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Bank of Montreal Can trimmed its holdings in Ellington Financial Inc. (NYSE:EFC – Free Report) by 90.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,008 shares of the financial services provider’s stock after selling 108,247 shares during the period. Bank of Montreal Can’s holdings in Ellington Financial were worth $133,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also bought and sold shares of EFC. Wells Fargo & Company MN boosted its stake in Ellington Financial by 12.1% in the 4th quarter. Wells Fargo & Company MN now owns 82,064 shares of the financial services provider’s stock worth $995,000 after purchasing an additional 8,881 shares during the period. Geode Capital Management LLC grew its stake in Ellington Financial by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 2,008,827 shares of the financial services provider’s stock valued at $24,353,000 after acquiring an additional 43,531 shares in the last quarter. Prevail Innovative Wealth Advisors LLC bought a new stake in Ellington Financial during the 4th quarter worth approximately $193,000. JPMorgan Chase & Co. boosted its holdings in Ellington Financial by 83.8% in the 4th quarter. JPMorgan Chase & Co. now owns 425,530 shares of the financial services provider’s stock valued at $5,157,000 after purchasing an additional 193,987 shares during the period. Finally, LPL Financial LLC grew its position in shares of Ellington Financial by 4.7% during the 4th quarter. LPL Financial LLC now owns 52,793 shares of the financial services provider’s stock valued at $640,000 after purchasing an additional 2,392 shares in the last quarter. Institutional investors own 55.62% of the company’s stock.
Analyst Upgrades and Downgrades
EFC has been the subject of a number of research analyst reports. B. Riley upgraded Ellington Financial to a “strong-buy” rating in a research report on Tuesday, January 7th. JMP Securities reissued a “market outperform” rating and issued a $14.00 price target on shares of Ellington Financial in a research note on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods boosted their target price on Ellington Financial from $13.75 to $14.50 and gave the stock an “outperform” rating in a research report on Monday, March 3rd.
Read Our Latest Research Report on EFC
Ellington Financial Stock Performance
Ellington Financial stock opened at $12.99 on Friday. Ellington Financial Inc. has a twelve month low of $11.12 and a twelve month high of $14.40. The company has a quick ratio of 37.04, a current ratio of 37.04 and a debt-to-equity ratio of 10.87. The stock’s 50 day moving average is $12.91 and its 200 day moving average is $12.58. The company has a market capitalization of $1.18 billion, a P/E ratio of 9.92 and a beta of 1.57.
Ellington Financial (NYSE:EFC – Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The financial services provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.07. The firm had revenue of $38.13 million during the quarter, compared to analysts’ expectations of $112.88 million. Ellington Financial had a net margin of 106.40% and a return on equity of 10.26%. On average, equities research analysts predict that Ellington Financial Inc. will post 1.38 earnings per share for the current fiscal year.
Ellington Financial Dividend Announcement
The firm also recently declared a monthly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Wednesday, April 30th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $1.56 dividend on an annualized basis and a yield of 12.01%. Ellington Financial’s dividend payout ratio is presently 113.04%.
Ellington Financial Profile
Ellington Financial Inc, through its subsidiary, Ellington Financial Operating Partnership LLC, acquires and manages mortgage-related, consumer-related, corporate-related, and other financial assets in the United States. The company acquires and manages residential mortgage-backed securities (RMBS) backed by prime jumbo, Alt-A, manufactured housing, and subprime mortgage; RMBS for which the principal and interest payments are guaranteed by the U.S.
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