In a report released today, Michael Diana from Maxim Group reiterated a Buy rating on Ellington Financial (NYSE: EFC), with a price target of $19.50. The company’s shares opened today at $16.48, close to its 52-week high of $16.50.
Diana wrote:
“EFC reported 2Q18 EPS of $0.69, versus its $0.41 dividend. Aided by share buyback of 1% of outstanding shares in 2Q18, book value was up 1.7%.”
According to TipRanks.com, Diana is a 5-star analyst with an average return of 7.3% and a 63.3% success rate. Diana covers the Financial sector, focusing on stocks such as First Savings Financial Group, Manhattan Bridge Capital Inc, and Arlington Asset Investment.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ellington Financial with a $18.50 average price target.
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Based on Ellington Financial’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $21.04 million. In comparison, last year the company had a net profit of $5.06 million.
Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of EFC in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Ellington Financial LLC engages in the provision of investment services. It manages mortgage-backed assets, securities, loans and real estate debts. The company was founded on July 9, 2007 and is headquartered in Old Greenwich, CT.
