Ellington Financial (EFC) Initiated with a Buy at Maxim Group


Ellington Financial (EFC) received a Buy rating and a $19.50 price target from Maxim Group analyst Michael Diana today. The company’s shares opened today at $15.68.

Diana commented:

“4Q18 book value of $18.95 (versus $19.37 in 3Q18) implies 4Q18 EPS of $0.00 (assuming no share buybacks), versus our previous $0.41 estimate. Price target of $19.50 equates to 1.0x book value.”

According to TipRanks.com, Diana is a 4-star analyst with an average return of 3.0% and a 52.6% success rate. Diana covers the Financial sector, focusing on stocks such as First Savings Financial Group, Manhattan Bridge Capital Inc, and Arlington Asset Investment.

Currently, the analyst consensus on Ellington Financial is a Moderate Buy with an average price target of $19.50.

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Based on Ellington Financial’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $6.66 million. In comparison, last year the company had a net profit of $7.44 million.

Based on the recent corporate insider activity of 11 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.

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