Ellington Financial (EFC) Receives a Buy from Maxim Group

Maxim Group analyst Michael Diana reiterated a Buy rating on Ellington Financial (EFC) yesterday and set a price target of $18.00. The company’s shares closed last Tuesday at $15.24.

According to TipRanks.com, Diana is a 4-star analyst with an average return of 4.5% and a 53.3% success rate. Diana covers the Financial sector, focusing on stocks such as First Eagle Alternative Capital BDC, First Savings Financial Group, and Westamerica Bancorporation.

Currently, the analyst consensus on Ellington Financial is a Strong Buy with an average price target of $16.63.

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Based on Ellington Financial’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $48.25 million and net profit of $48.14 million. In comparison, last year the company earned revenue of $21.77 million and had a net profit of $17.29 million.

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Ellington Financial, Inc. 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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