B.Riley FBR Keeps Their Hold Rating on Ellington Financial

By Jason Carr

B.Riley FBR analyst Jessica Levi-Ribner reiterated a Hold rating on Ellington Financial (NYSE: EFC) today and set a price target of $16. The company’s shares closed yesterday at $14.95.

Levi-Ribner observed:

“We reiterate our Neutral rating and $16 price target on shares of Ellington Financial LLC (EFC) following 4Q17 earnings, which missed consensus estimates and fell short of the dividend. While earnings were disappointing, the company was able to deploy a meaningful amount of capital through share repurchases and credit portfolio growth, both of which should support increased earnings in coming quarters. Management noted that it continues to expect the portfolio to be fully ramped by the second half of FY18 and for the dividend to be mostly covered by net interest income around the same time. Additionally, the company has re-upped its buyback authorization, and we expect it to be active in repurchasing shares, especially as shares continue to trade at a 20% discount to book value.”

According to TipRanks.com, Levi-Ribner is a 3-star analyst with an average return of 4.0% and a 60.9% success rate. Levi-Ribner covers the Financial sector, focusing on stocks such as Sutherland Asset Management Corporation, Arlington Asset Investment, and New York Mortgage Trust.

Ellington Financial has an analyst consensus of Moderate Buy, with a price target consensus of $17.50.

Ellington Financial’s market cap is currently $485.4M and has a P/E ratio of 17.18. The company has a book value ratio of 0.7885.

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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.