Key facts
- Keefe, Bruyette & Woods (KBW) upgraded its earnings per share outlook for Ellington Financial.
- KBW also upgraded its earnings per share outlook for Longbridge Financial.
- The upgrades followed strong second-quarter earnings for both companies.
- KBW maintained its outperform rating for Ellington Financial.
- KBW set a $15 price target for Ellington Financial.
Keefe, Bruyette & Woods (KBW) has upgraded its earnings per share outlook for Ellington Financial and its subsidiary Longbridge Financial. This decision comes after both entities reported robust second-quarter earnings. KBW maintained its outperform rating for Ellington Financial and reiterated a price target of $15 for the company's stock. The financial services firm's positive assessment is based on the strong financial performance demonstrated by Ellington and Longbridge during the second quarter. The upgrade suggests that KBW anticipates continued positive momentum for these companies.
Ellington Financial and Longbridge Financial are involved in the financial services sector, with KBW acting as an analyst and advisor. The specific details of the Q2 earnings that prompted the upgrade are not provided in the source material, but the outcome is a revised earnings per share outlook. The reaffirmation of the outperform rating and price target indicates a sustained positive view from KBW on Ellington Financial's investment potential.