Ellington Financial Inc. (EFC) To Go Ex-Dividend on April 29th

Ellington Financial Inc. (NYSE:EFC) announced a monthly dividend on Tuesday, April 6th, Wall Street Journal reports. Investors of record on Friday, April 30th will be paid a dividend of 0.14 per share by the financial services provider on Tuesday, May 25th. This represents a $1.68 annualized dividend and a yield of 9.57%. The ex-dividend date of this dividend is Thursday, April 29th. This is a positive change from Ellington Financial’s previous monthly dividend of $0.10.

Ellington Financial has decreased its dividend by 28.4% over the last three years and has increased its dividend every year for the last 1 years. Ellington Financial has a payout ratio of 62.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Ellington Financial to earn $1.63 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 73.6%.

EFC opened at $17.56 on Thursday. The stock’s fifty day simple moving average is $16.19 and its 200 day simple moving average is $14.75. Ellington Financial has a 1-year low of $7.61 and a 1-year high of $17.58. The stock has a market cap of $768.81 million, a PE ratio of -21.16 and a beta of 2.10. The company has a current ratio of 43.34, a quick ratio of 43.34 and a debt-to-equity ratio of 3.11.

Ellington Financial (NYSE:EFC) last released its quarterly earnings data on Thursday, February 18th. The financial services provider reported $0.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.03). The company had revenue of $27.12 million during the quarter, compared to analyst estimates of $29.06 million. Ellington Financial had a negative net margin of 22.63% and a positive return on equity of 10.00%. Equities analysts forecast that Ellington Financial will post 1.65 earnings per share for the current year.

EFC has been the topic of several research analyst reports. Zacks Investment Research cut shares of Ellington Financial from a “buy” rating to a “hold” rating in a report on Monday, February 22nd. JMP Securities increased their target price on Ellington Financial from $14.00 to $16.50 and gave the stock a “market outperform” rating in a research note on Friday, January 22nd. Maxim Group restated a “buy” rating and issued a $18.00 price target on shares of Ellington Financial in a research note on Friday, February 5th. UBS Group assumed coverage on Ellington Financial in a research report on Friday, January 15th. They set a “buy” rating and a $17.00 price objective on the stock. Finally, Keefe, Bruyette & Woods raised shares of Ellington Financial from a “market perform” rating to an “outperform” rating and set a $16.50 target price for the company in a research report on Friday, December 18th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $16.00.

Ellington Financial Company Profile

Ellington Financial Inc, through its subsidiary, Ellington Financial Operating Partnership LLC, acquires and manages mortgage-related, consumer-related, corporate-related, and other financial assets in the United States. The company acquires and manages residential mortgage-backed securities (RMBS) backed by prime jumbo, Alt-A, manufactured housing, and subprime residential mortgage loans; RMBS for which the principal and interest payments are guaranteed by the U.S.

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Dividend History for Ellington Financial (NYSE:EFC)

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