Ellington Financial Inc. to Issue Monthly Dividend of $0.15 (NYSE:EFC)

Ellington Financial Inc. (NYSE:EFC) announced a monthly dividend on Tuesday, June 8th, Wall Street Journal reports. Stockholders of record on Wednesday, June 30th will be paid a dividend of 0.15 per share by the financial services provider on Monday, July 26th. This represents a $1.80 annualized dividend and a dividend yield of 9.36%. The ex-dividend date is Tuesday, June 29th.

Ellington Financial has a dividend payout ratio of 83.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Ellington Financial to earn $1.91 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 94.2%.

Shares of NYSE EFC opened at $19.23 on Wednesday. Ellington Financial has a 1-year low of $10.77 and a 1-year high of $19.39. The firm’s fifty day moving average price is $18.17. The company has a current ratio of 30.47, a quick ratio of 30.47 and a debt-to-equity ratio of 3.57. The company has a market capitalization of $841.89 million, a price-to-earnings ratio of 12.03 and a beta of 2.19.

Ellington Financial (NYSE:EFC) last posted its quarterly earnings results on Wednesday, May 5th. The financial services provider reported $0.43 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.06. Ellington Financial had a return on equity of 9.43% and a net margin of 172.10%. The firm had revenue of $28.74 million during the quarter, compared to analyst estimates of $27.32 million. On average, equities research analysts anticipate that Ellington Financial will post 1.75 earnings per share for the current fiscal year.

Several research firms recently issued reports on EFC. Zacks Investment Research raised Ellington Financial from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Monday, May 31st. UBS Group lowered Ellington Financial from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $17.50 to $18.50 in a research note on Monday. Finally, Maxim Group reissued a “buy” rating and set a $20.00 price objective on shares of Ellington Financial in a research note on Friday, April 16th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Ellington Financial currently has a consensus rating of “Buy” and a consensus target price of $17.06.

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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