Ellington Financial Inc. to Issue Monthly Dividend of $0.15 (NYSE:EFC)
Ellington Financial Inc. (NYSE:EFC – Get Rating) declared a monthly dividend on Friday, July 8th, Zacks reports. Shareholders of record on Friday, July 29th will be paid a dividend of 0.15 per share by the financial services provider on Thursday, August 25th. This represents a $1.80 dividend on an annualized basis and a yield of 11.67%. The ex-dividend date of this dividend is Thursday, July 28th.
Ellington Financial has a dividend payout ratio of 96.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Ellington Financial to earn $1.88 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 95.7%.
Shares of NYSE:EFC opened at $15.42 on Friday. The stock has a fifty day simple moving average of $15.09 and a two-hundred day simple moving average of $16.60. The stock has a market capitalization of $925.97 million, a price-to-earnings ratio of 9.64 and a beta of 1.81. Ellington Financial has a 12-month low of $12.74 and a 12-month high of $18.95. The company has a current ratio of 39.86, a quick ratio of 39.86 and a debt-to-equity ratio of 3.91.
Ellington Financial (NYSE:EFC – Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.04). The company had revenue of $37.06 million for the quarter, compared to analysts’ expectations of $39.16 million. Ellington Financial had a net margin of 63.71% and a return on equity of 9.86%. During the same quarter in the previous year, the firm posted $0.43 EPS. As a group, equities research analysts predict that Ellington Financial will post 1.77 EPS for the current year.
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Several hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its holdings in shares of Ellington Financial by 126.5% in the first quarter. PNC Financial Services Group Inc. now owns 1,359 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 759 shares during the period. Quantbot Technologies LP bought a new stake in shares of Ellington Financial in the first quarter worth $62,000. Hsbc Holdings PLC bought a new stake in shares of Ellington Financial in the first quarter worth $283,000. MAS Advisors LLC bought a new stake in shares of Ellington Financial in the first quarter worth $446,000. Finally, MetLife Investment Management LLC grew its holdings in shares of Ellington Financial by 54.9% in the first quarter. MetLife Investment Management LLC now owns 28,857 shares of the financial services provider’s stock worth $512,000 after acquiring an additional 10,227 shares during the period. Hedge funds and other institutional investors own 59.15% of the company’s stock.
A number of research analysts have issued reports on the company. TheStreet cut Ellington Financial from a “b” rating to a “c” rating in a research note on Friday, May 6th. JMP Securities decreased their price target on Ellington Financial from $20.00 to $17.50 and set a “market outperform” rating for the company in a research note on Thursday, June 16th. StockNews.com cut Ellington Financial from a “hold” rating to a “sell” rating in a research note on Friday, May 6th. Finally, Piper Sandler decreased their price target on Ellington Financial from $19.00 to $17.00 and set an “overweight” rating for the company in a research note on Friday, June 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Ellington Financial currently has a consensus rating of “Hold” and an average target price of $17.50.
About Ellington Financial (Get Rating)
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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