Ellington Financial Inc. (EFC) to Issue Monthly Dividend of $0.13 on November 25th

Ellington Financial Inc. (NYSE:EFC) declared a monthly dividend on Monday, October 7th, NASDAQ reports. Stockholders of record on Thursday, October 31st will be paid a dividend of 0.13 per share by the financial services provider on Monday, November 25th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 12.55%. The ex-dividend date of this dividend is Thursday, October 31st.

Ellington Financial has raised its dividend payment by an average of 12.7% annually over the last three years. Ellington Financial has a dividend payout ratio of 95.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Ellington Financial to earn $1.67 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 93.4%.

Ellington Financial Stock Performance

Shares of EFC opened at $12.44 on Wednesday. The firm has a market capitalization of $1.06 billion, a PE ratio of 19.43 and a beta of 1.98. The company has a quick ratio of 73.16, a current ratio of 73.16 and a debt-to-equity ratio of 10.84. The firm has a 50-day moving average price of $12.94 and a 200 day moving average price of $12.33. Ellington Financial has a 52-week low of $10.88 and a 52-week high of $13.46.

Ellington Financial (NYSE:EFC) last posted its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). The company had revenue of $33.60 million during the quarter, compared to the consensus estimate of $37.20 million. Ellington Financial had a net margin of 103.55% and a return on equity of 9.76%. During the same quarter last year, the business earned $0.38 earnings per share. On average, sell-side analysts anticipate that Ellington Financial will post 1.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reduced their price objective on shares of Ellington Financial from $14.50 to $14.00 and set a “market outperform” rating for the company in a research report on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $13.85.

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 mortgage; RMBS for which the principal and interest payments are guaranteed by the U.S.