Ellington Financial Inc. (NYSE:EFC) declared a monthly dividend on Friday, February 5th, Zacks reports. Stockholders of record on Friday, February 26th will be given a dividend of 0.10 per share by the financial services provider on Thursday, March 25th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.53%. The ex-dividend date of this dividend is Thursday, February 25th.
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 67.0% meaning its dividend is sufficiently covered by earnings. Research 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%.
Shares of Ellington Financial stock opened at $15.94 on Tuesday. The business’s fifty day simple moving average is $15.45 and its 200 day simple moving average is $13.94. The firm has a market capitalization of $697.89 million, a P/E ratio of -19.20 and a beta of 2.10. Ellington Financial has a 12 month low of $3.24 and a 12 month high of $18.76. The company has a current ratio of 43.34, a quick ratio of 43.34 and a debt-to-equity ratio of 3.11.
A number of brokerages recently commented on EFC. UBS Group began coverage on Ellington Financial in a report on Friday, January 15th. They set a “buy” rating and a $17.00 price target on the stock. Maxim Group reiterated a “buy” rating and set a $18.00 price target on shares of Ellington Financial in a report on Friday, February 5th. JMP Securities lifted their price target on Ellington Financial from $14.00 to $16.50 and gave the stock a “market outperform” rating in a report on Friday, January 22nd. BTIG Research initiated coverage on Ellington Financial in a research note on Monday, November 23rd. They issued a “buy” rating and a $16.50 target price on the stock. Finally, Bank of America boosted their target price on Ellington Financial from $13.25 to $15.50 and gave the company a “neutral” rating in a research note on Wednesday, November 25th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Ellington Financial has an average rating of “Buy” and a consensus target price of $16.00.
About Ellington Financial
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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