Ellington Financial Inc. (NYSE:EFC) Plans Monthly Dividend of $0.10

Ellington Financial Inc. (NYSE:EFC) declared a monthly dividend on Friday, February 5th, Zacks reports. Investors of record on Friday, February 26th will be paid 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 yield of 7.53%. The ex-dividend date of this dividend is Thursday, February 25th.

Ellington Financial has decreased its dividend payment by 28.4% over the last three years and has raised its dividend annually for the last 1 consecutive years. Ellington Financial has a payout ratio of 67.0% meaning its dividend is sufficiently covered by earnings. 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 NYSE:EFC opened at $15.94 on Tuesday. The stock has a market cap of $697.89 million, a PE ratio of -19.20 and a beta of 2.10. The company’s fifty day moving average is $15.45 and its 200 day moving average is $13.94. Ellington Financial has a 52 week low of $3.24 and a 52 week high of $18.76. The company has a quick ratio of 43.34, a current ratio of 43.34 and a debt-to-equity ratio of 3.11.

Ellington Financial (NYSE:EFC) last issued its earnings results on Thursday, February 18th. The financial services provider reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). Ellington Financial had a positive return on equity of 10.00% and a negative net margin of 22.63%. Sell-side analysts anticipate that Ellington Financial will post 1.65 EPS for the current year.

A number of brokerages have issued reports on EFC. UBS Group began coverage on shares of Ellington Financial in a report on Friday, January 15th. They issued a “buy” rating and a $17.00 price target on the stock. Zacks Investment Research lowered shares of Ellington Financial from a “buy” rating to a “hold” rating in a report on Monday. Bank of America raised their price target on shares of Ellington Financial from $13.25 to $15.50 and gave the stock a “neutral” rating in a report on Wednesday, November 25th. Keefe, Bruyette & Woods raised shares of Ellington Financial from a “market perform” rating to an “outperform” rating and set a $16.50 price target on the stock in a report on Friday, December 18th. Finally, Maxim Group reissued a “buy” rating and issued a $18.00 price target on shares of Ellington Financial in a report on Friday, February 5th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average 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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Dividend History for Ellington Financial (NYSE:EFC)

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