Ellington Financial Inc. (NYSE:EFC) to Issue Monthly Dividend of $0.13

Ellington Financial Inc. (NYSE:EFCGet Free Report) announced a monthly dividend on Monday, July 8th, NASDAQ reports. Investors of record on Wednesday, July 31st will be given a dividend of 0.13 per share by the financial services provider on Monday, August 26th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 12.66%. The ex-dividend date of this dividend is Wednesday, July 31st.

Ellington Financial has increased its dividend by an average of 12.7% annually over the last three years. Ellington Financial has a dividend payout ratio of 94.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Ellington Financial to earn $1.70 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 91.8%.

Ellington Financial Stock Performance

Ellington Financial stock traded up $0.03 during midday trading on Tuesday, reaching $12.32. 572,560 shares of the stock traded hands, compared to its average volume of 992,982. The firm has a fifty day moving average price of $12.00 and a two-hundred day moving average price of $11.97. Ellington Financial has a fifty-two week low of $10.88 and a fifty-two week high of $14.21. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 19.20 and a beta of 1.97. The company has a current ratio of 46.79, a quick ratio of 46.79 and a debt-to-equity ratio of 10.99.

Ellington Financial (NYSE:EFCGet Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.07). Ellington Financial had a return on equity of 10.51% and a net margin of 66.65%. The business had revenue of $31.06 million during the quarter, compared to the consensus estimate of $26.68 million. On average, equities research analysts forecast that Ellington Financial will post 1.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. JMP Securities reiterated a “market outperform” rating and issued a $14.50 target price on shares of Ellington Financial in a research report on Thursday, April 18th. Jonestrading assumed coverage on shares of Ellington Financial in a research report on Friday, April 19th. They issued a “hold” rating for the company. BTIG Research decreased their target price on shares of Ellington Financial from $15.50 to $13.50 and set a “buy” rating for the company in a research report on Thursday, April 18th. Finally, StockNews.com upgraded shares of Ellington Financial from a “sell” rating to a “hold” rating in a research report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Ellington Financial currently has an average rating of “Moderate Buy” and a consensus target price of $13.95.

View Our Latest Stock Report on EFC

Insider Activity

In other news, CIO Michael W. Vranos sold 8,300 shares of the stock in a transaction on Monday, June 17th. The shares were sold at an average price of $12.15, for a total transaction of $100,845.00. Following the transaction, the executive now owns 160,874 shares in the company, valued at approximately $1,954,619.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CIO Michael W. Vranos sold 8,300 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $12.15, for a total transaction of $100,845.00. Following the completion of the sale, the executive now owns 160,874 shares in the company, valued at approximately $1,954,619.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CIO Michael W. Vranos sold 5,900 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $12.12, for a total value of $71,508.00. Following the completion of the transaction, the executive now directly owns 179,655 shares in the company, valued at $2,177,418.60. The disclosure for this sale can be found here. Insiders sold a total of 22,500 shares of company stock worth $272,866 in the last three months. 4.40% of the stock is owned by insiders.

Ellington Financial Company Profile

(Get Free Report)

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.

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Dividend History for Ellington Financial (NYSE:EFC)

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