Ellington Financial Inc. (NYSE:EFC) Declares $0.13 Monthly Dividend

Ellington Financial Inc. (NYSE:EFC) announced a monthly dividend on Wednesday, May 8th, Wall Street Journal reports. Stockholders of record on Friday, May 31st will be given a dividend of 0.13 per share by the financial services provider on Tuesday, June 25th. This represents a $1.56 annualized dividend and a dividend yield of 13.27%. The ex-dividend date of this dividend is Friday, May 31st.

Ellington Financial has raised its dividend by an average of 12.7% annually over the last three years and has increased its dividend every year for the last 1 years. Ellington Financial has a payout ratio of 91.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Ellington Financial to earn $1.74 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 89.7%.

Ellington Financial Stock Up 1.2 %

Ellington Financial stock opened at $11.76 on Thursday. The stock has a market cap of $1.00 billion, a PE ratio of 13.07 and a beta of 1.91. The company has a debt-to-equity ratio of 11.30, a current ratio of 46.75 and a quick ratio of 46.75. The stock’s fifty day moving average is $11.46 and its two-hundred day moving average is $12.18. Ellington Financial has a 1-year low of $10.88 and a 1-year high of $14.21.

Ellington Financial (NYSE:EFC) last released its quarterly earnings data on Monday, February 26th. The financial services provider reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). Ellington Financial had a return on equity of 11.36% and a net margin of 78.53%. The company had revenue of $27.99 million for the quarter, compared to analyst estimates of $30.77 million. During the same period in the previous year, the business posted $0.42 EPS. On average, sell-side analysts expect that Ellington Financial will post 1.53 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on EFC shares. StockNews.com upgraded Ellington Financial from a “sell” rating to a “hold” rating in a research note on Thursday, May 2nd. Keefe, Bruyette & Woods decreased their price target on shares of Ellington Financial from $14.00 to $13.25 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. Jonestrading initiated coverage on shares of Ellington Financial in a research note on Friday, April 19th. They issued a “hold” rating on the stock. JMP Securities reiterated a “market outperform” rating and set a $14.50 target price on shares of Ellington Financial in a research note on Thursday, April 18th. Finally, BTIG Research lowered their price target on Ellington Financial from $15.50 to $13.50 and set a “buy” rating on the stock in a report on Thursday, April 18th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $13.95.

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