Ellington Financial Inc. (NYSE:EFC) Declares Mar 25 Dividend of $0.13

Ellington Financial Inc. (NYSE:EFC - Get Free Report) declared a mar 25 dividend on Friday, March 7th, RTT News reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.13 per share by the financial services provider on Friday, April 25th. This represents a dividend yield of 11.7%. The ex-dividend date is Monday, March 31st.

Ellington Financial has raised its dividend payment by an average of 2.6% annually over the last three years. Ellington Financial has a payout ratio of 91.2% indicating that 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 $1.67 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 Price Performance

NYSE EFC traded down $0.21 during trading hours on Tuesday, reaching $13.07. The company's stock had a trading volume of 1,434,950 shares, compared to its average volume of 902,619. The company has a debt-to-equity ratio of 10.87, a quick ratio of 37.04 and a current ratio of 37.04. The company's 50-day moving average is $12.79 and its two-hundred day moving average is $12.65. Ellington Financial has a fifty-two week low of $10.88 and a fifty-two week high of $14.40. The stock has a market cap of $1.18 billion, a PE ratio of 9.97 and a beta of 1.99.

Ellington Financial (NYSE:EFC - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The financial services provider reported $0.45 earnings per share for the quarter, topping analysts' consensus estimates of $0.38 by $0.07. Ellington Financial had a net margin of 106.40% and a return on equity of 10.26%. The business had revenue of $38.13 million during the quarter, compared to analysts' expectations of $112.88 million. Analysts forecast that Ellington Financial will post 1.38 EPS for the current year.

Remove Ads

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. JMP Securities restated a "market outperform" rating and issued a $14.00 price objective on shares of Ellington Financial in a research report on Thursday, January 23rd. B. Riley raised shares of Ellington Financial to a "strong-buy" rating in a research note on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Ellington Financial from $13.75 to $14.50 and gave the company an "outperform" rating in a research report on Monday, March 3rd. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $14.00.

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