Ellington Financial Inc. to Issue Monthly Dividend of $0.15 (NYSE:EFC)

Ellington Financial Inc. (NYSE:EFCGet Rating) declared a monthly dividend on Wednesday, December 7th, Zacks reports. Shareholders of record on Friday, December 30th will be paid a dividend of 0.15 per share by the financial services provider on Wednesday, January 25th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 13.26%. The ex-dividend date is Thursday, December 29th.

Ellington Financial has a dividend payout ratio of 98.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Ellington Financial to earn $1.85 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 97.3%.

Ellington Financial Stock Up 1.3 %

Shares of EFC opened at $13.57 on Friday. The company has a quick ratio of 21.09, a current ratio of 21.09 and a debt-to-equity ratio of 5.00. The stock’s fifty day simple moving average is $13.03 and its 200 day simple moving average is $14.28. Ellington Financial has a twelve month low of $10.81 and a twelve month high of $18.13.

Analyst Ratings Changes

Several research analysts recently weighed in on EFC shares. Maxim Group cut their target price on Ellington Financial from $17.50 to $15.50 and set a “buy” rating on the stock in a research report on Thursday, October 20th. JMP Securities lowered their price target on Ellington Financial from $16.50 to $15.00 and set a “market outperform” rating for the company in a report on Thursday, October 20th. StockNews.com initiated coverage on Ellington Financial in a research note on Wednesday, October 12th. They set a “sell” rating for the company. Credit Suisse Group reduced their price target on shares of Ellington Financial to $14.00 in a research report on Thursday, October 13th. Finally, Piper Sandler reduced their price target on shares of Ellington Financial from $17.50 to $15.00 and set an “overweight” rating on the stock in a research report on Monday, October 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Ellington Financial presently has a consensus rating of “Hold” and a consensus target price of $15.38.

Institutional Investors Weigh In On Ellington Financial

Several institutional investors and hedge funds have recently modified their holdings of EFC. Bank of New York Mellon Corp raised its holdings in Ellington Financial by 5.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 516,745 shares of the financial services provider’s stock worth $5,875,000 after acquiring an additional 26,282 shares during the period. Teachers Retirement System of The State of Kentucky bought a new position in Ellington Financial in the 3rd quarter worth $155,000. Alliancebernstein L.P. raised its holdings in Ellington Financial by 1.0% in the 3rd quarter. Alliancebernstein L.P. now owns 182,107 shares of the financial services provider’s stock worth $2,071,000 after acquiring an additional 1,715 shares during the period. State Street Corp raised its holdings in Ellington Financial by 2.9% in the 3rd quarter. State Street Corp now owns 2,131,738 shares of the financial services provider’s stock worth $24,557,000 after acquiring an additional 59,557 shares during the period. Finally, Thrivent Financial for Lutherans increased its holdings in shares of Ellington Financial by 5.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 58,881 shares of the financial services provider’s stock worth $669,000 after purchasing an additional 3,196 shares during the period. Institutional investors and hedge funds own 54.41% of the company’s stock.

About Ellington Financial

(Get Rating)

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.

Further Reading

Dividend History for Ellington Financial (NYSE:EFC)

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