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

Ellington Financial Inc. (NYSE:EFC) announced a monthly dividend on Tuesday, June 10th, Wall Street Journal reports. Investors of record on Monday, June 30th will be given a dividend of 0.13 per share by the financial services provider on Thursday, July 31st. This represents a $1.56 dividend on an annualized basis and a yield of 11.95%. The ex-dividend date of this dividend is Monday, June 30th.

Ellington Financial has a dividend 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 tumble. 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

Ellington Financial stock traded up $0.11 during trading hours on Wednesday, hitting $13.06. 90,742 shares of the stock were exchanged, compared to its average volume of 975,005. 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 stock has a market capitalization of $1.23 billion, a P/E ratio of 9.96 and a beta of 0.99. Ellington Financial has a 12 month low of $11.12 and a 12 month high of $14.40. The business’s 50-day moving average is $12.59 and its two-hundred day moving average is $12.68.

Ellington Financial (NYSE:EFC) last announced its earnings results on Wednesday, May 7th. The financial services provider reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Ellington Financial had a net margin of 106.40% and a return on equity of 10.26%. The company had revenue of $82.91 million during the quarter, compared to the consensus estimate of $107.06 million. Equities research analysts expect that Ellington Financial will post 1.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Ellington Financial

An institutional investor recently raised its position in Ellington Financial stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Ellington Financial Inc. (NYSE:EFC) by 15.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 179,803 shares of the financial services provider’s stock after purchasing an additional 23,553 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.19% of Ellington Financial worth $2,384,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 55.62% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on EFC. Keefe, Bruyette & Woods increased their price target on shares of Ellington Financial from $13.75 to $14.50 and gave the company an “outperform” rating in a research note on Monday, March 3rd. B. Riley increased their price target on shares of Ellington Financial from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Finally, UBS Group restated a “neutral” rating on shares of Ellington Financial in a report on Wednesday, May 14th.

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.