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

Ellington Financial Inc. (NYSE:EFC) declared a monthly dividend on Monday, April 8th, Wall Street Journal reports. Investors of record on Tuesday, April 30th will be paid a dividend of 0.13 per share by the financial services provider on Tuesday, May 28th. This represents a $1.56 annualized dividend and a yield of 13.32%. The ex-dividend date of this dividend is Monday, April 29th.

Ellington Financial has increased its dividend payment by an average of 11.4% annually over the last three years. Ellington Financial has a dividend payout ratio of 91.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research 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 Performance

Shares of EFC opened at $11.71 on Friday. Ellington Financial has a 12 month low of $10.88 and a 12 month high of $14.21. The firm has a fifty day simple moving average of $11.49 and a 200 day simple moving average of $12.23. The stock has a market capitalization of $996.05 million, a price-to-earnings ratio of 13.01 and a beta of 1.92. The company has a current ratio of 46.75, a quick ratio of 46.75 and a debt-to-equity ratio of 11.30.

Ellington Financial (NYSE:EFC) last announced its earnings results on Monday, February 26th. The financial services provider reported $0.40 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.01). Ellington Financial had a return on equity of 11.36% and a net margin of 78.53%. The business had revenue of $27.99 million for the quarter, compared to analyst estimates of $30.77 million. During the same quarter in the previous year, the company posted $0.42 EPS. Research analysts forecast that Ellington Financial will post 1.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on EFC shares. Jonestrading started coverage on shares of Ellington Financial in a research report on Friday, April 19th. They set a “hold” rating on the stock. Keefe, Bruyette & Woods dropped their price target on shares of Ellington Financial from $14.00 to $13.25 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. JMP Securities reaffirmed a “market outperform” rating and set a $14.50 price target on shares of Ellington Financial in a research report on Thursday, April 18th. StockNews.com lowered shares of Ellington Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, April 17th. Finally, BTIG Research dropped their price target on shares of Ellington Financial from $15.50 to $13.50 and set a “buy” rating on the stock in a research report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price 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.