Ellington Financial Inc. (EFC) To Go Ex-Dividend on April 28th

Ellington Financial Inc. (NYSE:EFCGet Rating) declared a monthly dividend on Thursday, April 7th, Zacks reports. Shareholders of record on Friday, April 29th will be paid a dividend of 0.15 per share by the financial services provider on Wednesday, May 25th. This represents a $1.80 dividend on an annualized basis and a yield of 10.92%. The ex-dividend date of this dividend is Thursday, April 28th.

Ellington Financial has a dividend payout ratio of 90.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Ellington Financial to earn $1.97 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 91.4%.

Shares of EFC opened at $16.48 on Tuesday. The company has a current ratio of 31.82, a quick ratio of 31.82 and a debt-to-equity ratio of 3.32. Ellington Financial has a 1 year low of $15.68 and a 1 year high of $19.60. The stock has a market cap of $947.22 million, a P/E ratio of 6.27 and a beta of 1.96. The stock’s 50-day moving average price is $17.44 and its two-hundred day moving average price is $17.56.

Ellington Financial (NYSE:EFCGet Rating) last released its quarterly earnings data on Wednesday, February 23rd. The financial services provider reported $0.44 earnings per share for the quarter. Ellington Financial had a return on equity of 10.24% and a net margin of 102.64%. The business had revenue of $38.47 million for the quarter. As a group, equities analysts forecast that Ellington Financial will post 1.86 EPS for the current year.

Several research firms have recently weighed in on EFC. StockNews.com began coverage on Ellington Financial in a report on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research upgraded Ellington Financial from a “sell” rating to a “hold” rating in a report on Tuesday, February 8th. Bank of America dropped their target price on Ellington Financial from $19.00 to $18.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 9th. Finally, TheStreet raised Ellington Financial from a “c+” rating to a “b” rating in a research report on Wednesday, February 2nd. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Ellington Financial currently has a consensus rating of “Hold” and a consensus price target of $19.40.

Institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company increased its position in shares of Ellington Financial by 2.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 24,582 shares of the financial services provider’s stock worth $420,000 after purchasing an additional 612 shares during the last quarter. Royal Bank of Canada increased its position in shares of Ellington Financial by 14.2% during the 3rd quarter. Royal Bank of Canada now owns 20,316 shares of the financial services provider’s stock worth $371,000 after purchasing an additional 2,519 shares during the last quarter. Amalgamated Bank increased its position in shares of Ellington Financial by 12.3% during the 4th quarter. Amalgamated Bank now owns 25,499 shares of the financial services provider’s stock worth $436,000 after purchasing an additional 2,785 shares during the last quarter. MetLife Investment Management LLC increased its position in shares of Ellington Financial by 22.5% during the 4th quarter. MetLife Investment Management LLC now owns 18,630 shares of the financial services provider’s stock worth $318,000 after purchasing an additional 3,419 shares during the last quarter. Finally, Comerica Bank increased its position in shares of Ellington Financial by 8.4% during the 4th quarter. Comerica Bank now owns 46,763 shares of the financial services provider’s stock worth $830,000 after purchasing an additional 3,618 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

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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