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

Key Points

• Ellington Financial Inc. has announced a dividend of $0.13 per share, payable on October 31st to investors of record as of September 30th.
• The company currently has a dividend payout ratio of 91.2%, which is supported by expected earnings of $1.67 per share next year.
• Analysts have a consensus rating of "Buy" for the stock, with an average target price of $14.46.

Ellington Financial Inc. (NYSE:EFC - Get Free Report) declared a sep 25 dividend on Monday, September 8th, RTT News reports. Shareholders of record on Tuesday, September 30th will be paid a dividend of 0.13 per share by the financial services provider on Friday, October 31st. This represents a dividend yield of 1,140.0%. The ex-dividend date of this dividend is Tuesday, September 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 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

Shares of Ellington Financial stock traded down $0.11 during trading on Friday, reaching $13.43. The company's stock had a trading volume of 1,203,794 shares, compared to its average volume of 1,290,635. The stock has a 50-day moving average price of $13.38 and a two-hundred day moving average price of $13.06. The company has a current ratio of 46.78, a quick ratio of 46.78 and a debt-to-equity ratio of 10.96. Ellington Financial has a one year low of $11.12 and a one year high of $14.40. The stock has a market capitalization of $1.34 billion, a P/E ratio of 10.83 and a beta of 1.00.

Ellington Financial (NYSE:EFC - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.07. Ellington Financial had a return on equity of 13.56% and a net margin of 89.52%.The business had revenue of $92.54 million during the quarter, compared to analysts' expectations of $112.48 million. As a group, sell-side analysts anticipate that Ellington Financial will post 1.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. MAS Advisors LLC raised its stake in Ellington Financial by 3.6% in the second quarter. MAS Advisors LLC now owns 22,928 shares of the financial services provider's stock valued at $298,000 after purchasing an additional 788 shares in the last quarter. CWM LLC boosted its stake in Ellington Financial by 67.6% in the second quarter. CWM LLC now owns 2,010 shares of the financial services provider's stock valued at $26,000 after buying an additional 811 shares in the last quarter. California State Teachers Retirement System grew its position in Ellington Financial by 1.1% in the fourth quarter. California State Teachers Retirement System now owns 81,097 shares of the financial services provider's stock valued at $983,000 after acquiring an additional 873 shares during the last quarter. Bank of Montreal Can raised its stake in Ellington Financial by 6.2% during the second quarter. Bank of Montreal Can now owns 15,170 shares of the financial services provider's stock worth $197,000 after acquiring an additional 888 shares in the last quarter. Finally, Corebridge Financial Inc. lifted its holdings in shares of Ellington Financial by 2.0% in the first quarter. Corebridge Financial Inc. now owns 46,054 shares of the financial services provider's stock worth $611,000 after acquiring an additional 893 shares during the last quarter. Institutional investors and hedge funds own 55.62% of the company's stock.

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.