Ellington Financial Inc. (NYSE:EFC) Announces 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) announced a sep 25 dividend on Monday, September 8th, RTT News reports. Investors 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.

Ellington Financial has a dividend payout ratio of 91.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. 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 Trading Down 1.0%

NYSE EFC traded down $0.15 during mid-day trading on Monday, reaching $13.69. 1,997,675 shares of the stock were exchanged, compared to its average volume of 1,243,077. Ellington Financial has a 1-year low of $11.12 and a 1-year high of $14.40. The business's fifty day simple moving average is $13.34 and its 200 day simple moving average is $13.05. The stock has a market capitalization of $1.37 billion, a PE ratio of 11.04 and a beta of 1.00. The company has a debt-to-equity ratio of 10.96, a quick ratio of 46.78 and a current ratio of 46.78.

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on EFC. B. Riley lifted their target price on shares of Ellington Financial from $15.00 to $16.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Jones Trading raised shares of Ellington Financial from a "hold" rating to a "buy" rating and set a $14.25 price target on the stock in a research note on Wednesday, August 13th. Zacks Research raised shares of Ellington Financial to a "strong-buy" rating in a research note on Tuesday, August 12th. Piper Sandler dropped their price target on shares of Ellington Financial from $15.00 to $14.50 and set an "overweight" rating on the stock in a research note on Tuesday, July 1st. Finally, UBS Group lifted their price target on shares of Ellington Financial from $12.50 to $13.50 and gave the stock a "neutral" rating in a research note on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $14.46.

Ellington Financial Company Profile

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.

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