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

Ellington Financial Inc. (NYSE:EFC - Get Free Report) declared a monthly dividend on Tuesday, June 10th, Wall Street Journal reports. Shareholders of record on Monday, June 30th will be paid a dividend of 0.13 per share by the financial services provider on Thursday, July 31st. This represents a $1.56 annualized dividend and a yield of 12.03%. The ex-dividend date is Monday, June 30th.

Ellington Financial has a 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 fall. 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 Stock Performance

NYSE:EFC traded up $0.02 during trading hours on Wednesday, reaching $12.97. The stock had a trading volume of 675,969 shares, compared to its average volume of 1,055,544. The stock has a market cap of $1.23 billion, a P/E ratio of 9.90 and a beta of 0.99. The stock has a 50 day simple moving average of $12.59 and a 200 day simple moving average of $12.68. The company has a debt-to-equity ratio of 10.87, a quick ratio of 37.04 and a current ratio of 37.04. Ellington Financial has a 12-month low of $11.12 and a 12-month high of $14.40.

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

Institutional Inflows and Outflows

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 holdings in shares of Ellington Financial Inc. (NYSE:EFC - Free Report) by 15.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 179,803 shares of the financial services provider's stock after buying an additional 23,553 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.19% of Ellington Financial worth $2,384,000 at the end of the most recent reporting period. 55.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on EFC shares. B. Riley boosted their target price on Ellington Financial from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Keefe, Bruyette & Woods upped their target price on Ellington Financial from $13.75 to $14.50 and gave the stock an "outperform" rating in a report on Monday, March 3rd. Finally, UBS Group reissued a "neutral" rating on shares of Ellington Financial in a research 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.