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

Ellington Financial Inc. (NYSE:EFC - Get Free Report) announced a monthly dividend on Tuesday, June 10th, Wall Street Journal reports. Investors 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 12.12%. The ex-dividend date of this dividend is Monday, June 30th.

Ellington Financial has a 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. Research 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

EFC stock traded down $0.20 during midday trading on Friday, hitting $12.88. The company's stock had a trading volume of 760,454 shares, compared to its average volume of 976,882. The company has a quick ratio of 37.04, a current ratio of 37.04 and a debt-to-equity ratio of 10.87. Ellington Financial has a 12 month low of $11.12 and a 12 month high of $14.40. The company has a 50 day moving average of $12.63 and a two-hundred day moving average of $12.69. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 9.83 and a beta of 0.99.

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

Institutional Trading of Ellington Financial

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 position in Ellington Financial Inc. (NYSE:EFC - Free Report) by 15.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 179,803 shares of the financial services provider's stock after acquiring an additional 23,553 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.19% of Ellington Financial worth $2,384,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 55.62% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. UBS Group reaffirmed a "neutral" rating on shares of Ellington Financial in a report on Wednesday, May 14th. Keefe, Bruyette & Woods lifted their price objective on shares of Ellington Financial from $13.75 to $14.50 and gave the stock an "outperform" rating in a research note on Monday, March 3rd. Finally, B. Riley upped their target price on shares of Ellington Financial from $15.00 to $16.00 and gave the company a "buy" rating in a research report on Thursday, May 15th.

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.