Ellington Financial Inc. (NYSE:EFC) Announces Jul 25 Dividend of $0.13

Ellington Financial Inc. (NYSE:EFC - Get Free Report) declared a jul 25 dividend on Tuesday, July 8th, RTT News reports. Shareholders of record on Thursday, July 31st will be given a dividend of 0.13 per share by the financial services provider on Friday, August 29th. This represents a dividend yield of 11.8%. The ex-dividend date of this dividend is Thursday, July 31st.

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 decline. 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

Shares of Ellington Financial stock traded up $0.02 during trading on Friday, hitting $13.26. 368,296 shares of the company's stock were exchanged, compared to its average volume of 983,401. The company has a debt-to-equity ratio of 11.11, a quick ratio of 42.26 and a current ratio of 42.26. The business has a 50-day simple moving average of $12.89 and a 200-day simple moving average of $12.79. Ellington Financial has a 52-week low of $11.12 and a 52-week high of $14.40. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 9.40 and a beta of 0.98.

Ellington Financial (NYSE:EFC - Get Free Report) last issued its earnings results on Wednesday, May 7th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. The firm had revenue of $82.91 million during the quarter, compared to analysts' expectations of $107.06 million. Ellington Financial had a net margin of 101.59% and a return on equity of 12.06%. On average, research analysts forecast that Ellington Financial will post 1.38 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently commented on the stock. UBS Group raised their price target on shares of Ellington Financial from $12.00 to $12.50 and gave the company a "neutral" rating in a research report on Thursday. 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 report on Tuesday, July 1st. Finally, B. Riley raised their price target 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. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $14.30.

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 stake 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 & Exchange Commission. The firm owned 179,803 shares of the financial services provider's stock after purchasing an additional 23,553 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.19% of Ellington Financial worth $2,384,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 55.62% of the company's stock.

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.