Ellington Financial Inc. (NYSE:EFC) declared a monthly dividend on Friday, February 5th, Zacks reports. Stockholders of record on Friday, February 26th will be given a dividend of 0.10 per share by the financial services provider on Thursday, March 25th. This represents a $1.20 annualized dividend and a dividend yield of 7.53%. The ex-dividend date is Thursday, February 25th.
Ellington Financial has decreased its dividend by 28.4% over the last three years and has increased its dividend annually for the last 1 consecutive years. Ellington Financial has a dividend payout ratio of 67.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Ellington Financial to earn $1.63 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 73.6%.
Shares of EFC opened at $15.94 on Tuesday. The company has a market capitalization of $697.89 million, a price-to-earnings ratio of -19.20 and a beta of 2.10. Ellington Financial has a 52-week low of $3.24 and a 52-week high of $18.76. The company has a quick ratio of 43.34, a current ratio of 43.34 and a debt-to-equity ratio of 3.11. The stock has a 50 day moving average price of $15.45 and a 200 day moving average price of $13.94.
Ellington Financial (NYSE:EFC) last posted its earnings results on Thursday, February 18th. The financial services provider reported $0.37 EPS for the quarter, missing the Zacks' consensus estimate of $0.40 by ($0.03). Ellington Financial had a negative net margin of 22.63% and a positive return on equity of 10.00%. On average, equities analysts anticipate that Ellington Financial will post 1.65 EPS for the current fiscal year.
A number of equities research analysts have weighed in on EFC shares. Zacks Investment Research cut Ellington Financial from a "buy" rating to a "hold" rating in a research note on Monday. UBS Group initiated coverage on shares of Ellington Financial in a research note on Friday, January 15th. They set a "buy" rating and a $17.00 price target for the company. BTIG Research started coverage on shares of Ellington Financial in a report on Monday, November 23rd. They issued a "buy" rating and a $16.50 target price for the company. JMP Securities lifted their target price on Ellington Financial from $14.00 to $16.50 and gave the company a "market outperform" rating in a research note on Friday, January 22nd. Finally, Maxim Group reiterated a "buy" rating and issued a $18.00 price objective on shares of Ellington Financial in a research report on Friday, February 5th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Ellington Financial has an average rating of "Buy" and an average target price of $16.00.
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 residential mortgage loans; RMBS for which the principal and interest payments are guaranteed by the U.S.
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