Ellington Financial Inc. (NYSE:EFC – Get Free Report) announced a monthly dividend on Monday, October 7th, NASDAQ reports. Stockholders of record on Thursday, October 31st will be given a dividend of 0.13 per share by the financial services provider on Monday, November 25th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 12.55%. The ex-dividend date is Thursday, October 31st.
Ellington Financial has raised its dividend by an average of 12.7% annually over the last three years. Ellington Financial has a dividend payout ratio of 95.7% 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 NYSE:EFC traded up $0.07 during trading on Tuesday, hitting $12.44. 696,591 shares of the stock were exchanged, compared to its average volume of 988,432. The company has a debt-to-equity ratio of 10.84, a quick ratio of 73.16 and a current ratio of 73.16. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 19.33 and a beta of 1.98. Ellington Financial has a 1-year low of $10.88 and a 1-year high of $13.46. The company’s fifty day simple moving average is $12.95 and its 200-day simple moving average is $12.32.
Wall Street Analysts Forecast Growth
Separately, JMP Securities decreased their target price on Ellington Financial from $14.50 to $14.00 and set a “market outperform” rating for the company in a research report on Wednesday, July 24th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $13.85.
Read Our Latest Analysis on EFC
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.
Recommended Stories
- Five stocks we like better than Ellington Financial
- How to Use the MarketBeat Excel Dividend Calculator
- NVIDIA’s AI Dominance: Why Analysts Predict Major Upside Ahead
- What Are Trending Stocks? Trending Stocks Explained
- These Stocks Are Using Buybacks to Unlock Big Gains for Investors
- 3 Stocks to Consider Buying in October
- This Is the Entry Into PepsiCo You’ve Been Waiting For
Receive News & Ratings for Ellington Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ellington Financial and related companies with MarketBeat.com's FREE daily email newsletter.