Ellington Financial Inc. (EFC) To Go Ex-Dividend on December 31st

by · The Markets Daily

Ellington Financial Inc. (NYSE:EFC – Get Free Report) announced a monthly dividend on Thursday, December 4th. Shareholders of record on Wednesday, December 31st will be given a dividend of 0.13 per share by the financial services provider on Friday, January 30th. This represents a c) annualized dividend and a yield of 11.4%. The ex-dividend date of this dividend is Wednesday, December 31st.

Ellington Financial has decreased its dividend payment by an average of 0.0%annually over the last three years. Ellington Financial has a dividend 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 tumble. Equities 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 Stock Up 0.7%

Shares of NYSE:EFC opened at $13.72 on Friday. The firm has a market capitalization of $1.47 billion, a P/E ratio of 10.24 and a beta of 0.95. The company has a debt-to-equity ratio of 10.64, a quick ratio of 50.60 and a current ratio of 50.60. The stock has a 50 day moving average price of $13.55 and a 200-day moving average price of $13.29. Ellington Financial has a 52-week low of $11.12 and a 52-week high of $14.40.

Ellington Financial (NYSE:EFC – Get Free Report) last issued its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.09. The company had revenue of $242.08 million for the quarter, compared to analysts’ expectations of $121.99 million. Ellington Financial had a return on equity of 14.55% and a net margin of 89.04%. As a group, equities research analysts anticipate that Ellington Financial will post 1.38 EPS for the current fiscal year.

Insider Transactions at Ellington Financial

In other Ellington Financial news, Director Ronald I. Simon bought 5,544 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were acquired at an average cost of $13.56 per share, for a total transaction of $75,176.64. Following the purchase, the director owned 80,000 shares in the company, valued at approximately $1,084,800. This trade represents a 7.45% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Ellington Financial

Several institutional investors have recently modified their holdings of EFC. CWM LLC raised its position in Ellington Financial by 67.6% in the 2nd quarter. CWM LLC now owns 2,010 shares of the financial services provider’s stock worth $26,000 after buying an additional 811 shares during the last quarter. Huntington National Bank grew its stake in shares of Ellington Financial by 134.4% in the second quarter. Huntington National Bank now owns 2,752 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 1,578 shares during the period. Danske Bank A S purchased a new position in shares of Ellington Financial during the third quarter valued at approximately $44,000. Steward Partners Investment Advisory LLC lifted its position in Ellington Financial by 93.9% during the second quarter. Steward Partners Investment Advisory LLC now owns 3,582 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 1,735 shares during the period. Finally, Hantz Financial Services Inc. boosted its holdings in Ellington Financial by 535.9% in the third quarter. Hantz Financial Services Inc. now owns 6,181 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 5,209 shares during the last quarter. 55.62% of the stock is owned by hedge funds and other institutional investors.

About Ellington Financial

(Get Free Report)

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.

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