Ellington Financial Inc. (NYSE:EFC – Get Free Report) announced a monthly dividend on Wednesday, August 7th, Wall Street Journal reports. Stockholders of record on Friday, August 30th will be paid a dividend of 0.13 per share by the financial services provider on Wednesday, September 25th. This represents a $1.56 annualized dividend and a dividend yield of 11.83%. The ex-dividend date of this dividend is Friday, August 30th.
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 96.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Ellington Financial to earn $1.70 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 91.8%.
Ellington Financial Stock Performance
NYSE EFC opened at $13.19 on Wednesday. The business has a 50 day moving average price of $12.66 and a 200 day moving average price of $12.04. The company has a market capitalization of $1.12 billion, a P/E ratio of 20.61 and a beta of 1.97. Ellington Financial has a 1-year low of $10.88 and a 1-year high of $13.50. The company has a debt-to-equity ratio of 10.99, a current ratio of 46.79 and a quick ratio of 46.79.
Insider Buying and Selling at Ellington Financial
In other news, CIO Michael W. Vranos sold 8,300 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $12.11, for a total transaction of $100,513.00. Following the sale, the executive now owns 169,174 shares in the company, valued at $2,048,697.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Ellington Financial news, CIO Michael W. Vranos sold 5,900 shares of Ellington Financial stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $12.12, for a total transaction of $71,508.00. Following the transaction, the executive now directly owns 179,655 shares of the company’s stock, valued at $2,177,418.60. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CIO Michael W. Vranos sold 8,300 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $12.11, for a total transaction of $100,513.00. Following the sale, the executive now owns 169,174 shares of the company’s stock, valued at $2,048,697.14. The disclosure for this sale can be found here. In the last three months, insiders sold 22,500 shares of company stock worth $272,866. Insiders own 4.40% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on EFC shares. JMP Securities reduced their target price on Ellington Financial from $14.50 to $14.00 and set a “market outperform” rating on the stock in a research note on Wednesday, July 24th. StockNews.com raised Ellington Financial from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $13.85.
Get Our Latest Stock Report on Ellington Financial
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.
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