Ellington Financial (EFC) Declares $0.15 Dividend
Ellington Financial said on April 10, 2023 that its board of directors declared a regular monthly dividend of $0.15 per share ($1.80 annualized). Previously, the company paid $0.15 per share.
Shares must be purchased before the ex-div date of April 27, 2023 to qualify for the dividend. Shareholders of record as of April 28, 2023 will receive the payment on May 25, 2023.
At the current share price of $12.26 / share, the stock's dividend yield is 14.68%. Looking back five years and taking a sample every week, the average dividend yield has been 10.62%, the lowest has been 7.15%, and the highest has been 39.39%. The standard deviation of yields is 3.66 (n=194).
The current dividend yield is 1.11 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is -1.74. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.88%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 336 funds or institutions reporting positions in Ellington Financial.
This is an increase
of
6
owner(s) or 1.82% in the last quarter.
Average portfolio weight of all funds dedicated to EFC is 0.16%,
an increase
of 8.96%.
Total shares owned by institutions decreased
in the last three months by 0.69% to 37,224K shares.
The put/call ratio of EFC is 0.39, indicating a
bullish
outlook.
Analyst Price Forecast Suggests 20.38% Upside
As of April 7, 2023, the average one-year price target for Ellington Financial is $14.76. The forecasts range from a low of $13.89 to a high of $16.28. The average price target represents an increase of 20.38% from its latest reported closing price of $12.26.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Ellington Financial is $153MM, an increase of 267.16%. The projected annual non-GAAP EPS is $1.88.
What are Other Shareholders Doing?
QCEQRX - Equity Index Account Class R1 holds 17K shares representing 0.03% ownership of the company. No change in the last quarter.
Zurcher Kantonalbank holds 10K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 7K shares, representing an increase of 28.12%. The firm decreased its portfolio allocation in EFC by 99.86% over the last quarter.
New York State Teachers Retirement System holds 15K shares representing 0.02% ownership of the company. No change in the last quarter.
JOHN HANCOCK VARIABLE INSURANCE TRUST - Strategic Equity Allocation Trust Series NAV holds 9K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 9K shares, representing a decrease of 0.89%. The firm increased its portfolio allocation in EFC by 1.69% over the last quarter.
SEASONS SERIES TRUST - SA Multi-Managed Growth Portfolio Class 1 holds 0K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing a decrease of 12.90%. The firm decreased its portfolio allocation in EFC by 1.60% over the last quarter.
Ellington Financial Background Information
(This description is provided by the company.)
Ellington Financial invests in a diverse array of financial assets, including residential and commercial mortgage loans, residential and commercial mortgage-backed securities, consumer loans and asset-backed securities backed by consumer loans, collateralized loan obligations, non-mortgage and mortgage-related derivatives, equity investments in loan origination companies, and other strategic investments. Ellington Financial is externally managed and advised by Ellington Financial Management LLC, an affiliate of Ellington Management Group, L.L.C.
This story originally appeared on Fintel.