Ellington Financial Inc Stock Price, News & Analysis

Ellington Financial Inc. (NYSE: EFC) announced an estimated book value per share of $15.12 as of February 28, 2023. This estimate factors in a $0.15 monthly dividend payable on March 27, 2023, with the record date set for February 28 and an ex-dividend date of February 27. The company cautioned that this estimated book value is subject to change based on its month-end valuation procedures, and may not reflect future performance. It also highlighted that actual results could differ due to various risks and uncertainties, including market conditions and regulatory changes.

Ellington Financial Inc. (NYSE: EFC) has authorized a new repurchase program for up to $50 million of its common stock, building on its previous authority for 1.55 million shares established in 2018. The company has already repurchased nearly all of those shares. The new buyback program does not impose any obligation to acquire specific shares and has no definitive termination date, as repurchases will depend on market conditions and liquidity. The company intends to use available liquidity to fund these repurchases, which may occur through various methods.

Ellington Financial Inc. (NYSE: EFC) has declared a monthly dividend of $0.15 per share, payable on April 25, 2023, for stockholders of record as of March 31, 2023. Additionally, the company will distribute quarterly dividends for its preferred stocks: $0.421875 for Series A, $0.390625 for Series B, and $0.50313 for Series C, all payable on May 1, 2023, with the same record date. These dividends reflect Ellington Financial's strategy in diversifying its investments across mortgage and consumer-related assets.

Ellington Financial Inc. (NYSE: EFC) has announced an estimated book value per share of $15.00 as of January 31, 2023. This estimate factors in the monthly dividend of $0.15 per share, payable on February 27, 2023, to stockholders of record on January 31, 2023. The ex-dividend date is January 30, 2023.

The company cautions that the estimated book value is subject to change and may not reflect future financial performance. Additionally, forward-looking statements in the release include various risks and uncertainties that could lead to actual results differing significantly from projections.

Ellington Financial Inc. (NYSE: EFC) reported Q4 2022 financial results with a net income of $22.7 million, equating to $0.37 per share. The investment portfolio contributed $19.0 million, with $7.2 million from credit and $11.8 million from the Agency strategy. Adjusted Distributable Earnings amounted to $26.0 million, or $0.42 per share. The book value stood at $15.05, with a dividend yield of 13.4%. The Company experienced a decrease in its credit portfolio, down 7% to $2.544 billion. Longbridge, acquired in October 2022, yielded positive performance despite lower origination volumes. The recourse debt-to-equity ratio was 2.5:1, reflecting effective risk management.

Ellington Financial Inc. (NYSE: EFC) will announce its financial results for the quarter ending December 31, 2022, after market close on February 23, 2023. A conference call will be held on February 24, 2023, at 11:00 a.m. ET to discuss these results. Participants can join by dialing 800-343-4849 or 203-518-9708 for international calls, using the conference code EFCQ422. A replay of the call will be available starting February 24, 2023, at 2:00 p.m. ET. An investor presentation will also be posted on the company’s website following the financial results release.

Ellington Financial Inc. (NYSE: EFC) has successfully closed a $330 million securitization backed by non-qualified residential mortgage loans. The firm contributed around 53% of the loans in this securitization, while the remainder was provided by funds managed by Ellington Management Group. The securitization has received favorable ratings, with the senior tranche earning AAA ratings from both Fitch and KBRA. This move strengthens Ellington Financial's position in the market, highlighting its strategic involvement in mortgage-backed securities.

Ellington Financial Inc. (NYSE: EFC) has declared a monthly dividend of $0.15 per common share, which will be paid on March 27, 2023. The record date for stockholders is February 28, 2023. This dividend reflects the company's ongoing commitment to returning value to its shareholders, as it continues to navigate a complex economic environment. Additionally, the company manages a diverse portfolio of financial assets, including mortgage loans and various securities, under the guidance of Ellington Financial Management LLC.

Ellington Financial Inc. (NYSE: EFC) has announced a public offering of 4 million shares of its 8.625% Series C Fixed-Rate Reset Cumulative Redeemable Preferred Stock, priced at $25 per share, aiming for gross proceeds of $100 million. Underwriters have an option to purchase an additional 600,000 shares for over-allotments. The offering, expected to close around February 6, 2022, will use the net proceeds for asset acquisition and general corporate purposes. The Series C shares will be listed on the New York Stock Exchange under the symbol 'EFC PR C.'