EFC News & Events

Reports Q4 net interest margin on credit portfolio 3.37% from 3.65% in Q3. Book value per common share was $13.16 from $13.40 at previous quarter end. "Ellington Financial reported another quarter of positive results, driven by our loan origination and securitization businesses, and supported by strengthening credit performance across our diversified loan portfolios," said CEO Laurence Penn. "Once again, our adjusted distributable earnings substantially exceeded our dividends, with particularly strong contributions from our Longbridge segment...As we move into 2026, we remain focused on maintaining strong credit performance and disciplined portfolio growth, while increasing market share in loan originations and scaling our securitization platform. We also continue to optimize our capital structure and balance sheet. Following year-end, we raised common equity on an accretive basis with a highly targeted use of proceeds, namely retiring our highest-cost preferred equity. We will monitor the preferred equity market with an eye toward potentially refinancing that capital at a lower cost. Meanwhile, moving to the debt side of our balance sheet, we expect over time to continue to increase the share of unsecured, non-mark-to-market, and long-term financings. We believe that all these actions will drive an increasingly resilient earnings and dividend stream for shareholders."

The deal range was $13.50-$13.86. Morgan Stanley and Goldman Sachs acted as joint book running managers for the offering.

Ellington Financial "announced that it has priced an underwritten public offering of 8,775,000 shares of its common stock for total expected gross proceeds of $118.5 million, before underwriting fees and estimated offering expenses. The Company also granted the underwriters an option for 30 days to purchase up to an additional 1,316,250 shares of common stock. The offering is subject to customary closing conditions and is expected to close on January 28, 2026. Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC are acting as joint book-running managers for the offering."

Following a softer open in the futures markets overnight amid fears of another government shutdown, U.S. indices recovered at the start of the week with another session of gains.  Strength in shares of Alphabetand Meta Platformspropelled the Communication Services to the top of the sector rankings in the S&P 500 for the day.  Apple's3% gain supported the Tech sector, while Utilities ranked 3rd on the benchmark index in terms of performance.In the opening hour of the evening session, sentiment is a bit more mixed.  Dow Industrials futures are negative, weighed down by shares of United Healthwhich is falling 9% afterhours as CMS released Medicare Advantage 2027 price increase plan that are nowhere near consensus estimates.  S&P e-minis are flat while Nasdaq 100 is up 0.2%, with investors proving to be more willing to overlook threats of protectionism after President Trump announced a 10 point increase on exports from South Korea to 25%.  Korea's Kospi, however, is headed for a lower open as the South Korea MSCI ETF - EWY - was down 1% on the news.In commodities, precious metals are well off Monday's highs - Gold is below $5,040 after rising over $5,100 while Silver is at $107 per ounce after approaching $120 earlier in the day.  WTI Crude Oil is slightly firmer, trading just below $61 per barrel.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Triumph Financialup 3.5%FirstSun Capitalup 3.0%Gracoup 2.0%Alexandria Real Estate Equitiesup 1.3%W. R. Berkleyup 0.5%Craneup 0.5%DOWN AFTER EARNINGS -Agilysysdown 12.7%Sanminadown 8.2%Brown & Browndown 6.1%Nucordown 3.0%Park Nationaldown 0.9%Enterprise Financial Servicesdown 0.8%ALSO LOWER -UnitedHealthdown 8.7%, Oscar Healthdown 3.0%, Molinadown 3.0%, Humanadown 12.5%, CVS Healthdown 9.4% after Centers for Medicare & Medicaid Services release of 2027 Advance Notice for Medicare Advantage rate plan calling for just 0.09% increase vs. 4%-6% analyst estimatesEllington Financialdown 2.2% after equity offering