UWM Holdings Co. (NYSE:UWMC) Declares $0.10 Quarterly Dividend

UWM Holdings Co. (NYSE:UWMC) announced a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Stockholders of record on Thursday, December 19th will be paid a dividend of 0.10 per share on Thursday, January 9th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.59%. The ex-dividend date of this dividend is Thursday, December 19th.

UWM has a payout ratio of 87.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect UWM to earn $0.49 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 81.6%.

UWM Stock Performance

Shares of NYSE:UWMC traded down $0.09 during trading on Friday, reaching $6.07. 162,828 shares of the stock were exchanged, compared to its average volume of 1,915,240. The firm has a market cap of $580.36 million, a PE ratio of -308.00 and a beta of 1.67. UWM has a 12 month low of $5.23 and a 12 month high of $9.74. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.87. The stock has a 50-day moving average price of $7.83 and a 200-day moving average price of $7.68.

UWM (NYSE:UWMC) last released its earnings results on Tuesday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.02). The firm had revenue of $507.09 million during the quarter, compared to the consensus estimate of $540.31 million. During the same quarter in the prior year, the business posted $0.11 earnings per share. Research analysts expect that UWM will post 0.26 EPS for the current fiscal year.

Insider Activity

In other news, CEO Ishbia Mat sold 1,200,000 shares of UWM stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $8.45, for a total transaction of $10,140,000.00. Following the sale, the chief executive officer now directly owns 171,520 shares of the company’s stock, valued at approximately $1,449,344. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 94.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on UWMC. UBS Group increased their price objective on shares of UWM from $4.50 to $4.75 and gave the stock a “sell” rating in a research note on Thursday, September 5th. Barclays upgraded shares of UWM from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $6.00 to $8.00 in a research report on Tuesday, October 8th. Wedbush boosted their price objective on shares of UWM from $7.00 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. BTIG Research raised their target price on UWM from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Finally, Morgan Stanley began coverage on UWM in a report on Tuesday. They set an “equal weight” rating and a $7.50 price target for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.66.

About UWM

UWM Holdings Corporation engages in the residential mortgage lending business in the United States. The company offers mortgage loans through wholesale channel. It originates primarily conforming and government loans. UWM Holdings Corporation was founded in 1986 and is headquartered in Pontiac, Michigan.