UWM Holdings Co. (NYSE:UWMC – Get Free Report) declared a quarterly dividend on Tuesday, August 6th, Zacks reports. Stockholders of record on Thursday, September 19th will be given a dividend of 0.10 per share on Thursday, October 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date of this dividend is Thursday, September 19th.
UWM has a dividend payout ratio of 93.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect UWM to earn $0.44 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 90.9%.
UWM Trading Down 1.9 %
UWM stock opened at $8.94 on Wednesday. UWM has a 52-week low of $4.49 and a 52-week high of $9.74. The company has a market cap of $853.99 million, a P/E ratio of 297.83 and a beta of 1.63. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.87. The business has a 50-day simple moving average of $8.63 and a two-hundred day simple moving average of $7.50.
Analysts Set New Price Targets
Several research analysts have recently commented on UWMC shares. UBS Group raised their price objective on UWM from $4.50 to $4.75 and gave the stock a “sell” rating in a research note on Thursday, September 5th. The Goldman Sachs Group upped their price target on shares of UWM from $7.50 to $8.50 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Keefe, Bruyette & Woods raised their price objective on shares of UWM from $7.00 to $8.00 and gave the company a “market perform” rating in a research report on Wednesday, August 7th. Barclays increased their price target on UWM from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 9th. Finally, Wedbush boosted their price target on UWM from $7.00 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $7.39.
Check Out Our Latest Stock Report on UWM
Insider Buying and Selling at UWM
In related news, CEO Ishbia Mat sold 5,000,000 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $9.11, for a total value of $45,550,000.00. Following the completion of the transaction, the chief executive officer now owns 171,520 shares of the company’s stock, valued at approximately $1,562,547.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 94.11% of the stock is owned by company insiders.
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.
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