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

UWM Holdings Co. (NYSE:UWMC) declared a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Investors 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 annualized dividend and a yield of 6.59%. The ex-dividend date of this dividend is Thursday, December 19th.

UWM has a dividend payout ratio of 87.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities 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

UWMC traded down $0.09 on Friday, hitting $6.07. 162,828 shares of the stock traded hands, compared to its average volume of 1,915,240. UWM has a 52 week low of $5.23 and a 52 week high of $9.74. The firm has a market capitalization of $580.36 million, a PE ratio of -308.00 and a beta of 1.67. The business has a fifty day moving average price of $7.83 and a two-hundred day moving average price of $7.68. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.87.

UWM (NYSE:UWMC) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.04 earnings per share 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 company posted $0.11 EPS. On average, research analysts predict that UWM will post 0.26 EPS for the current fiscal year.

Insider Activity

In related news, CEO Ishbia Mat sold 1,200,000 shares of the firm’s stock in a transaction on 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 owns 171,520 shares of the company’s stock, valued at approximately $1,449,344. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 94.11% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

UWMC has been the topic of a number of research analyst reports. Wedbush increased their price target on UWM from $7.00 to $8.50 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. UBS Group upped their price objective on UWM from $4.50 to $4.75 and gave the stock a “sell” rating in a report on Thursday, September 5th. The Goldman Sachs Group upped their price objective on UWM from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Morgan Stanley initiated coverage on UWM in a report on Tuesday. They set an “equal weight” rating and a $7.50 price objective on the stock. Finally, Keefe, Bruyette & Woods upped their price objective on UWM from $7.00 to $8.00 and gave the stock a “market perform” rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target 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.