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

UWM Holdings Co. (NYSE:UWMC) declared a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Shareholders of record on Thursday, March 20th will be paid a dividend of 0.10 per share on Thursday, April 10th. This represents a $0.40 dividend on an annualized basis and a yield of 6.58%. The ex-dividend date is Thursday, March 20th.

UWM has a payout ratio of 70.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect UWM to earn $0.46 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 87.0%.

UWM Stock Down 2.0 %

Shares of NYSE UWMC traded down $0.13 during trading hours on Thursday, hitting $6.08. 4,523,032 shares of the stock were exchanged, compared to its average volume of 3,405,592. The company has a market cap of $9.71 billion, a PE ratio of -26.41 and a beta of 1.66. UWM has a 12 month low of $5.31 and a 12 month high of $9.74. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.06. The firm has a fifty day moving average price of $6.06 and a 200-day moving average price of $7.01.

UWM (NYSE:UWMC) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). The firm had revenue of $560.21 million for the quarter, compared to analysts’ expectations of $645.75 million. On average, sell-side analysts expect that UWM will post 0.2 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods decreased their price objective on UWM from $7.00 to $6.50 and set a “market perform” rating for the company in a report on Friday, January 3rd. Morgan Stanley decreased their price objective on UWM from $7.50 to $6.50 and set an “equal weight” rating for the company in a report on Thursday, December 19th. Finally, The Goldman Sachs Group decreased their price objective on UWM from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $7.39.

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.