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

UWM Holdings Co. (NYSE:UWMC) declared 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 annualized dividend and a dividend yield of 6.59%. The ex-dividend date 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 Price Performance

UWMC traded down $0.09 during trading on Friday, reaching $6.07. 328,084 shares of the company were exchanged, compared to its average volume of 1,916,001. UWM has a 12-month low of $5.23 and a 12-month high of $9.74. The company’s 50-day moving average is $7.83 and its two-hundred day moving average is $7.68. 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 company has a market cap of $580.36 million, a price-to-earnings ratio of -308.00 and a beta of 1.67.

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

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods upped their target price on shares of UWM from $7.00 to $8.00 and gave the stock a “market perform” rating in a report on Wednesday, August 7th. The Goldman Sachs Group increased their price objective on UWM from $7.50 to $8.50 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Wedbush boosted their target price on UWM from $7.00 to $8.50 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Barclays raised UWM from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $6.00 to $8.00 in a report on Tuesday, October 8th. Finally, Morgan Stanley assumed coverage on UWM in a report on Tuesday. They set an “equal weight” rating and a $7.50 price objective for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $7.66.

Insider Buying and Selling

In other UWM news, CEO Ishbia Mat sold 1,200,000 shares of UWM stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $8.45, for a total transaction of $10,140,000.00. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 94.11% of the stock is currently owned by corporate 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.