UWM Holdings Co. (UWMC) To Go Ex-Dividend on March 20th

UWM Holdings Co. (NYSE:UWMC) announced a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Investors of record on Thursday, March 20th will be given a dividend of 0.10 per share on Thursday, April 10th. This represents a $0.40 annualized dividend and a yield of 6.58%. The ex-dividend date of this dividend is Thursday, March 20th.

UWM has a payout ratio of 70.2% meaning its dividend is sufficiently covered by earnings. 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 Performance

NYSE:UWMC opened at $6.08 on Friday. The company’s 50-day moving average is $6.06 and its two-hundred day moving average is $7.00. The firm has a market capitalization of $9.71 billion, a price-to-earnings ratio of -26.41 and a beta of 1.66. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.40. UWM has a 1-year low of $5.31 and a 1-year high of $9.74.

UWM (NYSE:UWMC) last posted its earnings results 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 business had revenue of $560.21 million during the quarter, compared to the consensus estimate of $645.75 million. Analysts forecast that UWM will post 0.2 EPS for the current year.

Wall Street Analyst Weigh In

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