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

UWM Holdings Co. (NYSE:UWMC) declared a quarterly dividend on Tuesday, August 6th, Zacks reports. Investors 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 annualized dividend and a dividend yield of 4.39%. The ex-dividend date is Thursday, September 19th.

UWM has a dividend payout ratio of 93.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. 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 Price Performance

NYSE UWMC opened at $9.11 on Tuesday. UWM has a twelve month low of $4.49 and a twelve month high of $9.74. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.48 and a current ratio of 1.48. The stock has a market capitalization of $870.72 million, a PE ratio of 303.67 and a beta of 1.63. The stock has a 50-day simple moving average of $8.59 and a 200 day simple moving average of $7.49.

UWM (NYSE:UWMC) last posted 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 company had revenue of $507.09 million during the quarter, compared to analyst estimates of $540.31 million. During the same period in the previous year, the company earned $0.11 earnings per share. Research analysts anticipate that UWM will post 0.28 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on UWMC shares. UBS Group boosted their price objective on UWM from $4.50 to $4.75 and gave the stock a “sell” rating in a research report on Thursday, September 5th. BTIG Research upped their price target on UWM from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. The Goldman Sachs Group upped their price target on UWM from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Thursday, August 8th. Wedbush upped their price target on UWM from $7.00 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, Keefe, Bruyette & Woods upped their price target on UWM from $7.00 to $8.00 and gave the company a “market perform” rating in a report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, UWM currently has a consensus rating of “Hold” and an average price target of $7.39.

Insider Transactions at UWM

In other news, CEO Ishbia Mat sold 5,000,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was 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 directly 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 is available at this link. 94.11% of the stock is currently owned by insiders.

UWM Company Profile

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.