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

UWM Holdings Co. (NYSE:UWMC) declared 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 is Thursday, March 20th.

UWM has a dividend 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

Shares of UWMC opened at $6.08 on Friday. UWM has a 1 year low of $5.31 and a 1 year high of $9.74. The stock has a market capitalization of $9.71 billion, a PE ratio of -26.41 and a beta of 1.66. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.40 and a current ratio of 1.40. The stock has a 50-day simple moving average of $6.06 and a 200-day simple moving average of $7.00.

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

Analyst Upgrades and Downgrades

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

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.