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

UWM Holdings Co. (NYSE:UWMC) announced a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 6.45%. The ex-dividend date of this dividend is Thursday, March 20th.

UWM has a dividend payout ratio of 75.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research 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 Trading Up 4.3 %

UWMC opened at $6.20 on Tuesday. The firm has a market capitalization of $9.91 billion, a P/E ratio of -26.97 and a beta of 1.64. The firm’s 50 day moving average is $6.16 and its 200-day moving average is $6.72. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.06. UWM has a 52-week low of $5.31 and a 52-week high of $9.74.

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Morgan Stanley dropped their target price 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. Wedbush reissued a “neutral” rating and issued a $6.50 target price on shares of UWM in a research report on Monday, March 3rd. Finally, Keefe, Bruyette & Woods raised shares of UWM from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $6.50 to $7.50 in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $7.25.

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.