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

UWM Holdings Co. (NYSE:UWMC - Get Free Report) announced a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Investors 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 dividend on an annualized basis and a yield of 6.43%. The ex-dividend date of this dividend is Thursday, December 19th.

UWM has a dividend 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 fall. 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 Stock Performance

UWM stock traded up $0.06 during midday trading on Friday, reaching $6.23. The stock had a trading volume of 3,624,919 shares, compared to its average volume of 1,931,194. UWM has a 12 month low of $5.23 and a 12 month high of $9.74. The firm's 50-day moving average price is $7.83 and its 200 day moving average price is $7.68. The firm has a market capitalization of $595.18 million, a PE ratio of -308.00 and a beta of 1.67. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.87.

UWM (NYSE:UWMC - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $507.09 million during the quarter, compared to analyst estimates of $540.31 million. During the same quarter in the prior year, the company earned $0.11 EPS. As a group, research analysts predict that UWM will post 0.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Ishbia Mat sold 1,200,000 shares of the company's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $8.45, for a total value of $10,140,000.00. Following the transaction, the chief executive officer now directly owns 171,520 shares in the company, valued at approximately $1,449,344. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 94.11% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on UWMC shares. 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 research report on Thursday, August 8th. BTIG Research upped their price target on UWM from $8.00 to $10.00 and gave the company a "buy" rating in a research report on Tuesday, August 6th. 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 research report on Wednesday, August 7th. Morgan Stanley started coverage on UWM in a research report on Tuesday. They set an "equal weight" rating and a $7.50 price target on the stock. Finally, UBS Group upped their price target on UWM from $4.50 to $4.75 and gave the company a "sell" rating in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $7.66.

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.