UWM Holdings Co. (UWMC) to Issue Quarterly Dividend of $0.10 on April 10th

UWM Holdings Co. (NYSE:UWMC) declared a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Shareholders 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 6.45%. The ex-dividend date is Thursday, March 20th.

UWM has a payout ratio of 75.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities 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 Price Performance

UWM stock opened at $6.20 on Tuesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.40 and a current ratio of 1.40. UWM has a one year low of $5.31 and a one year high of $9.74. The company has a market cap of $9.91 billion, a P/E ratio of -26.97 and a beta of 1.64. The business has a fifty day moving average of $6.16 and a two-hundred day moving average of $6.72.

UWM (NYSE:UWMC) last posted its earnings results on Wednesday, February 26th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate 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. As a group, analysts predict that UWM will post 0.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Keefe, Bruyette & Woods upgraded shares of UWM from a “market perform” rating to an “outperform” rating and raised their target price for the company from $6.50 to $7.50 in a report on Monday, March 3rd. Morgan Stanley decreased their price target on shares of UWM from $7.50 to $6.50 and set an “equal weight” rating on the stock in a research note on Thursday, December 19th. Finally, Wedbush reissued a “neutral” rating and issued a $6.50 price objective on shares of UWM in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target 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.