UWM Holdings Co. (NYSE:UWMC) Announces $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 dividend on an annualized basis and a dividend yield of 6.58%. The ex-dividend date is Thursday, March 20th.

UWM has a payout ratio of 70.2% meaning its dividend is sufficiently covered by earnings. 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

NYSE:UWMC traded down $0.13 during mid-day trading on Thursday, reaching $6.08. 4,523,051 shares of the company were exchanged, compared to its average volume of 3,405,743. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.06. The stock has a market cap of $9.71 billion, a PE ratio of -26.41 and a beta of 1.66. UWM has a 12 month low of $5.31 and a 12 month high of $9.74. The company has a fifty day moving average of $6.06 and a 200 day moving average of $7.01.

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

Wall Street Analysts Forecast Growth

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