UWM Holdings Co. (UWMC) To Go Ex-Dividend on September 19th

UWM Holdings Co. (NYSE:UWMC) announced a quarterly dividend on Tuesday, August 6th, Zacks reports. Stockholders of record on Thursday, September 19th will be paid a dividend of 0.10 per share on Thursday, October 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date of this dividend is Thursday, September 19th.

UWM has a dividend payout ratio of 93.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect UWM to earn $0.44 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 90.9%.

UWM Stock Down 0.3 %

Shares of UWM stock opened at $9.11 on Tuesday. UWM has a 12-month low of $4.49 and a 12-month high of $9.74. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $870.72 million, a PE ratio of 303.67 and a beta of 1.63. The stock’s fifty day moving average is $8.59 and its 200-day moving average is $7.49.

UWM (NYSE:UWMC) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The firm had revenue of $507.09 million during the quarter, compared to analyst estimates of $540.31 million. During the same quarter last year, the company earned $0.11 EPS. Equities analysts anticipate that UWM will post 0.28 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on UWMC. Keefe, Bruyette & Woods lifted their price target on UWM from $7.00 to $8.00 and gave the company a “market perform” rating in a report on Wednesday, August 7th. The Goldman Sachs Group boosted their target price on UWM from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Wedbush boosted their target price on UWM from $7.00 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Barclays boosted their target price on UWM from $5.00 to $6.00 and gave the company an “underweight” rating in a research note on Tuesday, July 9th. Finally, UBS Group boosted their target price on UWM from $4.50 to $4.75 and gave the company a “sell” rating in a research note on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $7.39.

Insider Buying and Selling at UWM

In other news, CEO Ishbia Mat sold 5,000,000 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $9.11, for a total transaction of $45,550,000.00. Following the completion of the sale, the chief executive officer now owns 171,520 shares in the company, valued at approximately $1,562,547.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 94.11% of the company’s stock.

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.