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

UWM Holdings Co. (NYSE:UWMC) 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 annualized dividend and a yield of 6.69%. The ex-dividend date is Thursday, December 19th.

UWM has a dividend payout ratio of 87.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research 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

Shares of UWMC opened at $5.98 on Tuesday. The firm has a market cap of $9.55 billion, a P/E ratio of -25.98 and a beta of 1.65. 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 twelve month low of $5.67 and a twelve month high of $9.74. The firm’s 50 day moving average price is $6.52 and its two-hundred day moving average price is $7.56.

Analysts Set New Price Targets

A number of equities analysts have weighed in on UWMC shares. Morgan Stanley began coverage on UWM in a research report on Tuesday, November 5th. They set an “equal weight” rating and a $7.50 price target for the company. UBS Group upped their target price on UWM from $4.50 to $4.75 and gave the company a “sell” rating in a research report on Thursday, September 5th. Barclays upgraded shares of UWM from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $6.00 to $8.00 in a research report on Tuesday, October 8th. The Goldman Sachs Group decreased their target price on shares of UWM from $8.50 to $7.50 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Finally, Keefe, Bruyette & Woods dropped their price objective on UWM from $9.00 to $7.00 and set a “market perform” rating for the company in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $7.41.

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.