UWM Holdings Co. (UWMC) To Go Ex-Dividend on June 18th

UWM Holdings Co. (NYSE:UWMC) announced a quarterly dividend on Wednesday, May 7th, Wall Street Journal reports. Shareholders of record on Wednesday, June 18th will be paid a dividend of 0.10 per share on Thursday, July 10th. This represents a $0.40 annualized dividend and a yield of 9.58%. The ex-dividend date of this dividend is Wednesday, June 18th.

UWM has a payout ratio of 83.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. 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 Stock Down 4.7%

NYSE:UWMC opened at $4.18 on Monday. UWM has a 1-year low of $3.89 and a 1-year high of $9.74. The firm has a market capitalization of $6.68 billion, a P/E ratio of -18.16 and a beta of 1.70. The company’s fifty day moving average price is $4.35 and its 200-day moving average price is $5.43. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.40.

UWM (NYSE:UWMC) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.29). The company had revenue of $613.37 million for the quarter, compared to analysts’ expectations of $558.80 million. As a group, equities research analysts anticipate that UWM will post 0.2 EPS for the current year.

Institutional Investors Weigh In On UWM

An institutional investor recently bought a new position in UWM stock. Focus Partners Wealth acquired a new position in shares of UWM Holdings Co. (NYSE:UWMC) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 10,073 shares of the company’s stock, valued at approximately $55,000. 53.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on UWMC shares. Keefe, Bruyette & Woods cut their price target on UWM from $7.50 to $6.50 and set an “outperform” rating for the company in a research note on Wednesday, May 7th. The Goldman Sachs Group dropped their price target on UWM from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Wednesday, May 7th. UBS Group raised UWM from a “sell” rating to a “neutral” rating and dropped their target price for the stock from $4.75 to $4.50 in a research report on Wednesday, April 16th. Finally, Wedbush reaffirmed a “neutral” rating and set a $6.50 target price on shares of UWM in a report on Monday, March 3rd. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $6.86.

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.