UWM Holdings Corporation (NYSE:UWMC) Declares Quarterly Dividend of $0.10

UWM Holdings Corporation (NYSE:UWMC) announced a quarterly dividend on Thursday, November 6th. Investors of record on Thursday, December 18th will be given a dividend of 0.10 per share on Thursday, January 8th. This represents a c) dividend on an annualized basis and a yield of 7.8%. The ex-dividend date is Thursday, December 18th.

UWM has a dividend payout ratio of 83.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. 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 Trading Down 9.7%

NYSE:UWMC traded down $0.55 during trading hours on Thursday, hitting $5.11. 20,819,709 shares of the stock were exchanged, compared to its average volume of 6,700,093. The company’s 50 day moving average is $5.94 and its two-hundred day moving average is $4.96. UWM has a twelve month low of $3.80 and a twelve month high of $7.14. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.85. The company has a market capitalization of $8.17 billion, a P/E ratio of -102.20 and a beta of 1.79.

UWM (NYSE:UWMC) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). UWM had a negative return on equity of 5.56% and a net margin of 0.48%.The firm had revenue of $843.25 million for the quarter, compared to analyst estimates of $651.51 million. On average, sell-side analysts anticipate that UWM will post 0.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other UWM news, CEO Ishbia Mat sold 596,356 shares of the stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $5.69, for a total value of $3,393,265.64. Following the sale, the chief executive officer directly owned 5,636,256 shares in the company, valued at approximately $32,070,296.64. This trade represents a 9.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold a total of 19,716,748 shares of company stock valued at $114,935,484 over the last ninety days. 87.50% of the stock is currently owned by corporate insiders.

Institutional Trading of UWM

A number of large investors have recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in UWM by 101.8% during the 1st quarter. GAMMA Investing LLC now owns 5,863 shares of the company’s stock worth $32,000 after buying an additional 2,958 shares during the period. Raymond James Financial Inc. bought a new stake in shares of UWM in the second quarter worth about $35,000. Signaturefd LLC raised its position in shares of UWM by 135.4% during the first quarter. Signaturefd LLC now owns 8,159 shares of the company’s stock worth $45,000 after purchasing an additional 4,693 shares during the period. R Squared Ltd bought a new position in shares of UWM during the 2nd quarter valued at about $51,000. Finally, Quarry LP bought a new position in shares of UWM during the 1st quarter valued at about $53,000. Institutional investors own 53.59% of the company’s stock.

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.