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

UWM Holdings Corporation (NYSE:UWMC) declared a quarterly dividend on Wednesday, May 6th. Investors of record on Thursday, June 18th will be paid a dividend of 0.10 per share on Thursday, July 9th. This represents a c) annualized dividend and a dividend yield of 11.5%. The ex-dividend date is Thursday, 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. Equities analysts expect UWM to earn $0.52 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 76.9%.

UWM Trading Up 1.6%

Shares of NYSE UWMC traded up $0.06 during midday trading on Wednesday, hitting $3.49. 49,367,885 shares of the company traded hands, compared to its average volume of 17,573,375. The firm has a market cap of $5.58 billion, a P/E ratio of 58.08 and a beta of 1.78. The company has a debt-to-equity ratio of 2.64, a quick ratio of 1.52 and a current ratio of 1.52. UWM has a 12-month low of $3.38 and a 12-month high of $7.14. The stock has a 50-day moving average price of $3.82 and a 200 day moving average price of $4.75.

UWM (NYSE:UWMC) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The business had revenue of $901.43 million for the quarter, compared to analysts’ expectations of $707.88 million. UWM had a net margin of 0.87% and a negative return on equity of 1.35%. As a group, analysts expect that UWM will post 0.41 earnings per share for the current year.

Insider Activity

In other news, CEO Ishbia Mat sold 1,003,333 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $3.57, for a total value of $3,581,898.81. Following the transaction, the chief executive officer owned 2,995,754 shares in the company, valued at approximately $10,694,841.78. This represents a 25.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 32,166,663 shares of company stock valued at $124,274,044 in the last 90 days. Corporate insiders own 80.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in UWMC. Allworth Financial LP lifted its stake in shares of UWM by 5,681.9% in the third quarter. Allworth Financial LP now owns 4,163 shares of the company’s stock worth $25,000 after buying an additional 4,091 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of UWM in the second quarter worth approximately $35,000. Farther Finance Advisors LLC lifted its stake in shares of UWM by 1,410.7% in the fourth quarter. Farther Finance Advisors LLC now owns 8,596 shares of the company’s stock worth $38,000 after buying an additional 8,027 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of UWM in the third quarter worth approximately $38,000. Finally, Fifth Third Bancorp bought a new position in shares of UWM in the first quarter worth approximately $41,000. Institutional investors own 53.59% of the company’s stock.

About UWM

United Wholesale Mortgage (NYSE: UWMC) is a leading mortgage lender in the United States specializing in the wholesale channel. The company partners with independent mortgage brokers, community banks and credit unions to offer a full suite of residential mortgage products. Through its network of third-party originators, United Wholesale Mortgage underwrites, funds and closes loans, allowing its partners to focus on customer acquisition and service.

The company’s product offerings include conventional fixed- and adjustable-rate mortgages, Federal Housing Administration (FHA) loans, Veterans Affairs (VA) loans, U.S.