UWM Holdings Corporation (UWMC) to Issue Quarterly Dividend of $0.10 on April 9th

UWM Holdings Corporation (NYSE:UWMC) declared a quarterly dividend on Wednesday, February 25th. Shareholders of record on Thursday, March 19th will be given a dividend of 0.10 per share on Thursday, April 9th. This represents a c) dividend on an annualized basis and a yield of 11.0%. The ex-dividend date is Thursday, March 19th.

UWM has a 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 tumble. Equities 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 0.7%

Shares of UWMC stock opened at $3.64 on Tuesday. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 2.64. The firm has a market cap of $5.82 billion, a P/E ratio of 60.58 and a beta of 1.90. The company has a 50 day moving average of $4.87 and a 200-day moving average of $5.33. UWM has a 12-month low of $3.62 and a 12-month high of $7.14.

UWM (NYSE:UWMC) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.01). UWM had a net margin of 0.87% and a negative return on equity of 1.35%. The firm had revenue of $945.25 million for the quarter, compared to the consensus estimate of $759.12 million. Sell-side analysts anticipate that UWM will post 0.2 earnings per share for the current year.

Insider Activity

In related news, CEO Ishbia Mat sold 1,000,574 shares of UWM stock in a transaction on Monday, March 16th. The stock was sold at an average price of $3.70, for a total transaction of $3,702,123.80. Following the completion of the sale, the chief executive officer owned 12,335,597 shares of the company’s stock, valued at approximately $45,641,708.90. This trade represents a 7.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 20,839,274 shares of company stock valued at $99,204,360 in the last quarter. Company insiders own 94.11% of the company’s stock.

Institutional Trading of UWM

Several institutional investors and hedge funds have recently modified their holdings of UWMC. Vanguard Group Inc. boosted its position in shares of UWM by 9.7% during the 4th quarter. Vanguard Group Inc. now owns 18,959,442 shares of the company’s stock valued at $83,042,000 after acquiring an additional 1,676,754 shares during the last quarter. Azora Capital LP increased its position in shares of UWM by 230.8% in the fourth quarter. Azora Capital LP now owns 11,296,053 shares of the company’s stock worth $49,477,000 after purchasing an additional 7,881,586 shares during the last quarter. Brandes Investment Partners LP purchased a new stake in UWM in the fourth quarter valued at approximately $45,867,000. Balyasny Asset Management L.P. raised its stake in UWM by 116.6% in the second quarter. Balyasny Asset Management L.P. now owns 5,991,072 shares of the company’s stock valued at $24,803,000 after purchasing an additional 3,224,806 shares in the last quarter. Finally, Integrated Investment Consultants LLC bought a new stake in UWM during the third quarter valued at approximately $32,630,000. Hedge funds and other 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.