Truist Financial Corp Sells 5,591 Shares of UWM Holdings Co. (NYSE:UWMC)

Truist Financial Corp cut its stake in UWM Holdings Co. (NYSE:UWMC) by 21.8% in the second quarter, HoldingsChannel.com reports. The fund owned 20,070 shares of the company’s stock after selling 5,591 shares during the period. Truist Financial Corp’s holdings in UWM were worth $139,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. ORG Partners LLC purchased a new stake in UWM during the first quarter valued at $29,000. Atlas Capital Advisors LLC grew its stake in shares of UWM by 190.5% during the 1st quarter. Atlas Capital Advisors LLC now owns 5,046 shares of the company’s stock valued at $37,000 after purchasing an additional 3,309 shares during the period. CWM LLC increased its position in shares of UWM by 96.4% during the 2nd quarter. CWM LLC now owns 6,471 shares of the company’s stock valued at $45,000 after purchasing an additional 3,177 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of UWM in the 2nd quarter worth approximately $52,000. Finally, SageView Advisory Group LLC purchased a new position in shares of UWM in the first quarter worth approximately $55,000. 53.59% of the stock is owned by hedge funds and other institutional investors.

UWM Price Performance

NYSE:UWMC opened at $7.29 on Monday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.87. UWM Holdings Co. has a 52 week low of $4.77 and a 52 week high of $9.74. The business’s 50-day simple moving average is $8.56 and its two-hundred day simple moving average is $7.68. The stock has a market cap of $696.76 million, a PE ratio of 243.00 and a beta of 1.63.

UWM (NYSE:UWMC) last issued its earnings results on Tuesday, August 6th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The company had revenue of $507.09 million for the quarter, compared to analysts’ expectations of $540.31 million. During the same period last year, the company posted $0.11 EPS. As a group, analysts forecast that UWM Holdings Co. will post 0.26 EPS for the current fiscal year.

UWM Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 19th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.49%. The ex-dividend date was Thursday, September 19th. UWM’s dividend payout ratio (DPR) is presently 1,333.33%.

Insiders Place Their Bets

In other news, CEO Ishbia Mat sold 1,200,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $8.45, for a total transaction of $10,140,000.00. Following the transaction, the chief executive officer now owns 171,520 shares of the company’s stock, valued at approximately $1,449,344. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 94.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on UWMC shares. Barclays raised shares of UWM from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $6.00 to $8.00 in a report on Tuesday, October 8th. Wedbush upped their price objective on UWM from $7.00 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group lifted their target price on UWM from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Thursday, August 8th. UBS Group upped their price target on UWM from $4.50 to $4.75 and gave the stock a “sell” rating in a research report on Thursday, September 5th. Finally, BTIG Research lifted their price objective on UWM from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $7.68.

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.