UWM Holdings Co. (NYSE:UWMC) Receives $7.25 Average PT from Brokerages

Shares of UWM Holdings Co. (NYSE:UWMC) have earned an average recommendation of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $7.25.

UWMC has been the subject of a number of analyst reports. Keefe, Bruyette & Woods raised shares of UWM from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $6.50 to $7.50 in a research report on Monday, March 3rd. Wedbush restated a “neutral” rating and set a $6.50 price objective on shares of UWM in a research note on Monday, March 3rd. Finally, Morgan Stanley reduced their target price on UWM from $7.50 to $6.50 and set an “equal weight” rating for the company in a research note on Thursday, December 19th.

Institutional Trading of UWM

Hedge funds have recently made changes to their positions in the stock. First Trust Advisors LP increased its position in UWM by 886.9% in the fourth quarter. First Trust Advisors LP now owns 3,727,477 shares of the company’s stock worth $21,880,000 after buying an additional 3,349,779 shares during the period. Vanguard Group Inc. increased its holdings in shares of UWM by 37.6% in the 4th quarter. Vanguard Group Inc. now owns 11,764,910 shares of the company’s stock worth $69,060,000 after acquiring an additional 3,212,081 shares during the period. Philadelphia Financial Management of San Francisco LLC bought a new stake in UWM in the 3rd quarter valued at about $21,797,000. FMR LLC boosted its stake in UWM by 24.5% during the 3rd quarter. FMR LLC now owns 10,218,728 shares of the company’s stock valued at $87,064,000 after purchasing an additional 2,010,985 shares during the period. Finally, Basswood Capital Management L.L.C. bought a new position in UWM in the 4th quarter worth about $6,602,000. Institutional investors own 53.59% of the company’s stock.

UWM Trading Down 1.1 %

NYSE:UWMC opened at $5.63 on Thursday. UWM has a 12 month low of $5.31 and a 12 month high of $9.74. The business’s 50-day moving average is $6.16 and its two-hundred day moving average is $6.53. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.40. The firm has a market capitalization of $8.99 billion, a PE ratio of -24.46 and a beta of 1.64.

UWM (NYSE:UWMC) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). The business had revenue of $560.21 million for the quarter, compared to the consensus estimate of $645.75 million. Research analysts predict that UWM will post 0.2 earnings per share for the current fiscal year.

UWM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th will be issued a $0.10 dividend. The ex-dividend date is Thursday, March 20th. This represents a $0.40 dividend on an annualized basis and a yield of 7.11%. UWM’s dividend payout ratio is currently 500.00%.

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.