UWM (NYSE:UWMC) Price Target Cut to $6.50 by Analysts at Keefe, Bruyette & Woods

UWM (NYSE:UWMC) had its target price lowered by Keefe, Bruyette & Woods from $7.00 to $6.50 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a market perform rating on the stock.

Other research analysts also recently issued research reports about the stock. UBS Group lifted their price target on shares of UWM from $4.50 to $4.75 and gave the stock a “sell” rating in a research note on Thursday, September 5th. Barclays raised UWM from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $6.00 to $8.00 in a report on Tuesday, October 8th. Morgan Stanley lowered their price objective on shares of UWM from $7.50 to $6.50 and set an “equal weight” rating on the stock in a research report on Thursday, December 19th. Finally, The Goldman Sachs Group cut their price objective on shares of UWM from $8.50 to $7.50 and set a “neutral” rating for the company in a research report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $7.22.

UWM Stock Performance

Shares of UWMC stock opened at $5.77 on Friday. The stock has a market capitalization of $9.22 billion, a PE ratio of -25.09 and a beta of 1.65. The firm has a 50 day moving average of $6.14 and a two-hundred day moving average of $7.40. UWM has a 52 week low of $5.44 and a 52 week high of $9.74. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.06.

UWM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 19th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $0.40 dividend on an annualized basis and a yield of 6.93%. UWM’s dividend payout ratio (DPR) is presently -173.91%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in UWMC. Xponance Inc. purchased a new stake in shares of UWM during the second quarter worth about $76,000. Intech Investment Management LLC acquired a new position in shares of UWM in the 2nd quarter valued at $85,000. Orion Portfolio Solutions LLC acquired a new stake in shares of UWM during the 3rd quarter worth $85,000. Frank Rimerman Advisors LLC purchased a new position in shares of UWM in the 2nd quarter worth about $93,000. Finally, LJI Wealth Management LLC purchased a new stake in shares of UWM during the 2nd quarter worth about $105,000. Institutional investors and hedge funds own 53.59% of the company’s stock.

UWM Company Profile

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.