Bank of New York Mellon Corp Raises Stock Position in UWM Holdings Co. (NYSE:UWMC)

Bank of New York Mellon Corp lifted its position in UWM Holdings Co. (NYSE:UWMC) by 15.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,087,978 shares of the company’s stock after buying an additional 147,459 shares during the period. Bank of New York Mellon Corp owned approximately 0.07% of UWM worth $6,386,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Sanctuary Advisors LLC acquired a new stake in UWM during the 4th quarter valued at approximately $77,000. HB Wealth Management LLC lifted its stake in shares of UWM by 23.0% in the 4th quarter. HB Wealth Management LLC now owns 14,053 shares of the company’s stock valued at $82,000 after purchasing an additional 2,631 shares during the period. Orion Portfolio Solutions LLC acquired a new position in shares of UWM in the 3rd quarter valued at $85,000. Quantinno Capital Management LP acquired a new position in UWM during the third quarter worth $106,000. Finally, Secure Asset Management LLC acquired a new position in UWM during the fourth quarter worth $119,000. Hedge funds and other institutional investors own 53.59% of the company’s stock.

UWM Stock Performance

Shares of UWM stock opened at $5.94 on Monday. The firm has a market capitalization of $9.49 billion, a P/E ratio of -25.80 and a beta of 1.64. UWM Holdings Co. has a 52 week low of $5.31 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. The firm’s 50 day moving average is $6.15 and its two-hundred day moving average is $6.74.

UWM (NYSE:UWMC) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.01 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 forecast that UWM Holdings Co. will post 0.2 EPS for the current fiscal year.

UWM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 20th will be given 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 6.74%. UWM’s dividend payout ratio (DPR) is 500.00%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wedbush reaffirmed a “neutral” rating and set a $6.50 target price on shares of UWM in a report on Monday, March 3rd. Keefe, Bruyette & Woods raised shares of UWM from a “market perform” rating to an “outperform” rating and upped their target price for the company from $6.50 to $7.50 in a research report on Monday, March 3rd. Finally, Morgan Stanley reduced their price target 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, UWM has a consensus rating of “Hold” and an average price target of $7.25.

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.