UWM Holdings Co. (NYSE:UWMC) Given Consensus Rating of “Hold” by Analysts

Shares of UWM Holdings Co. (NYSE:UWMC) have been assigned an average recommendation of “Hold” from the seven analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $7.39.

Several research firms recently issued reports on UWMC. Barclays upgraded UWM from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $6.00 to $8.00 in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods reduced their price objective on shares of UWM from $7.00 to $6.50 and set a “market perform” rating on the stock in a research report on Friday, January 3rd. The Goldman Sachs Group dropped their target price 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. 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 report on Thursday, December 19th.

Institutional Trading of UWM

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Los Angeles Capital Management LLC purchased a new stake in UWM in the 4th quarter worth about $578,000. Bank of New York Mellon Corp raised its holdings in shares of UWM by 15.7% in the fourth quarter. Bank of New York Mellon Corp now owns 1,087,978 shares of the company’s stock worth $6,386,000 after buying an additional 147,459 shares during the period. Ieq Capital LLC lifted its stake in shares of UWM by 273.3% during the 4th quarter. Ieq Capital LLC now owns 38,679 shares of the company’s stock worth $227,000 after acquiring an additional 28,319 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in UWM during the 4th quarter valued at $77,000. Finally, Allspring Global Investments Holdings LLC grew its position in UWM by 103.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 57,085 shares of the company’s stock valued at $322,000 after acquiring an additional 29,042 shares during the last quarter. Hedge funds and other institutional investors own 53.59% of the company’s stock.

UWM Trading Up 1.6 %

Shares of NYSE:UWMC opened at $5.98 on Wednesday. UWM has a 12-month low of $5.31 and a 12-month high of $9.74. The company has a market cap of $9.55 billion, a PE ratio of -25.98 and a beta of 1.66. The stock has a 50 day moving average of $6.03 and a 200 day moving average of $7.21. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.06.

UWM (NYSE:UWMC) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.07). The firm had revenue of $526.43 million for the quarter, compared to analysts’ expectations of $517.02 million. During the same period in the previous year, the business posted $0.29 earnings per share. As a group, equities research analysts expect that UWM will post 0.2 EPS for the current year.

UWM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Thursday, December 19th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.69%. The ex-dividend date of this dividend was Thursday, December 19th. UWM’s payout ratio is -173.91%.

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.