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

Shares of UWM Holdings Co. (NYSE:UWMC) have been given a consensus rating of “Hold” by the seven analysts that are presently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $6.86.

Several research firms have weighed in on UWMC. Keefe, Bruyette & Woods reduced their target price on UWM from $7.50 to $6.50 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. UBS Group upgraded UWM from a “sell” rating to a “neutral” rating and cut their price objective for the company from $4.75 to $4.50 in a report on Wednesday, April 16th. Wedbush reaffirmed a “neutral” rating and issued a $6.50 price objective on shares of UWM in a research report on Monday, March 3rd. Finally, The Goldman Sachs Group dropped their price target on UWM from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th.

UWM Stock Performance

Shares of UWMC stock opened at $4.13 on Friday. The stock has a market cap of $6.60 billion, a PE ratio of -17.96 and a beta of 1.75. The stock has a 50-day moving average of $4.97 and a 200-day moving average of $5.75. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.40. UWM has a one year low of $4.00 and a one year high of $9.74.

UWM (NYSE:UWMC) last posted its earnings results on Tuesday, May 6th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.29). The business had revenue of $613.37 million for the quarter, compared to the consensus estimate of $558.80 million. As a group, sell-side analysts expect that UWM will post 0.2 earnings per share for the current year.

UWM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be paid a dividend of $0.10 per share. The ex-dividend date is Wednesday, June 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 9.69%. UWM’s dividend payout ratio is -307.69%.

Institutional Trading of UWM

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of UWM by 37.6% in the fourth quarter. Vanguard Group Inc. now owns 11,764,910 shares of the company’s stock valued at $69,060,000 after buying an additional 3,212,081 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of UWM during the 4th quarter worth about $121,000. Wells Fargo & Company MN grew its stake in UWM by 9.9% in the 4th quarter. Wells Fargo & Company MN now owns 64,970 shares of the company’s stock valued at $381,000 after buying an additional 5,849 shares during the last quarter. Sanctuary Advisors LLC bought a new position in UWM in the 4th quarter valued at about $77,000. Finally, Bleakley Financial Group LLC grew its position in shares of UWM by 37.0% in the fourth quarter. Bleakley Financial Group LLC now owns 39,723 shares of the company’s stock valued at $233,000 after purchasing an additional 10,734 shares during the last quarter. Institutional investors and hedge funds own 53.59% of the company’s stock.

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.