Truist Financial Corp increased its position in shares of UWM Holdings Co. (NYSE:UWMC – Get Rating) by 13.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 30,227 shares of the company’s stock after buying an additional 3,516 shares during the quarter. Truist Financial Corp’s holdings in UWM were worth $137,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Allegheny Financial Group LTD bought a new position in UWM in the fourth quarter valued at approximately $30,000. WealthPLAN Partners LLC bought a new position in UWM in the fourth quarter valued at approximately $52,000. Brookstone Capital Management bought a new position in UWM in the first quarter valued at approximately $69,000. CTC Capital Management LLC bought a new position in UWM in the fourth quarter valued at approximately $72,000. Finally, Pitcairn Co. bought a new position in UWM in the fourth quarter valued at approximately $76,000. 33.06% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research firms have weighed in on UWMC. Wedbush downgraded UWM from an “outperform” rating to a “neutral” rating and set a $5.00 price target for the company. in a research note on Tuesday, May 17th. Barclays decreased their price target on UWM from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Monday, July 11th. Argus cut UWM from a “buy” rating to a “hold” rating in a research report on Thursday, June 2nd. The Goldman Sachs Group cut their price objective on UWM from $5.25 to $4.60 and set a “neutral” rating for the company in a research report on Monday, April 4th. Finally, Credit Suisse Group cut their price objective on UWM to $3.75 in a research report on Friday, July 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $4.73.
UWM Stock Performance
UWM (NYSE:UWMC – Get Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.35. The business had revenue of $821.79 million during the quarter, compared to analysts’ expectations of $526.47 million. UWM had a return on equity of 13.31% and a net margin of 2.78%. During the same period last year, the firm posted $0.71 EPS. Research analysts anticipate that UWM Holdings Co. will post 0.19 earnings per share for the current year.
UWM Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 11th. Shareholders of record on Tuesday, June 21st were issued a $0.10 dividend. The ex-dividend date was Friday, June 17th. This represents a $0.40 annualized dividend and a yield of 10.61%. UWM’s dividend payout ratio is presently 71.43%.
UWM Company Profile
UWM Holdings Corporation engages in the residential mortgage lending business in the United States. The company originates 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.
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