UWM Holdings Co. (NYSE:UWMC – Get Free Report) announced a quarterly dividend on Wednesday, August 9th, Zacks reports. Investors of record on Wednesday, September 20th will be paid a dividend of 0.10 per share on Wednesday, October 11th. This represents a $0.40 dividend on an annualized basis and a yield of 7.41%. The ex-dividend date of this dividend is Tuesday, September 19th.
UWM Trading Down 0.4 %
Shares of UWMC stock opened at $5.40 on Friday. The firm has a market cap of $502.82 million, a P/E ratio of 108.00 and a beta of 1.53. UWM has a 1-year low of $2.84 and a 1-year high of $6.98. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.79 and a quick ratio of 1.79. The firm’s 50-day simple moving average is $5.96 and its 200-day simple moving average is $5.47.
Analyst Upgrades and Downgrades
UWMC has been the topic of several research reports. JMP Securities lowered shares of UWM from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 8th. Morgan Stanley raised their price target on shares of UWM from $5.00 to $6.00 and gave the company an “equal weight” rating in a report on Thursday, August 10th. UBS Group raised their price target on shares of UWM from $4.50 to $6.00 and gave the company a “neutral” rating in a report on Wednesday, August 30th. The Goldman Sachs Group raised their price target on shares of UWM from $6.00 to $6.75 and gave the company a “neutral” rating in a report on Thursday, August 10th. Finally, Wedbush increased their price objective on shares of UWM from $5.00 to $6.50 and gave the company a “neutral” rating in a research report on Thursday, August 10th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, UWM currently has a consensus rating of “Hold” and an average price target of $5.33.
Insiders Place Their Bets
In other UWM news, Director Robert Verdun acquired 40,000 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was purchased at an average price of $5.20 per share, with a total value of $208,000.00. Following the completion of the acquisition, the director now directly owns 204,725 shares in the company, valued at approximately $1,064,570. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 94.20% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On UWM
Hedge funds have recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd bought a new stake in UWM in the second quarter valued at $26,000. Captrust Financial Advisors lifted its stake in UWM by 220.9% in the second quarter. Captrust Financial Advisors now owns 9,589 shares of the company’s stock valued at $34,000 after buying an additional 6,601 shares during the last quarter. First Republic Investment Management Inc. bought a new stake in UWM in the second quarter valued at $35,000. Engineers Gate Manager LP bought a new stake in UWM in the fourth quarter valued at $35,000. Finally, Evergreen Capital Management LLC bought a new stake in shares of UWM during the fourth quarter valued at about $36,000. 44.44% of the stock is currently owned by institutional investors.
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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