Brokerages Set UWM Holdings Co. (NYSE:UWMC) Price Target at $5.50

Shares of UWM Holdings Co. (NYSE:UWMC) have received a consensus recommendation of “Hold” from the ten research firms that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $5.50.

A number of brokerages have recently weighed in on UWMC. Keefe, Bruyette & Woods raised UWM from an “underperform” rating to a “market perform” rating and set a $6.00 target price on the stock in a research report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of UWM in a report on Wednesday, January 10th. They set a “hold” rating and a $6.00 price objective on the stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of UWMC. Bank of New York Mellon Corp increased its stake in shares of UWM by 1.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 846,758 shares of the company’s stock worth $4,107,000 after purchasing an additional 14,623 shares during the last quarter. Strs Ohio increased its position in UWM by 12.1% in the third quarter. Strs Ohio now owns 166,918 shares of the company’s stock worth $809,000 after buying an additional 17,995 shares during the last quarter. 180 Wealth Advisors LLC raised its stake in shares of UWM by 6.2% in the third quarter. 180 Wealth Advisors LLC now owns 46,515 shares of the company’s stock valued at $226,000 after buying an additional 2,732 shares during the period. Olympiad Research LP purchased a new position in shares of UWM during the 3rd quarter valued at $146,000. Finally, Victory Capital Management Inc. grew its stake in shares of UWM by 18.7% during the 3rd quarter. Victory Capital Management Inc. now owns 2,044,367 shares of the company’s stock worth $9,915,000 after acquiring an additional 322,021 shares during the period. Hedge funds and other institutional investors own 53.59% of the company’s stock.

UWM Stock Up 0.1 %

UWM stock opened at $7.14 on Monday. UWM has a 12-month low of $4.49 and a 12-month high of $7.75. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $677.94 million, a PE ratio of -37.58 and a beta of 1.62. The firm’s fifty day moving average is $6.62 and its 200 day moving average is $6.38.

UWM (NYSE:UWMC) last issued its earnings results on Wednesday, February 28th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.26). UWM had a net margin of 0.79% and a return on equity of 2.45%. The firm had revenue of ($114.58) million during the quarter, compared to analyst estimates of $402.14 million. As a group, sell-side analysts predict that UWM will post 0.3 EPS for the current fiscal year.

UWM Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Wednesday, March 20th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, March 19th. This represents a $0.40 annualized dividend and a dividend yield of 5.60%. UWM’s dividend payout ratio is currently -210.53%.

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.