UWM Holdings Co. (NYSE:UWMC) Receives $5.94 Average Price Target from Analysts

Shares of UWM Holdings Co. (NYSE:UWMC) have been given a consensus recommendation of “Reduce” by the nine research firms that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $5.94.

Several research analysts recently issued reports on the stock. Wedbush reissued a “neutral” rating and issued a $7.00 price target on shares of UWM in a research report on Friday, May 17th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $7.00 price objective (up from $6.00) on shares of UWM in a research note on Friday, May 10th. Finally, Barclays upped their price objective on shares of UWM from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 9th.

Institutional Investors Weigh In On UWM

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of UWM by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 8,842,460 shares of the company’s stock worth $42,886,000 after purchasing an additional 28,071 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of UWM by 4.0% during the 4th quarter. Victory Capital Management Inc. now owns 2,126,166 shares of the company’s stock worth $15,202,000 after acquiring an additional 81,799 shares during the period. Azora Capital LP bought a new stake in shares of UWM during the 4th quarter worth approximately $6,705,000. Bank of New York Mellon Corp lifted its holdings in shares of UWM by 4.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 908,159 shares of the company’s stock worth $6,294,000 after acquiring an additional 37,190 shares during the period. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of UWM by 3.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 287,135 shares of the company’s stock worth $2,085,000 after acquiring an additional 9,555 shares during the period. 53.59% of the stock is owned by institutional investors.

UWM Stock Performance

NYSE:UWMC opened at $8.07 on Friday. UWM has a 12-month low of $4.49 and a 12-month high of $8.34. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $771.31 million, a PE ratio of 269.00 and a beta of 1.64. The firm has a 50-day moving average price of $7.32 and a 200 day moving average price of $6.91.

UWM Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 11th. Shareholders of record on Thursday, June 20th were given a dividend of $0.10 per share. The ex-dividend date was Thursday, June 20th. This represents a $0.40 annualized dividend and a yield of 4.96%. UWM’s dividend payout ratio (DPR) is presently 1,333.33%.

UWM Company Profile

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.