UWM (NYSE:UWMC) Upgraded at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of UWM (NYSE:UWMC) from a market perform rating to an outperform rating in a research note released on Monday, MarketBeat Ratings reports. They currently have $7.50 price target on the stock, up from their prior price target of $6.50.

UWMC has been the topic of several other reports. Morgan Stanley decreased their price target on shares of UWM from $7.50 to $6.50 and set an “equal weight” rating on the stock in a report on Thursday, December 19th. The Goldman Sachs Group reduced their target price on shares of UWM from $8.50 to $7.50 and set a “neutral” rating on the stock in a report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $7.25.

UWM Trading Up 0.5 %

Shares of UWM stock opened at $6.45 on Monday. The firm has a market capitalization of $10.30 billion, a PE ratio of -28.02 and a beta of 1.66. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.06. The firm’s 50 day moving average is $6.12 and its 200 day moving average is $6.92. UWM has a 1 year low of $5.31 and a 1 year high of $9.74.

UWM (NYSE:UWMC) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). The company had revenue of $560.21 million for the quarter, compared to the consensus estimate of $645.75 million. Equities research analysts forecast that UWM will post 0.2 earnings per share for the current fiscal year.

UWM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, March 20th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.21%. The ex-dividend date of this dividend is Thursday, March 20th. UWM’s dividend payout ratio is currently 500.00%.

Institutional Investors Weigh In On UWM

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of UWM by 37.6% in the 4th quarter. Vanguard Group Inc. now owns 11,764,910 shares of the company’s stock valued at $69,060,000 after purchasing an additional 3,212,081 shares during the last quarter. FMR LLC boosted its stake in shares of UWM by 24.5% in the 3rd quarter. FMR LLC now owns 10,218,728 shares of the company’s stock valued at $87,064,000 after purchasing an additional 2,010,985 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of UWM by 886.9% in the 4th quarter. First Trust Advisors LP now owns 3,727,477 shares of the company’s stock valued at $21,880,000 after purchasing an additional 3,349,779 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC bought a new stake in shares of UWM in the 3rd quarter valued at $21,797,000. Finally, State Street Corp boosted its stake in shares of UWM by 5.0% in the 3rd quarter. State Street Corp now owns 1,592,084 shares of the company’s stock valued at $13,723,000 after purchasing an additional 76,221 shares during the last quarter. 53.59% of the stock is owned by institutional investors.

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.