Keefe, Bruyette & Woods Issues Pessimistic Forecast for UWM (NYSE:UWMC) Stock Price

UWM (NYSE:UWMC) had its target price reduced by Keefe, Bruyette & Woods from $7.00 to $6.50 in a report published on Friday,Benzinga reports. They currently have a market perform rating on the stock.

Several other research analysts have also commented on the company. Barclays upgraded UWM from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $6.00 to $8.00 in a research report on Tuesday, October 8th. UBS Group upped their target price on UWM from $4.50 to $4.75 and gave the company a “sell” rating in a report on Thursday, September 5th. The Goldman Sachs Group cut their price target on UWM from $8.50 to $7.50 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Finally, Morgan Stanley lowered their price target on shares of UWM from $7.50 to $6.50 and set an “equal weight” rating for the company in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $7.22.

UWM Stock Performance

UWM stock opened at $5.77 on Friday. The stock has a market cap of $9.22 billion, a P/E ratio of -25.09 and a beta of 1.65. The stock has a 50 day moving average of $6.14 and a 200-day moving average of $7.40. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.06. UWM has a 52 week low of $5.44 and a 52 week high of $9.74.

UWM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 19th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 6.93%. The ex-dividend date of this dividend is Thursday, December 19th. UWM’s dividend payout ratio (DPR) is presently -173.91%.

Hedge Funds Weigh In On UWM

Several large investors have recently made changes to their positions in the business. FMR LLC increased its position in shares of UWM by 24.5% in the third quarter. FMR LLC now owns 10,218,728 shares of the company’s stock worth $87,064,000 after acquiring an additional 2,010,985 shares in the last quarter. Philadelphia Financial Management of San Francisco LLC purchased a new position in UWM during the 3rd quarter worth approximately $21,797,000. Renaissance Technologies LLC grew its position in UWM by 13.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company’s stock worth $11,870,000 after purchasing an additional 199,900 shares in the last quarter. State Street Corp raised its stake in UWM by 5.0% during 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 period. Finally, Geode Capital Management LLC lifted its holdings in shares of UWM by 2.7% in the third quarter. Geode Capital Management LLC now owns 1,546,818 shares of the company’s stock valued at $13,183,000 after purchasing an additional 41,206 shares in the last quarter. Institutional investors own 53.59% of the company’s stock.

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.