Wedbush Reaffirms Neutral Rating for UWM (NYSE:UWMC)

Wedbush restated their neutral rating on shares of UWM (NYSE:UWMC) in a research report released on Monday,Benzinga reports. Wedbush currently has a $6.50 price objective on the stock.

UWMC has been the subject of a number of other research reports. The Goldman Sachs Group reduced their price target on UWM from $8.50 to $7.50 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Morgan Stanley reduced their target price on shares of UWM from $7.50 to $6.50 and set an “equal weight” rating for the company in a report on Thursday, December 19th. Finally, Keefe, Bruyette & Woods upgraded shares of UWM from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $6.50 to $7.50 in a report on Monday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $7.25.

UWM Trading Up 4.8 %

UWMC opened at $6.58 on Monday. UWM has a twelve month low of $5.31 and a twelve month high of $9.74. The firm has a market cap of $10.52 billion, a PE ratio of -28.61 and a beta of 1.66. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.40 and a current ratio of 1.40. The firm’s fifty day moving average is $6.09 and its two-hundred day moving average is $6.94.

UWM (NYSE:UWMC) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $645.75 million. Equities research analysts anticipate that UWM will post 0.2 EPS for the current year.

UWM Announces Dividend

The business also recently declared 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. The ex-dividend date is Thursday, March 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.08%. UWM’s payout ratio is currently 500.00%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Townsquare Capital LLC bought a new position in UWM during the 4th quarter worth $72,000. Sanctuary Advisors LLC bought a new position in UWM during the fourth quarter worth $77,000. HB Wealth Management LLC increased its stake in shares of UWM by 23.0% in the 4th quarter. HB Wealth Management LLC now owns 14,053 shares of the company’s stock valued at $82,000 after acquiring an additional 2,631 shares in the last quarter. Sei Investments Co. bought a new stake in UWM in the 4th quarter worth about $82,000. Finally, Orion Portfolio Solutions LLC bought a new stake in UWM in the 3rd quarter worth about $85,000. 53.59% 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 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.