UWM Holdings Co. (NYSE:UWMC) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its position in shares of UWM Holdings Co. (NYSE:UWMC) by 15.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,087,978 shares of the company’s stock after buying an additional 147,459 shares during the quarter. Bank of New York Mellon Corp’s holdings in UWM were worth $6,386,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC increased its stake in shares of UWM by 24.5% during the 3rd quarter. FMR LLC now owns 10,218,728 shares of the company’s stock valued at $87,064,000 after acquiring an additional 2,010,985 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC acquired a new stake in UWM in the third quarter valued at approximately $21,797,000. State Street Corp grew its position in UWM by 5.0% in the third quarter. State Street Corp now owns 1,592,084 shares of the company’s stock valued at $13,723,000 after acquiring an additional 76,221 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of UWM by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,546,818 shares of the company’s stock valued at $13,183,000 after buying an additional 41,206 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of UWM by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 574,290 shares of the company’s stock valued at $4,893,000 after buying an additional 7,846 shares during the last quarter. Institutional investors and hedge funds own 53.59% of the company’s stock.

UWM Trading Up 2.7 %

Shares of NYSE UWMC opened at $5.94 on Monday. UWM Holdings Co. has a one year low of $5.31 and a one year high of $9.74. The firm has a market capitalization of $9.49 billion, a PE ratio of -25.80 and a beta of 1.64. 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 business has a 50-day moving average price of $6.15 and a two-hundred day moving average price of $6.74.

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 firm had revenue of $560.21 million during the quarter, compared to analyst estimates of $645.75 million. As a group, analysts predict that UWM Holdings Co. will post 0.2 earnings per share for the current fiscal year.

UWM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors 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 6.74%. The ex-dividend date is Thursday, March 20th. UWM’s payout ratio is 500.00%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on UWMC shares. Keefe, Bruyette & Woods upgraded UWM from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $6.50 to $7.50 in a research note on Monday, March 3rd. Morgan Stanley lowered their price target on UWM from $7.50 to $6.50 and set an “equal weight” rating on the stock in a report on Thursday, December 19th. Finally, Wedbush reaffirmed a “neutral” rating and set a $6.50 target price on shares of UWM in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, UWM currently has an average rating of “Hold” and a consensus price target of $7.25.

UWM 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.