UWM (NYSE:UWMC) Given New $4.50 Price Target at Keefe, Bruyette & Woods

UWM (NYSE:UWMC) had its target price reduced by Keefe, Bruyette & Woods from $5.00 to $4.50 in a report published on Friday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

A number of other equities analysts have also recently weighed in on the company. Argus raised UWM to a “hold” rating in a research note on Tuesday, March 31st. Barclays lowered their target price on UWM from $6.00 to $5.00 and set an “overweight” rating on the stock in a research note on Monday, April 6th. Stephens started coverage on UWM in a research note on Friday, April 24th. They set an “equal weight” rating and a $4.00 target price on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $5.50 target price on shares of UWM in a research note on Thursday. Finally, Zacks Research raised UWM from a “strong sell” rating to a “hold” rating in a research note on Monday, March 30th. Three equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $5.79.

UWM Trading Up 0.1%

Shares of UWMC opened at $3.39 on Friday. The business’s 50-day moving average price is $3.77 and its 200 day moving average price is $4.73. The stock has a market capitalization of $5.42 billion, a P/E ratio of 12.54 and a beta of 1.78. UWM has a 1-year low of $3.27 and a 1-year high of $7.14. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 2.64.

UWM (NYSE:UWMC) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The firm had revenue of $901.43 million for the quarter, compared to analysts’ expectations of $709.85 million. UWM had a return on equity of 18.89% and a net margin of 1.92%. Analysts expect that UWM will post 0.4 earnings per share for the current year.

UWM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 11.8%. The ex-dividend date of this dividend is Thursday, June 18th. UWM’s payout ratio is 148.15%.

Insiders Place Their Bets

In other UWM news, CEO Ishbia Mat sold 1,003,333 shares of UWM stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $3.57, for a total transaction of $3,581,898.81. Following the transaction, the chief executive officer owned 2,995,754 shares of the company’s stock, valued at $10,694,841.78. The trade was a 25.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 32,537,122 shares of company stock worth $124,612,233. Insiders own 80.30% of the company’s stock.

Institutional Investors Weigh In On UWM

Several institutional investors have recently made changes to their positions in UWMC. Allworth Financial LP lifted its holdings in shares of UWM by 5,681.9% during the 3rd quarter. Allworth Financial LP now owns 4,163 shares of the company’s stock valued at $25,000 after buying an additional 4,091 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of UWM during the 2nd quarter valued at about $35,000. Farther Finance Advisors LLC lifted its holdings in shares of UWM by 1,410.7% during the 4th quarter. Farther Finance Advisors LLC now owns 8,596 shares of the company’s stock valued at $38,000 after buying an additional 8,027 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of UWM during the 3rd quarter valued at about $38,000. Finally, Fifth Third Bancorp acquired a new stake in shares of UWM during the 1st quarter valued at about $41,000. 53.59% of the stock is currently owned by institutional investors and hedge funds.

UWM Company Profile

United Wholesale Mortgage (NYSE: UWMC) is a leading mortgage lender in the United States specializing in the wholesale channel. The company partners with independent mortgage brokers, community banks and credit unions to offer a full suite of residential mortgage products. Through its network of third-party originators, United Wholesale Mortgage underwrites, funds and closes loans, allowing its partners to focus on customer acquisition and service.

The company’s product offerings include conventional fixed- and adjustable-rate mortgages, Federal Housing Administration (FHA) loans, Veterans Affairs (VA) loans, U.S.