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

UWM (NYSE:UWMC) had its price target reduced by Keefe, Bruyette & Woods from $7.50 to $6.50 in a report published on Wednesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

Other research analysts have also recently issued research reports about the stock. Wedbush reiterated a “neutral” rating and issued a $6.50 price target on shares of UWM in a report on Monday, March 3rd. UBS Group upgraded UWM from a “sell” rating to a “neutral” rating and lowered their target price for the stock from $4.75 to $4.50 in a report on Wednesday, April 16th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.86.

UWM Stock Performance

Shares of UWM stock opened at $4.23 on Wednesday. UWM has a 12 month low of $4.04 and a 12 month high of $9.74. 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 company has a market capitalization of $6.76 billion, a PE ratio of -18.39 and a beta of 1.75. The stock’s fifty day simple moving average is $5.14 and its 200 day simple moving average is $5.81.

UWM (NYSE:UWMC) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.29). The firm had revenue of $613.37 million during the quarter, compared to analyst estimates of $558.80 million. On average, research analysts predict 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, July 10th. Shareholders of record on Wednesday, June 18th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.40 dividend on an annualized basis and a yield of 9.46%. UWM’s dividend payout ratio is 500.00%.

Institutional Investors Weigh In On UWM

A number of institutional investors and hedge funds have recently modified their holdings of the company. First Trust Advisors LP increased its position in UWM by 886.9% during the fourth quarter. First Trust Advisors LP now owns 3,727,477 shares of the company’s stock worth $21,880,000 after buying an additional 3,349,779 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of UWM by 37.6% during the 4th quarter. Vanguard Group Inc. now owns 11,764,910 shares of the company’s stock worth $69,060,000 after acquiring an additional 3,212,081 shares during the last quarter. Basswood Capital Management L.L.C. acquired a new position in shares of UWM during the 4th quarter worth approximately $6,602,000. EMG Holdings L.P. bought a new stake in UWM in the 4th quarter valued at $2,597,000. Finally, Trexquant Investment LP acquired a new stake in UWM during the 4th quarter valued at $2,450,000. 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.