Brokerages Set UWM Holdings Co. (NYSE:UWMC) Price Target at $7.39

Shares of UWM Holdings Co. (NYSE:UWMC) have earned a consensus rating of “Hold” from the seven analysts that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $7.39.

A number of equities analysts recently weighed in on the company. Morgan Stanley decreased their price target on UWM from $7.50 to $6.50 and set an “equal weight” rating for the company in a research report on Thursday, December 19th. Keefe, Bruyette & Woods decreased their target price on shares of UWM from $7.00 to $6.50 and set a “market perform” rating for the company in a report on Friday, January 3rd. The Goldman Sachs Group cut their price target on shares of UWM from $8.50 to $7.50 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Finally, Barclays upgraded shares of UWM from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $6.00 to $8.00 in a research report on Tuesday, October 8th.

UWM Stock Performance

UWMC opened at $6.13 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.06. The firm has a market cap of $9.79 billion, a PE ratio of -26.63 and a beta of 1.66. The business has a fifty day simple moving average of $6.01 and a 200-day simple moving average of $7.31. UWM has a fifty-two week low of $5.31 and a fifty-two week high of $9.74.

UWM Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Thursday, December 19th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.53%. The ex-dividend date was Thursday, December 19th. UWM’s dividend payout ratio (DPR) is currently -173.91%.

Institutional Trading of UWM

Institutional investors have recently bought and sold shares of the company. Xponance Inc. purchased a new stake in shares of UWM during the 2nd quarter worth about $76,000. HB Wealth Management LLC increased its holdings in UWM by 23.0% in the fourth quarter. HB Wealth Management LLC now owns 14,053 shares of the company’s stock worth $82,000 after buying an additional 2,631 shares during the last quarter. Intech Investment Management LLC bought a new position in UWM during the second quarter valued at approximately $85,000. Orion Portfolio Solutions LLC acquired a new stake in UWM in the third quarter valued at approximately $85,000. Finally, Frank Rimerman Advisors LLC bought a new stake in UWM in the second quarter worth approximately $93,000. Institutional investors and hedge funds own 53.59% of the company’s stock.

About UWM

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.