UWM (NYSE:UWMC) Price Target Lowered to $4.00 at Credit Suisse Group

UWM (NYSE:UWMCGet Rating) had its price target trimmed by Credit Suisse Group to $4.00 in a research note released on Thursday morning, Stock Target Advisor reports. The firm currently has a neutral rating on the stock.

A number of other research firms also recently weighed in on UWMC. Piper Sandler downgraded UWM from a neutral rating to an underweight rating and decreased their price objective for the company from $5.00 to $3.00 in a report on Thursday. UBS Group cut shares of UWM from a buy rating to a neutral rating and set a $5.00 price target on the stock. in a research report on Wednesday, February 23rd. BTIG Research assumed coverage on shares of UWM in a research report on Wednesday, April 20th. They set a neutral rating on the stock. The Goldman Sachs Group cut their price target on shares of UWM from $5.25 to $4.60 and set a neutral rating on the stock in a research report on Monday, April 4th. Finally, Barclays cut their price target on shares of UWM from $7.00 to $5.00 and set an equal weight rating on the stock in a research report on Thursday, March 3rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, UWM has an average rating of Hold and an average price target of $6.12.

NYSE UWMC opened at $3.96 on Thursday. The company has a market capitalization of $366.43 million, a price-to-earnings ratio of 7.07 and a beta of 1.05. UWM has a twelve month low of $3.38 and a twelve month high of $10.98. The stock has a fifty day simple moving average of $4.05 and a 200 day simple moving average of $5.12. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.64.

UWM (NYSE:UWMCGet Rating) last posted its quarterly earnings data on Tuesday, May 10th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.14. UWM had a return on equity of 13.31% and a net margin of 2.78%. During the same period in the prior year, the business earned $0.71 earnings per share. Research analysts expect that UWM will post 0.15 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 11th. Stockholders of record on Tuesday, June 21st will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, June 17th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 10.10%. UWM’s dividend payout ratio (DPR) is presently 71.43%.

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of UWM by 59.0% in the 3rd quarter. BlackRock Inc. now owns 3,167,267 shares of the company’s stock worth $22,013,000 after acquiring an additional 1,175,617 shares during the last quarter. Credit Suisse AG raised its holdings in shares of UWM by 9.6% in the 3rd quarter. Credit Suisse AG now owns 65,577 shares of the company’s stock worth $456,000 after acquiring an additional 5,725 shares during the last quarter. WealthPLAN Partners LLC acquired a new stake in shares of UWM in the 4th quarter worth about $52,000. Teacher Retirement System of Texas raised its holdings in shares of UWM by 28.5% in the 3rd quarter. Teacher Retirement System of Texas now owns 14,959 shares of the company’s stock worth $104,000 after acquiring an additional 3,320 shares during the last quarter. Finally, Point72 Hong Kong Ltd raised its holdings in shares of UWM by 47.0% in the 3rd quarter. Point72 Hong Kong Ltd now owns 25,893 shares of the company’s stock worth $180,000 after acquiring an additional 8,277 shares during the last quarter. 33.06% of the stock is currently owned by institutional investors.

About UWM (Get Rating)

UWM Holdings Corporation engages in the residential mortgage lending business in the United States. The company originates 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.

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