Barclays Raises UWM (NYSE:UWMC) Price Target to $6.00

UWM (NYSE:UWMC) had its price objective boosted by Barclays from $5.00 to $6.00 in a report issued on Tuesday morning, Benzinga reports. Barclays currently has an underweight rating on the stock.

A number of other analysts also recently weighed in on UWMC. Keefe, Bruyette & Woods reissued a market perform rating and set a $7.00 price target (up previously from $6.00) on shares of UWM in a research report on Friday, May 10th. Wedbush reaffirmed a neutral rating and issued a $7.00 price objective on shares of UWM in a report on Friday, May 17th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $5.94.

UWM Stock Up 5.2 %

UWMC stock opened at $7.46 on Tuesday. UWM has a twelve month low of $4.49 and a twelve month high of $7.78. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $713.03 million, a P/E ratio of 248.67 and a beta of 1.64. The firm has a 50 day simple moving average of $7.16 and a 200-day simple moving average of $6.84.

UWM Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 11th. Stockholders of record on Thursday, June 20th were given a dividend of $0.10 per share. The ex-dividend date was Thursday, June 20th. This represents a $0.40 annualized dividend and a dividend yield of 5.36%. UWM’s dividend payout ratio is currently 1,333.33%.

Hedge Funds Weigh In On UWM

Several institutional investors have recently modified their holdings of the company. Patriot Financial Group Insurance Agency LLC grew its position in shares of UWM by 10.5% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 22,438 shares of the company’s stock worth $160,000 after acquiring an additional 2,140 shares during the last quarter. Quadrant Capital Group LLC grew its position in shares of UWM by 63.1% during the fourth quarter. Quadrant Capital Group LLC now owns 7,633 shares of the company’s stock worth $55,000 after acquiring an additional 2,952 shares during the last quarter. Parallel Advisors LLC grew its position in shares of UWM by 44.3% during the fourth quarter. Parallel Advisors LLC now owns 9,820 shares of the company’s stock worth $70,000 after acquiring an additional 3,014 shares during the last quarter. CWM LLC lifted its holdings in UWM by 96.4% in the second quarter. CWM LLC now owns 6,471 shares of the company’s stock worth $45,000 after purchasing an additional 3,177 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in UWM by 5.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 57,948 shares of the company’s stock worth $421,000 after purchasing an additional 3,207 shares during the period. Institutional investors 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.