Keefe, Bruyette & Woods Cuts UWM (NYSE:UWMC) Price Target to $6.50

UWM (NYSE:UWMC) had its price objective cut by Keefe, Bruyette & Woods from $7.00 to $6.50 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a market perform rating on the stock.

A number of other analysts have also recently weighed in on UWMC. The Goldman Sachs Group decreased their price target on shares of UWM from $8.50 to $7.50 and set a “neutral” rating for the company in a research report on Thursday, November 14th. UBS Group increased their target price on UWM from $4.50 to $4.75 and gave the company a “sell” rating in a research note on Thursday, September 5th. Barclays raised UWM from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $6.00 to $8.00 in a research report on Tuesday, October 8th. Finally, Morgan Stanley lowered their price objective on shares of UWM from $7.50 to $6.50 and set an “equal weight” rating for the company in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $7.22.

UWM Trading Up 2.3 %

Shares of UWMC stock opened at $5.77 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. UWM has a fifty-two week low of $5.44 and a fifty-two week high of $9.74. The firm’s 50 day moving average price is $6.14 and its two-hundred day moving average price is $7.40. The stock has a market cap of $9.22 billion, a price-to-earnings ratio of -25.09 and a beta of 1.65.

UWM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 19th will be issued a $0.10 dividend. The ex-dividend date is Thursday, December 19th. This represents a $0.40 annualized dividend and a yield of 6.93%. UWM’s dividend payout ratio is presently -173.91%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in UWMC. Wedmont Private Capital lifted its position in shares of UWM by 10.8% during the third quarter. Wedmont Private Capital now owns 20,113 shares of the company’s stock worth $171,000 after purchasing an additional 1,963 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its stake in UWM by 8.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 24,757 shares of the company’s stock valued at $168,000 after buying an additional 1,991 shares in the last quarter. Rhumbline Advisers lifted its holdings in UWM by 3.9% during the 2nd quarter. Rhumbline Advisers now owns 91,964 shares of the company’s stock worth $637,000 after buying an additional 3,426 shares during the last quarter. Integrated Investment Consultants LLC grew its position in shares of UWM by 7.9% in the 3rd quarter. Integrated Investment Consultants LLC now owns 100,688 shares of the company’s stock worth $858,000 after acquiring an additional 7,334 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of UWM by 120.1% in the 3rd quarter. CWM LLC now owns 14,243 shares of the company’s stock valued at $121,000 after acquiring an additional 7,772 shares during the last quarter. 53.59% of the stock is owned by institutional investors and hedge funds.

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.