UWM (NYSE:UWMC) Trading Down 3%

UWM Holdings Co. (NYSE:UWMC)’s share price dropped 3% during mid-day trading on Tuesday . The stock traded as low as $7.20 and last traded at $7.21. Approximately 563,993 shares were traded during trading, a decline of 58% from the average daily volume of 1,347,626 shares. The stock had previously closed at $7.43.

Analysts Set New Price Targets

UWMC has been the topic of several research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of UWM in a report on Wednesday, January 10th. They set a “hold” rating and a $6.00 price target on the stock. UBS Group reaffirmed a “sell” rating and set a $4.00 price target on shares of UWM in a report on Wednesday, December 6th. Finally, Keefe, Bruyette & Woods lowered shares of UWM from a “market perform” rating to an “underperform” rating and set a $6.00 target price on the stock. in a report on Wednesday, January 10th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $5.59.

UWM Stock Up 0.6 %

The stock has a market cap of $685.66 million, a price-to-earnings ratio of -37.95 and a beta of 1.58. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 1.12. The stock’s 50-day moving average price is $6.78 and its 200-day moving average price is $6.08.

UWM (NYSE:UWMC) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.26). The firm had revenue of ($114.58) million during the quarter, compared to analyst estimates of $402.14 million. UWM had a return on equity of 2.45% and a net margin of 0.79%. On average, sell-side analysts expect that UWM Holdings Co. will post 0.29 earnings per share for the current year.

UWM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Investors of record on Wednesday, March 20th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, March 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.51%. UWM’s payout ratio is presently -210.53%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Nuveen Asset Management LLC lifted its position in shares of UWM by 0.7% during the 4th quarter. Nuveen Asset Management LLC now owns 221,204 shares of the company’s stock valued at $1,582,000 after acquiring an additional 1,584 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of UWM by 0.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 496,610 shares of the company’s stock worth $2,781,000 after acquiring an additional 1,684 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its stake in shares of UWM by 10.5% in the 4th 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 in the last quarter. Royal Bank of Canada grew its stake in shares of UWM by 18.1% in the 4th quarter. Royal Bank of Canada now owns 14,820 shares of the company’s stock worth $107,000 after acquiring an additional 2,266 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of UWM by 4.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 54,741 shares of the company’s stock worth $392,000 after acquiring an additional 2,344 shares in the last quarter. 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.