Keefe, Bruyette & Woods raises its price target on UWM (NYSE:UWMC) to $8.00

UWM (NYSE:UWMC – Free Report) Their price target was upped by Keefe, Bruyette & Woods from $7.00 to $8.00 in a research note on Wednesday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

A number of other analysts also recently weighed in on the stock. Wedbush restated a neutral rating and issued a $7.00 target price on shares of UWM in a report on Friday, May 17th. Barclays raised their price objective on shares of UWM from $5.00 to $6.00 and gave the stock an underweight rating in a research note on Tuesday, July 9th. Finally, BTIG Research raised their price target on shares of UWM from $8.00 to $10.00 and gave the stock a buy rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, UWM currently has a consensus rating of Hold and an average target price of $7.13.

Check out the latest stock report on UWMC

UWM Price Performance

Shares of NYSE:UWMC traded down $0.06 during mid-day trading on Wednesday, reaching $8.41. The stock had a trading volume of 1,163,628 shares, compared to its average volume of 1,621,205. The company’s 50-day moving average price is $7.56 and its 200-day moving average price is $7.05. UWM has a 1 year low of $4.49 and a 1 year high of $8.92. The company has a market cap of $803.81 million, a P/E ratio of 280.33 and a beta of 1.63. The company has a current ratio of 1.58, a quick ratio of 1.58, and a debt-to-equity ratio of 0.90.

UWM (NYSE:UWMC – Get Your Free Report ) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.02). The firm had revenue of $507.09 million during the quarter, compared to analyst estimates of $540.31 million. In the same quarter last year, the company earned $0.11 per share. research analysts expect that UWM will post 0.28 EPS for the current fiscal year.

UWM announces dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, September 19. This represents an annualized dividend of $0.40 and a yield of 4.76%. UWM’s payout ratio is currently 1,333.33%.

UWM Institutional Trading

Institutional investors and hedge funds have recently made changes to their positions in the company. McAdam LLC boosted its holdings in shares of UWM by 16.0% in the second quarter. McAdam LLC now owns 12,721 shares of the company’s stock valued at $88,000 after purchasing an additional 1,758 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of UWM by 63.1% in the fourth quarter. Quadrant Capital Group LLC now owns 7,633 shares of the company’s stock worth $55,000 after purchasing an additional 2,952 shares in the last quarter. Parallel Advisors LLC grew its holdings in UWM by 44.3% in the fourth quarter. Parallel Advisors LLC now owns 9,820 shares of the company’s stock worth $70,000 after buying an additional 3,014 shares during the period. CWM LLC boosted its holdings in shares of UWM by 96.4% during the 2nd quarter. CWM LLC now owns 6,471 shares of the company’s stock valued at $45,000 after acquiring an additional 3,177 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in shares of 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 acquiring an additional 3,207 shares in the last quarter. 53.59% of shares are currently owned by institutional investors.

About UWM

(Get a free report)

UWM Holdings Corporation engages in the residential mortgage lending business in the United States. The company offers mortgage loans through the wholesale channel. It comes primarily from conforming and government loans. UWM Holdings Corporation was founded in 1986 and is headquartered in Pontiac, Michigan.

Read more

Get news and reviews for UWM Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for UWM and related companies with MarketBeat.com ‘s FREE daily email newsletter.