UWM (NYSE:UWMC) was given a new price target of $8.50 at Wedbush

UWM (NYSE:UWMC – Free Report) Its price objective was lifted by Wedbush from $7.00 to $8.50 in a report released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock. Wedbush also issued estimates for UWM’s Q3 2024 earnings at $0.07 EPS, Q4 2024 earnings at $0.08 EPS, FY2024 earnings at $0.30 EPS and FY2025 earnings at $0.40 EPS.

Other equities research analysts have also issued research reports on the stock. Barclays lifted their price objective on shares of UWM from $5.00 to $6.00 and gave the company an underweight rating in a research note on Tuesday, July 9th. BTIG Research upped their target price on shares of UWM from $8.00 to $10.00 and gave the stock a buy rating in a report on Tuesday. Finally, Keefe, Bruyette & Woods boosted their price objective on UWM from $7.00 to $8.00 and gave the stock a market perform rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. UWM presently has an average rating of Hold and an average price target of $7.13, according to MarketBeat.

Check out our latest analysis on UWMC

UWM stock down 0.7%

UWM stock traded down $0.06 during trading on Wednesday, hitting $8.41. 1,163,628 shares of the company’s stock traded hands, compared to its average volume of 1,621,205. The firm has a market cap of $803.81 million, a price-to-earnings ratio of 280.33 and a beta of 1.63. The company’s 50-day moving average is $7.56, and its two-hundred-day moving average is $7.05. UWM has a 52-week low of $4.49 and a 52-week high of $8.92. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.58, and a current ratio of 1.58.

UWM (NYSE:UWMC – Get Your Free Report ) last announced its quarterly earnings results 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 company 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 posted earnings of $0.11 per share. On average, analysts anticipate that UWM will post 0.28 earnings per share for the current year.

UWM Dividend Announcement

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

Institutional inputs and outputs

Institutional investors have recently added to or reduced their stakes in the company. ORG Partners LLC purchased a new stake in UWM in the 1st quarter worth about $29,000. Atlas Capital Advisors LLC boosted its holdings in UWM by 190.5% in the first quarter. Atlas Capital Advisors LLC now owns 5,046 shares of the company’s stock worth $37,000 after acquiring an additional 3,309 shares during the last quarter. CWM LLC raised its position in shares of UWM by 96.4% in the second quarter. CWM LLC now owns 6,471 shares of the company’s stock valued at $45,000 after purchasing an additional 3,177 shares during the last quarter. International Assets Investment Management LLC bought a new stake in UWM in the second quarter valued at $52,000. Finally, SageView Advisory Group LLC purchased a new stake in UWM in the 1st quarter valued at approximately $55,000. Institutional investors own 53.59% of the company’s shares.

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.

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