Keefe, Bruyette & Woods Upgrades UWM (NYSE:UWMC) to Outperform

Keefe, Bruyette & Woods upgraded shares of UWM (NYSE:UWMC) from a market perform rating to an outperform rating in a research report sent to investors on Monday, Marketbeat.com reports. They currently have $7.50 price target on the stock, up from their previous price target of $6.50.

UWMC has been the subject of several other research reports. The Goldman Sachs Group reduced their target price on shares of UWM from $8.50 to $7.50 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Morgan Stanley reduced their price target 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 analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $7.25.

UWM Stock Up 0.5 %

UWM stock opened at $6.45 on Monday. 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 12-month low of $5.31 and a 12-month high of $9.74. The firm’s fifty day moving average is $6.12 and its 200 day moving average is $6.92. The company has a market capitalization of $10.30 billion, a PE ratio of -28.02 and a beta of 1.66.

UWM (NYSE:UWMC) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). The business had revenue of $560.21 million for the quarter, compared to analysts’ expectations of $645.75 million. As a group, sell-side analysts predict that UWM will post 0.2 EPS for the current fiscal year.

UWM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 20th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $0.40 annualized dividend and a yield of 6.21%. UWM’s payout ratio is currently 500.00%.

Hedge Funds Weigh In On UWM

Several institutional investors have recently added to or reduced their stakes in the stock. Townsquare Capital LLC bought a new position in UWM during the fourth quarter worth about $72,000. Sanctuary Advisors LLC bought a new position in UWM during the fourth quarter worth about $77,000. HB Wealth Management LLC boosted its position in UWM by 23.0% during the fourth quarter. HB Wealth Management LLC now owns 14,053 shares of the company’s stock worth $82,000 after purchasing an additional 2,631 shares during the period. Sei Investments Co. bought a new position in UWM during the fourth quarter worth about $82,000. Finally, Orion Portfolio Solutions LLC bought a new position in UWM during the third quarter worth about $85,000. Institutional investors own 53.59% of the company’s stock.

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.