Bank of Nova Scotia boosted its stake in UWM Holdings Co. (NYSE:UWMC - Free Report) by 51.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 621,392 shares of the company's stock after purchasing an additional 209,903 shares during the period. Bank of Nova Scotia's holdings in UWM were worth $3,648,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in UWM by 37.6% during the 4th quarter. Vanguard Group Inc. now owns 11,764,910 shares of the company's stock valued at $69,060,000 after buying an additional 3,212,081 shares during the period. Geode Capital Management LLC increased its holdings in UWM by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,546,818 shares of the company's stock valued at $13,183,000 after purchasing an additional 41,206 shares during the period. KLP Kapitalforvaltning AS bought a new position in UWM during the 4th quarter valued at approximately $121,000. Tidal Investments LLC purchased a new stake in UWM in the 3rd quarter worth approximately $3,833,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of UWM during the fourth quarter valued at approximately $77,000. Hedge funds and other institutional investors own 53.59% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have commented on UWMC shares. UBS Group upgraded shares of UWM from a "sell" rating to a "neutral" rating and decreased their price objective for the stock from $4.75 to $4.50 in a report on Wednesday. Morgan Stanley lowered their target price on UWM from $7.50 to $6.50 and set an "equal weight" rating for the company in a research note on Thursday, December 19th. Keefe, Bruyette & Woods upgraded UWM from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $6.50 to $7.50 in a report on Monday, March 3rd. Finally, Wedbush reaffirmed a "neutral" rating and issued a $6.50 target price on shares of UWM in a research report on Monday, March 3rd. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $7.21.
Check Out Our Latest Stock Report on UWMC
UWM Stock Performance
Shares of NYSE:UWMC traded down $0.04 during trading on Wednesday, hitting $4.55. The company's stock had a trading volume of 3,187,581 shares, compared to its average volume of 2,863,011. The company has a 50-day moving average of $5.82 and a 200-day moving average of $6.18. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.40. The firm has a market cap of $7.27 billion, a price-to-earnings ratio of -19.78 and a beta of 1.64. UWM Holdings Co. has a 12 month low of $4.15 and a 12 month high of $9.74.
UWM (NYSE:UWMC - Get Free Report) last released its earnings results 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 company had revenue of $560.21 million during the quarter, compared to the consensus estimate of $645.75 million. On average, sell-side analysts expect that UWM Holdings Co. will post 0.2 earnings per share for the current year.
UWM Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Thursday, March 20th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 8.79%. The ex-dividend date was Thursday, March 20th. UWM's dividend payout ratio (DPR) is presently 500.00%.
UWM Company Profile
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Free Report)
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.
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