UWM (NYSE:UWMC) Given New $6.50 Price Target at Keefe, Bruyette & Woods

UWM (NYSE:UWMC - Free Report) had its price target cut by Keefe, Bruyette & Woods from $7.00 to $6.50 in a research report released on Friday,Benzinga reports. They currently have a market perform rating on the stock.

UWMC has been the subject of a number of other reports. Barclays upgraded UWM from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $6.00 to $8.00 in a research report on Tuesday, October 8th. The Goldman Sachs Group dropped their price target on shares of UWM from $8.50 to $7.50 and set a "neutral" rating on the stock in a research report on Thursday, November 14th. Morgan Stanley decreased their price objective 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. Finally, UBS Group boosted their target price on shares of UWM from $4.50 to $4.75 and gave the company a "sell" rating in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $7.22.

UWM Trading Up 2.3 %

NYSE:UWMC traded up $0.13 during trading hours on Friday, hitting $5.77. 4,517,122 shares of the company were exchanged, compared to its average volume of 4,518,011. The stock has a market capitalization of $9.22 billion, a price-to-earnings ratio of -25.09 and a beta of 1.65. UWM has a one year low of $5.44 and a one year high of $9.74. The company has a fifty day simple moving average of $6.16 and a 200 day simple moving average of $7.41. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.06.

UWM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 19th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, December 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.93%. UWM's dividend payout ratio (DPR) is presently -173.91%.

Hedge Funds Weigh In On UWM

Large investors have recently modified their holdings of the company. Squarepoint Ops LLC raised its holdings in shares of UWM by 24.5% in the second quarter. Squarepoint Ops LLC now owns 342,322 shares of the company's stock valued at $2,372,000 after purchasing an additional 67,383 shares during the last quarter. Renaissance Technologies LLC increased its stake in UWM by 13.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company's stock valued at $11,870,000 after buying an additional 199,900 shares during the last quarter. Inspire Investing LLC lifted its position in shares of UWM by 366.1% during the 3rd quarter. Inspire Investing LLC now owns 179,298 shares of the company's stock worth $1,528,000 after buying an additional 140,830 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of UWM by 56.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 415,656 shares of the company's stock worth $3,541,000 after buying an additional 149,216 shares during the last quarter. Finally, Carrera Capital Advisors bought a new position in shares of UWM in the third quarter valued at approximately $1,727,000. 53.59% of the stock is currently owned by institutional investors.

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.