Keefe, Bruyette & Woods Cuts UWM (NYSE:UWMC) Price Target to $4.50

UWM (NYSE:UWMC) had its price objective cut by Keefe, Bruyette & Woods from $5.00 to $4.50 in a research report report published on Friday morning,Benzinga reports. They currently have a market perform rating on the stock.

A number of other research firms have also issued reports on UWMC. Stephens assumed coverage on shares of UWM in a report on Friday, April 24th. They set an “equal weight” rating and a $4.00 price target on the stock. BTIG Research restated a “buy” rating and set a $10.00 price target on shares of UWM in a report on Tuesday, March 10th. Morgan Stanley set a $5.00 price target on shares of UWM in a report on Thursday. Argus upgraded shares of UWM to a “hold” rating in a report on Tuesday, March 31st. Finally, Jefferies Financial Group set a $4.40 price target on shares of UWM in a report on Wednesday, February 25th. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $5.79.

UWM Stock Up 0.1%

NYSE UWMC opened at $3.39 on Friday. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.52 and a quick ratio of 1.52. The company’s 50 day simple moving average is $3.77 and its 200 day simple moving average is $4.73. UWM has a 12 month low of $3.27 and a 12 month high of $7.14. The company has a market capitalization of $5.42 billion, a P/E ratio of 12.54 and a beta of 1.78.

UWM (NYSE:UWMC) last released its earnings results on Wednesday, May 6th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. UWM had a net margin of 1.92% and a return on equity of 18.89%. The business had revenue of $901.43 million for the quarter, compared to the consensus estimate of $709.85 million. Equities research analysts expect that UWM will post 0.38 earnings per share for the current fiscal year.

UWM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 11.8%. The ex-dividend date of this dividend is Thursday, June 18th. UWM’s payout ratio is currently 148.15%.

Insider Buying and Selling

In other UWM news, CEO Ishbia Mat sold 1,003,333 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $3.39, for a total value of $3,401,298.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 31,904,248 shares of company stock valued at $121,694,684 over the last ninety days. Insiders own 80.30% of the company’s stock.

Institutional Trading of UWM

Several large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its position in UWM by 4.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 55,509 shares of the company’s stock worth $243,000 after acquiring an additional 2,329 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of UWM by 4.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 51,423 shares of the company’s stock worth $225,000 after buying an additional 2,407 shares during the period. Allworth Financial LP boosted its holdings in shares of UWM by 62.5% during the 4th quarter. Allworth Financial LP now owns 6,765 shares of the company’s stock worth $30,000 after buying an additional 2,602 shares during the period. Choreo LLC boosted its holdings in shares of UWM by 16.1% during the 4th quarter. Choreo LLC now owns 19,017 shares of the company’s stock worth $84,000 after buying an additional 2,637 shares during the period. Finally, State of Wyoming boosted its holdings in shares of UWM by 24.9% during the 3rd quarter. State of Wyoming now owns 14,552 shares of the company’s stock worth $89,000 after buying an additional 2,902 shares during the period. 53.59% of the stock is owned by institutional investors.

UWM Company Profile

United Wholesale Mortgage (NYSE: UWMC) is a leading mortgage lender in the United States specializing in the wholesale channel. The company partners with independent mortgage brokers, community banks and credit unions to offer a full suite of residential mortgage products. Through its network of third-party originators, United Wholesale Mortgage underwrites, funds and closes loans, allowing its partners to focus on customer acquisition and service.

The company’s product offerings include conventional fixed- and adjustable-rate mortgages, Federal Housing Administration (FHA) loans, Veterans Affairs (VA) loans, U.S.