Jacobs Asset Management LLC Takes $1.13 Million Position in UWM Holdings Corporation $UWMC

Jacobs Asset Management LLC bought a new stake in UWM Holdings Corporation (NYSE:UWMC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 259,000 shares of the company’s stock, valued at approximately $1,134,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of UWM by 9.7% in the fourth quarter. Vanguard Group Inc. now owns 18,959,442 shares of the company’s stock valued at $83,042,000 after acquiring an additional 1,676,754 shares in the last quarter. Brandes Investment Partners LP purchased a new position in shares of UWM in the fourth quarter valued at approximately $45,867,000. Balyasny Asset Management L.P. lifted its position in shares of UWM by 116.6% in the second quarter. Balyasny Asset Management L.P. now owns 5,991,072 shares of the company’s stock valued at $24,803,000 after acquiring an additional 3,224,806 shares in the last quarter. Integrated Investment Consultants LLC purchased a new position in shares of UWM in the third quarter valued at approximately $32,630,000. Finally, Bank of America Corp DE lifted its position in shares of UWM by 40.5% in the third quarter. Bank of America Corp DE now owns 5,279,523 shares of the company’s stock valued at $32,152,000 after acquiring an additional 1,520,923 shares in the last quarter. Hedge funds and other institutional investors own 53.59% of the company’s stock.

UWM Price Performance

NYSE:UWMC opened at $2.38 on Friday. UWM Holdings Corporation has a 52 week low of $2.28 and a 52 week high of $7.14. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 3.13. The company has a market capitalization of $3.80 billion, a P/E ratio of 8.80 and a beta of 1.72. The stock’s fifty day moving average is $3.29 and its two-hundred day moving average is $4.27.

UWM (NYSE:UWMC) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.03. The firm had revenue of $901.43 million for the quarter, compared to the consensus estimate of $709.85 million. UWM had a return on equity of 19.01% and a net margin of 1.92%. Equities analysts expect that UWM Holdings Corporation will post 0.38 EPS for the current year.

UWM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Thursday, June 18th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 16.8%. The ex-dividend date is Thursday, June 18th. UWM’s payout ratio is currently 148.15%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on UWMC shares. Morgan Stanley set a $5.00 target price on UWM in a research report on Thursday, May 7th. Zacks Research raised UWM from a “strong sell” rating to a “hold” rating in a research note on Monday, March 30th. Barclays lowered their price objective on UWM from $6.00 to $5.00 and set an “overweight” rating on the stock in a research note on Monday, April 6th. BTIG Research reissued a “buy” rating and set a $10.00 price objective on shares of UWM in a research note on Tuesday, March 10th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $5.50 price objective on shares of UWM in a research note on Thursday, May 7th. Three analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.79.

Insider Activity

In related news, CEO Ishbia Mat sold 1,003,333 shares of the business’s stock in a transaction on Friday, May 8th. The stock was 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 SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 24,942,634 shares of company stock valued at $91,607,854. 80.30% of the stock is currently owned by insiders.

About UWM

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.