Analysts Set UWM Holdings Corporation (NYSE:UWMC) Target Price at $4.89

UWM Holdings Corporation (NYSE:UWMC) has been given a consensus recommendation of “Hold” by the twelve brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $4.8150.

UWMC has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $5.50 price target on shares of UWM in a research note on Thursday, May 7th. BTIG Research reaffirmed a “buy” rating and issued a $4.00 target price on shares of UWM in a report on Wednesday, June 24th. Weiss Ratings downgraded shares of UWM from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, June 15th. Keefe, Bruyette & Woods upgraded shares of UWM from a “market perform” rating to an “outperform” rating and cut their price target for the company from $4.50 to $3.75 in a report on Thursday, June 25th. Finally, Zacks Research raised shares of UWM from a “strong sell” rating to a “hold” rating in a research report on Monday, March 30th.

UWM Stock Up 0.8%

Shares of NYSE:UWMC opened at $1.91 on Wednesday. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 3.13. The stock has a fifty day simple moving average of $2.46 and a two-hundred day simple moving average of $3.67. UWM has a 12-month low of $1.84 and a 12-month high of $7.14. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of 7.06 and a beta of 1.76.

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 return on equity of 19.01% and a net margin of 1.92%.The firm had revenue of $901.43 million for the quarter, compared to analysts’ expectations of $709.85 million. On average, research analysts anticipate that UWM will post 0.36 earnings per share for the current fiscal year.

UWM Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 21.0%. The ex-dividend date was Thursday, June 18th. UWM’s dividend payout ratio (DPR) is currently 148.15%.

Insider Buying and Selling

In other UWM news, CEO Ishbia Mat sold 1,003,333 shares of UWM 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 8,933,450 shares of company stock worth $32,223,787. Company insiders own 80.30% of the company’s stock.

Institutional Investors Weigh In On UWM

Several institutional investors have recently modified their holdings of UWMC. Allworth Financial LP raised its position in UWM by 5,681.9% in the 3rd quarter. Allworth Financial LP now owns 4,163 shares of the company’s stock worth $25,000 after buying an additional 4,091 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of UWM during the 2nd quarter valued at about $35,000. Farther Finance Advisors LLC boosted its holdings in shares of UWM by 1,410.7% during the 4th quarter. Farther Finance Advisors LLC now owns 8,596 shares of the company’s stock valued at $38,000 after acquiring an additional 8,027 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of UWM in the third quarter worth approximately $38,000. Finally, Fifth Third Bancorp purchased a new position in shares of UWM during the first quarter valued at approximately $41,000. 53.59% of the stock is owned by hedge funds and other institutional investors.

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.