Basswood Capital Management L.L.C. Buys Shares of 1,124,694 UWM Holdings Co. (NYSE:UWMC)

Basswood Capital Management L.L.C. bought a new stake in shares of UWM Holdings Co. (NYSE:UWMC - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 1,124,694 shares of the company's stock, valued at approximately $6,602,000. Basswood Capital Management L.L.C. owned about 0.07% of UWM at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Townsquare Capital LLC bought a new stake in UWM during the fourth quarter valued at $72,000. Sanctuary Advisors LLC bought a new stake in shares of UWM during the 4th quarter valued at about $77,000. HB Wealth Management LLC raised its stake in UWM by 23.0% during the fourth quarter. HB Wealth Management LLC now owns 14,053 shares of the company's stock worth $82,000 after acquiring an additional 2,631 shares during the period. Sei Investments Co. acquired a new position in UWM in the fourth quarter valued at approximately $82,000. Finally, Secure Asset Management LLC bought a new position in shares of UWM during the fourth quarter valued at approximately $119,000. Institutional investors and hedge funds own 53.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods reduced their target price on shares of UWM from $7.50 to $6.50 and set an "outperform" rating for the company in a research note on Wednesday. The Goldman Sachs Group cut their target price on UWM from $7.00 to $6.00 and set a "neutral" rating for the company in a research report on Wednesday. Wedbush reissued a "neutral" rating and issued a $6.50 price objective on shares of UWM in a research note on Monday, March 3rd. Finally, UBS Group raised UWM from a "sell" rating to a "neutral" rating and lowered their target price for the stock from $4.75 to $4.50 in a report on Wednesday, April 16th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, UWM currently has an average rating of "Hold" and an average target price of $6.86.

UWM Price Performance

Shares of UWMC traded up $0.06 during trading hours on Friday, hitting $4.27. The stock had a trading volume of 1,745,537 shares, compared to its average volume of 3,012,963. The stock has a market capitalization of $6.82 billion, a price-to-earnings ratio of -18.57 and a beta of 1.75. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.40. UWM Holdings Co. has a 52 week low of $4.04 and a 52 week high of $9.74. The company's fifty day moving average is $5.18 and its two-hundred day moving average is $5.83.

UWM (NYSE:UWMC - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.29). The company had revenue of $613.37 million during the quarter, compared to analyst estimates of $558.80 million. On average, analysts anticipate that UWM Holdings Co. will post 0.2 EPS for the current year.

UWM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be issued a $0.10 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $0.40 annualized dividend and a yield of 9.37%. UWM's dividend payout ratio is currently 500.00%.

About UWM

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.