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

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

Several other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC lifted its holdings in shares of UWM by 485.7% in the 3rd quarter. Barclays PLC now owns 26,022 shares of the company's stock worth $221,000 after acquiring an additional 21,579 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of UWM in the 3rd quarter valued at approximately $239,000. Tidal Investments LLC acquired a new stake in UWM in the third quarter valued at $3,833,000. Wedmont Private Capital raised its position in shares of UWM by 103.1% during the 4th quarter. Wedmont Private Capital now owns 40,857 shares of the company's stock worth $223,000 after acquiring an additional 20,744 shares in the last quarter. Finally, 180 Wealth Advisors LLC grew its position in shares of UWM by 34.6% in the 4th quarter. 180 Wealth Advisors LLC now owns 61,784 shares of the company's stock valued at $363,000 after buying an additional 15,878 shares during the last quarter. 53.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

UWM Stock Performance

UWMC stock traded up $0.01 during trading on Wednesday, reaching $4.08. 8,838,507 shares of the company's stock were exchanged, compared to its average volume of 3,000,135. The company's fifty day moving average price is $5.28 and its 200-day moving average price is $5.86. The firm has a market cap of $6.51 billion, a PE ratio of -17.72 and a beta of 1.75. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.06. UWM Holdings Co. has a 1-year low of $4.04 and a 1-year high of $9.74.

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

UWM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.40 annualized dividend and a yield of 9.82%. UWM's dividend payout ratio is presently 500.00%.

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.