Bank of America Corp DE Trims Stake in UWM Holdings Co. (NYSE:UWMC)

Bank of America Corp DE lessened its stake in UWM Holdings Co. (NYSE:UWMC - Free Report) by 54.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 390,154 shares of the company's stock after selling 470,993 shares during the period. Bank of America Corp DE's holdings in UWM were worth $2,290,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC purchased a new stake in UWM in the 4th quarter valued at approximately $77,000. Townsquare Capital LLC purchased a new stake in UWM in the 4th quarter valued at approximately $72,000. Sei Investments Co. purchased a new stake in UWM in the 4th quarter valued at approximately $82,000. KLP Kapitalforvaltning AS purchased a new stake in UWM in the 4th quarter valued at approximately $121,000. Finally, Victory Capital Management Inc. boosted its holdings in UWM by 20.7% in the 4th quarter. Victory Capital Management Inc. now owns 20,330 shares of the company's stock valued at $119,000 after purchasing an additional 3,488 shares in the last quarter. Institutional investors and hedge funds own 53.59% of the company's stock.

UWM Price Performance

Shares of NYSE:UWMC traded up $0.09 during trading on Friday, hitting $4.20. 6,943,277 shares of the stock were exchanged, compared to its average volume of 3,332,713. The company has a fifty day moving average price of $4.45 and a two-hundred day moving average price of $5.52. The company has a market cap of $6.72 billion, a PE ratio of -18.26 and a beta of 1.70. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.06. UWM Holdings Co. has a 12-month low of $3.89 and a 12-month high of $9.74.

UWM (NYSE:UWMC - Get Free Report) last announced its quarterly 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 firm had revenue of $613.37 million during the quarter, compared to analyst estimates of $558.80 million. On average, analysts forecast that UWM Holdings Co. will post 0.2 EPS for the current year.

UWM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 9.52%. The ex-dividend date is Wednesday, June 18th. UWM's payout ratio is currently -307.69%.

Wall Street Analysts Forecast Growth

UWMC has been the topic of a number of analyst reports. UBS Group raised UWM from a "sell" rating to a "neutral" rating and lowered their price objective for the company from $4.75 to $4.50 in a report on Wednesday, April 16th. Keefe, Bruyette & Woods lowered their price objective on UWM from $7.50 to $6.50 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Wedbush reaffirmed a "neutral" rating and issued a $6.50 price objective on shares of UWM in a report on Monday, March 3rd. Finally, The Goldman Sachs Group lowered their price objective on UWM from $7.00 to $6.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $6.86.

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.