Truist Financial Corp Purchases 3,516 Shares of UWM Holdings Co. (NYSE:UWMC)

Truist Financial Corp increased its position in shares of UWM Holdings Co. (NYSE:UWMCGet Rating) by 13.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,227 shares of the company’s stock after acquiring an additional 3,516 shares during the period. Truist Financial Corp’s holdings in UWM were worth $137,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rafferty Asset Management LLC grew its position in UWM by 7.5% during the 4th quarter. Rafferty Asset Management LLC now owns 47,845 shares of the company’s stock worth $283,000 after acquiring an additional 3,347 shares during the last quarter. WealthPLAN Partners LLC bought a new stake in shares of UWM in the 4th quarter valued at about $52,000. Columbia Asset Management grew its position in shares of UWM by 72.4% in the 4th quarter. Columbia Asset Management now owns 24,000 shares of the company’s stock valued at $142,000 after buying an additional 10,080 shares during the last quarter. Allegheny Financial Group LTD bought a new stake in shares of UWM in the 4th quarter valued at about $30,000. Finally, Bridgefront Capital LLC bought a new stake in shares of UWM in the 4th quarter valued at about $79,000. Institutional investors own 33.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on UWMC shares. Credit Suisse Group reduced their price target on UWM to $3.75 in a research report on Friday, July 22nd. Barclays dropped their price objective on UWM from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Monday, July 11th. JMP Securities reissued a “buy” rating and issued a $5.00 price objective (down from $6.00) on shares of UWM in a research note on Thursday, May 26th. Wedbush downgraded UWM from an “outperform” rating to a “neutral” rating and set a $5.00 price objective on the stock. in a research note on Tuesday, May 17th. Finally, BTIG Research began coverage on UWM in a research note on Wednesday, April 20th. They issued a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $4.73.

UWM Stock Up 4.4 %

UWMC stock opened at $3.77 on Monday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.85 and a current ratio of 1.85. The stock’s 50 day simple moving average is $3.73 and its 200 day simple moving average is $4.13. The company has a market cap of $348.85 million, a P/E ratio of 6.73 and a beta of 0.98. UWM Holdings Co. has a fifty-two week low of $3.14 and a fifty-two week high of $7.94.

UWM (NYSE:UWMCGet Rating) last issued its quarterly earnings data on Tuesday, May 10th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.35. The firm had revenue of $821.79 million during the quarter, compared to analyst estimates of $526.47 million. UWM had a return on equity of 13.31% and a net margin of 2.78%. During the same period in the previous year, the company posted $0.71 EPS. On average, research analysts expect that UWM Holdings Co. will post 0.19 earnings per share for the current fiscal year.

UWM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 11th. Stockholders of record on Tuesday, June 21st were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 10.61%. The ex-dividend date of this dividend was Friday, June 17th. UWM’s dividend payout ratio is presently 71.43%.

About UWM

(Get Rating)

UWM Holdings Corporation engages in the residential mortgage lending business in the United States. The company originates 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.

See Also

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Institutional Ownership by Quarter for UWM (NYSE:UWMC)

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