Wedbush Raises Walker & Dunlop (NYSE:WD) Price Target to $110.00

Walker & Dunlop (NYSE:WD) had its target price upped by Wedbush from $105.00 to $110.00 in a research note released on Wednesday morning, Benzinga reports. Wedbush currently has a neutral rating on the financial services provider’s stock. Wedbush also issued estimates for Walker & Dunlop’s FY2024 earnings at $5.48 EPS and FY2025 earnings at $3.75 EPS.

Several other research firms have also issued reports on WD. StockNews.com upgraded shares of Walker & Dunlop from a sell rating to a hold rating in a report on Sunday, August 11th. Keefe, Bruyette & Woods lifted their target price on shares of Walker & Dunlop from $105.00 to $112.00 and gave the stock a market perform rating in a research note on Thursday, July 25th. Finally, Wolfe Research raised shares of Walker & Dunlop to a strong-buy rating in a research report on Tuesday.

Walker & Dunlop Stock Down 1.4 %

Shares of Walker & Dunlop stock opened at $112.06 on Wednesday. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of 40.90 and a beta of 1.55. Walker & Dunlop has a twelve month low of $62.51 and a twelve month high of $116.26. The company’s fifty day moving average is $105.82 and its 200 day moving average is $99.11.

Walker & Dunlop (NYSE:WD) last issued its quarterly earnings results on Thursday, August 8th. The financial services provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.07. Walker & Dunlop had a return on equity of 9.65% and a net margin of 8.41%. The company had revenue of $270.70 million during the quarter, compared to analysts’ expectations of $274.50 million. During the same quarter in the prior year, the firm posted $0.98 earnings per share. The business’s quarterly revenue was down .7% on a year-over-year basis. As a group, equities analysts anticipate that Walker & Dunlop will post 5.27 earnings per share for the current fiscal year.

Walker & Dunlop Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date was Thursday, August 22nd. Walker & Dunlop’s payout ratio is 94.89%.

Insider Activity

In related news, COO Stephen P. Theobald sold 13,870 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $106.10, for a total transaction of $1,471,607.00. Following the transaction, the chief operating officer now directly owns 53,869 shares of the company’s stock, valued at $5,715,500.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 5.47% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Walker & Dunlop

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can raised its stake in Walker & Dunlop by 2.6% during the 2nd quarter. Bank of Montreal Can now owns 4,398 shares of the financial services provider’s stock worth $432,000 after buying an additional 110 shares during the period. Insight Folios Inc lifted its holdings in shares of Walker & Dunlop by 2.5% in the 1st quarter. Insight Folios Inc now owns 7,043 shares of the financial services provider’s stock worth $712,000 after purchasing an additional 171 shares in the last quarter. Hsbc Holdings PLC grew its position in Walker & Dunlop by 3.7% in the 2nd quarter. Hsbc Holdings PLC now owns 4,851 shares of the financial services provider’s stock valued at $473,000 after purchasing an additional 172 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in Walker & Dunlop by 44.5% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 575 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 177 shares in the last quarter. Finally, National Bank of Canada FI raised its holdings in Walker & Dunlop by 205.6% during the second quarter. National Bank of Canada FI now owns 275 shares of the financial services provider’s stock worth $26,000 after buying an additional 185 shares during the last quarter. Institutional investors own 80.97% of the company’s stock.

Walker & Dunlop Company Profile

Walker & Dunlop, Inc, through its subsidiaries, originates, sells, and services a range of multifamily and other commercial real estate financing products and services for owners and developers of real estate in the United States. It operates through three segments: Capital Markets, Servicing & Asset Management, and Corporate.