Bank of New York Mellon Corp reduced its stake in shares of Walker & Dunlop, Inc. (NYSE:WD) by 8.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 361,053 shares of the financial services provider’s stock after selling 33,543 shares during the period. Bank of New York Mellon Corp owned 1.16% of Walker & Dunlop worth $17,149,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in shares of Walker & Dunlop during the 3rd quarter worth approximately $123,000. Macquarie Group Ltd. acquired a new position in Walker & Dunlop in the 3rd quarter valued at $251,000. Advisor Group Inc. raised its holdings in Walker & Dunlop by 41.0% in the 3rd quarter. Advisor Group Inc. now owns 5,517 shares of the financial services provider’s stock valued at $289,000 after acquiring an additional 1,605 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Walker & Dunlop in the 3rd quarter valued at $369,000. Finally, California Public Employees Retirement System raised its holdings in Walker & Dunlop by 37.0% in the 3rd quarter. California Public Employees Retirement System now owns 7,260 shares of the financial services provider’s stock valued at $380,000 after acquiring an additional 1,960 shares during the last quarter. Hedge funds and other institutional investors own 81.16% of the company’s stock.
Shares of Walker & Dunlop stock opened at $53.20 on Friday. Walker & Dunlop, Inc. has a 12 month low of $39.38 and a 12 month high of $56.46. The stock has a market cap of $1,661.95, a price-to-earnings ratio of 8.12 and a beta of 1.00. The company has a current ratio of 9.41, a quick ratio of 9.41 and a debt-to-equity ratio of 1.35.
Walker & Dunlop announced that its Board of Directors has authorized a share repurchase program on Wednesday, February 7th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 7th. Stockholders of record on Friday, February 23rd were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, February 22nd. This represents a $1.00 annualized dividend and a dividend yield of 1.88%. Walker & Dunlop’s dividend payout ratio is presently 15.27%.
In other news, EVP Richard C. Warner sold 1,000 shares of the business’s stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $46.54, for a total transaction of $46,540.00. Following the completion of the sale, the executive vice president now directly owns 76,185 shares of the company’s stock, valued at approximately $3,545,649.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Howard W. Smith III sold 25,000 shares of the business’s stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $50.16, for a total transaction of $1,254,000.00. Following the sale, the president now directly owns 760,550 shares of the company’s stock, valued at $38,149,188. The disclosure for this sale can be found here. Insiders have sold a total of 225,878 shares of company stock valued at $11,122,417 over the last three months. Corporate insiders own 11.70% of the company’s stock.
Several brokerages have weighed in on WD. ValuEngine upgraded Walker & Dunlop from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 8th. Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Walker & Dunlop in a report on Wednesday, February 7th. TheStreet upgraded Walker & Dunlop from a “c+” rating to a “b” rating in a report on Tuesday, March 13th. Finally, Zacks Investment Research upgraded Walker & Dunlop from a “sell” rating to a “hold” rating in a report on Wednesday, December 20th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $55.50.
Walker & Dunlop Company Profile
Walker & Dunlop, Inc is a holding company, which conducts its operations through Walker & Dunlop, LLC. The Company provides commercial real estate financial products and services primarily to developers and owners of multifamily properties. The Company originates, sells and services a range of multifamily and other commercial real estate financing products, including Multifamily Finance, Federal Housing Administration (FHA) Finance, Capital Markets, and Proprietary Capital.
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