Wedbush Initiates Coverage on Walker & Dunlop Inc. (WD)
Equities researchers at Wedbush assumed coverage on shares of Walker & Dunlop Inc. (NYSE:WD) in a research note issued to investors on Wednesday. The brokerage set a “neutral” rating and a $26.75 price target on the stock. Wedbush’s price objective points to a potential upside of 8.26% from the company’s previous close.
Other equities analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Walker & Dunlop from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research note on Friday, June 10th. JMP Securities upped their price target on shares of Walker & Dunlop from $27.00 to $30.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 4th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Walker & Dunlop from $23.00 to $26.00 and gave the stock a “market perform” rating in a research note on Thursday, August 4th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $29.15.
Shares of Walker & Dunlop (NYSE:WD) opened at 24.71 on Wednesday. The company’s 50-day moving average is $25.95 and its 200 day moving average is $24.40. Walker & Dunlop has a 52-week low of $19.50 and a 52-week high of $33.17. The firm has a market capitalization of $761.34 million, a PE ratio of 8.58 and a beta of 1.05.
Walker & Dunlop (NYSE:WD) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.36. The company had revenue of $147.90 million for the quarter, compared to analysts’ expectations of $114.53 million. Walker & Dunlop had a net margin of 18.20% and a return on equity of 17.60%. Walker & Dunlop’s revenue was up 29.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.67 EPS. Equities analysts expect that Walker & Dunlop will post $2.90 earnings per share for the current fiscal year.
In other Walker & Dunlop news, CEO William M. Walker sold 53,170 shares of the company’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $26.71, for a total value of $1,420,170.70. Following the transaction, the chief executive officer now directly owns 1,493,462 shares in the company, valued at approximately $39,890,370.02. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Dana L. Schmaltz bought 1,500 shares of Walker & Dunlop stock in a transaction on Friday, August 19th. The stock was purchased at an average price of $26.17 per share, for a total transaction of $39,255.00. Following the completion of the acquisition, the director now owns 40,333 shares in the company, valued at approximately $1,055,514.61. The disclosure for this purchase can be found here. 11.60% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Fund Advisors raised its position in Walker & Dunlop by 4.4% in the second quarter. BlackRock Fund Advisors now owns 1,779,927 shares of the company’s stock worth $40,547,000 after buying an additional 75,127 shares during the period. Dimensional Fund Advisors LP raised its position in Walker & Dunlop by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,672,101 shares of the company’s stock worth $38,091,000 after buying an additional 65,480 shares during the period. Boston Partners raised its position in Walker & Dunlop by 1.2% in the second quarter. Boston Partners now owns 1,584,623 shares of the company’s stock worth $36,098,000 after buying an additional 18,371 shares during the period. Emerald Advisers Inc. PA raised its position in Walker & Dunlop by 0.4% in the second quarter. Emerald Advisers Inc. PA now owns 840,653 shares of the company’s stock worth $19,150,000 after buying an additional 3,290 shares during the period. Finally, Emerald Mutual Fund Advisers Trust raised its position in Walker & Dunlop by 1.7% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 600,266 shares of the company’s stock worth $13,674,000 after buying an additional 10,000 shares during the period. Institutional investors own 78.04% of the company’s stock.
About Walker & Dunlop
Walker & Dunlop, Inc is a holding company, which conducts all of its operations through Walker & Dunlop, LLC. The Company is a provider of commercial real estate financial services in the United States, with a primary focus on multifamily lending. It 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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