Bank of America Corp DE Acquires 204,979 Shares of Walker & Dunlop, Inc. $WD

Key Points

• Bank of America increased its Walker & Dunlop stake by 75.2%, purchasing 204,979 additional shares to own 477,737 shares valued at approximately $21.2 million. Institutional investors and hedge funds collectively own 80.97% of the company.
• Walker & Dunlop reported quarterly EPS of $1.19, beating estimates of $0.90, but revenue of $306.69 million fell short of expectations and declined 3.9% year over year. Shares opened at $39.85, near their 52-week low and down 2.1%.
• The company declared a quarterly dividend of $0.68, implying an annualized yield of 6.8%, though its payout ratio is elevated at 242.86%. Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $64.

Bank of America Corp DE raised its holdings in Walker & Dunlop, Inc. (NYSE:WD - Free Report) by 75.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 477,737 shares of the financial services provider's stock after buying an additional 204,979 shares during the period. Bank of America Corp DE owned about 1.39% of Walker & Dunlop worth $21,202,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its position in Walker & Dunlop by 107.9% during the first quarter. EverSource Wealth Advisors LLC now owns 580 shares of the financial services provider's stock worth $26,000 after purchasing an additional 301 shares during the period. Conversant Capital LLC raised its position in shares of Walker & Dunlop by 33.0% in the first quarter. Conversant Capital LLC now owns 560,316 shares of the financial services provider's stock valued at $24,867,000 after purchasing an additional 138,936 shares during the period. Entropy Technologies LP lifted its stake in shares of Walker & Dunlop by 14.4% during the 1st quarter. Entropy Technologies LP now owns 4,804 shares of the financial services provider's stock worth $213,000 after buying an additional 605 shares during the last quarter. Caxton Associates LLP lifted its stake in shares of Walker & Dunlop by 27.0% during the 1st quarter. Caxton Associates LLP now owns 6,110 shares of the financial services provider's stock worth $271,000 after buying an additional 1,298 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in shares of Walker & Dunlop by 29.0% during the 1st quarter. Sei Investments Co. now owns 41,105 shares of the financial services provider's stock worth $1,824,000 after buying an additional 9,240 shares during the last quarter. 80.97% of the stock is owned by institutional investors and hedge funds.

Walker & Dunlop Trading Down 2.1%

Shares of WD stock opened at $39.85 on Wednesday. The stock has a market cap of $1.37 billion, a P/E ratio of 35.58 and a beta of 1.49. Walker & Dunlop, Inc. has a 1 year low of $39.49 and a 1 year high of $90.00. The stock has a 50 day simple moving average of $49.59 and a 200 day simple moving average of $50.96.

Walker & Dunlop (NYSE:WD - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The financial services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.29. The firm had revenue of $306.69 million during the quarter, compared to analysts' expectations of $337.37 million. Walker & Dunlop had a return on equity of 7.25% and a net margin of 2.94%.The company's quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.15 EPS.

Walker & Dunlop Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 6.8%. The ex-dividend date of this dividend is Thursday, August 20th. Walker & Dunlop's dividend payout ratio (DPR) is currently 242.86%.

Analyst Upgrades and Downgrades

WD has been the subject of a number of research analyst reports. Weiss Ratings upgraded Walker & Dunlop from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, August 4th. Wall Street Zen cut Walker & Dunlop from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Citigroup restated a "market outperform" rating on shares of Walker & Dunlop in a research note on Tuesday. Keefe, Bruyette & Woods decreased their price objective on Walker & Dunlop from $63.00 to $57.00 and set an "outperform" rating on the stock in a report on Friday, August 7th. Finally, Stephens started coverage on Walker & Dunlop in a research report on Thursday, April 23rd. They set an "overweight" rating and a $69.00 price objective on the stock. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Walker & Dunlop presently has an average rating of "Moderate Buy" and an average target price of $64.00.

Walker & Dunlop Company Profile

Walker & Dunlop is one of the largest providers of commercial real estate finance in the United States, specializing in the origination, servicing and sale of loans secured by multifamily, seniors housing, healthcare, student housing and manufactured housing properties. The firm offers a full suite of debt and equity solutions, including agency financing through Fannie Mae and Freddie Mac, HUD and FHA-insured loans, bridge and construction financing, mezzanine debt, preferred equity, and investment sales advisory.

With roots dating back to 1937 and its headquarters in Bethesda, Maryland, Walker & Dunlop has expanded its platform through both organic growth and strategic acquisitions.

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