M&T Bank Corp increased its stake in The Western Union Company (NYSE:WU – Get Rating) by 16.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,010 shares of the credit services provider’s stock after acquiring an additional 3,108 shares during the period. M&T Bank Corp’s holdings in Western Union were worth $412,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CWM LLC acquired a new position in Western Union during the fourth quarter valued at approximately $30,000. Riverview Trust Co raised its stake in shares of Western Union by 99.7% during the first quarter. Riverview Trust Co now owns 2,047 shares of the credit services provider’s stock valued at $38,000 after purchasing an additional 1,022 shares during the period. First Horizon Advisors Inc. raised its stake in shares of Western Union by 61.1% during the fourth quarter. First Horizon Advisors Inc. now owns 2,680 shares of the credit services provider’s stock valued at $47,000 after purchasing an additional 1,016 shares during the period. UMB Bank NA MO purchased a new stake in shares of Western Union during the fourth quarter valued at approximately $49,000. Finally, Norwood Financial Corp purchased a new stake in shares of Western Union during the fourth quarter valued at approximately $51,000. 97.43% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the stock. Northland Securities dropped their price objective on shares of Western Union from $24.00 to $22.00 in a research note on Thursday, August 4th. TheStreet lowered shares of Western Union from a “b-” rating to a “c+” rating in a research note on Tuesday, July 12th. Wolfe Research lowered shares of Western Union from a “market perform” rating to an “underperform” rating and dropped their price objective for the company from $20.00 to $17.00 in a research note on Wednesday, July 20th. The Goldman Sachs Group dropped their price objective on shares of Western Union from $18.00 to $15.50 and set a “sell” rating on the stock in a research note on Monday, August 8th. Finally, Citigroup lowered shares of Western Union from a “buy” rating to a “neutral” rating and set a $20.00 price target for the company. in a research note on Friday, April 29th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Western Union has an average rating of “Hold” and a consensus price target of $18.89.
Western Union Stock Down 1.4%
WU stock opened at $16.46 on Tuesday. The company has a debt-to-equity ratio of 6.01, a current ratio of 0.99 and a quick ratio of 0.99. The Western Union Company has a 1-year low of $15.30 and a 1-year high of $22.55. The firm has a fifty day moving average price of $16.59 and a two-hundred day moving average price of $17.69. The firm has a market cap of $6.35 billion, a price-to-earnings ratio of 7.38 and a beta of 0.89.
Western Union (NYSE:WU – Get Rating) last released its earnings results on Wednesday, August 3rd. The credit services provider reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.10. Western Union had a net margin of 18.27% and a return on equity of 239.89%. During the same quarter last year, the business earned $0.48 earnings per share. Research analysts predict that The Western Union Company will post 1.8 EPS for the current year.
Western Union Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be issued a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a dividend yield of 5.71%. The ex-dividend date of this dividend is Thursday, September 15th. Western Union’s dividend payout ratio (DPR) is 42.15%.
Western Union Profile
The Western Union Company provides money movement and payment services worldwide. The company operates in two segments, Consumer-to-Consumer and Business Solutions. The Consumer-to-Consumer segment facilitates money transfers between two consumers, primarily through a network of third-party agents and sub-agents; and offers international cross-border transfers and intra-country transfers, as well as money transfer transactions through websites and mobile devices.
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