Huntington National Bank Purchases 3,234 Shares of The Western Union Company (NYSE:WU)

Huntington National Bank boosted its holdings in The Western Union Company (NYSE:WU) by 662.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,722 shares of the credit services provider’s stock after buying an additional 3,234 shares during the quarter. Huntington National Bank’s holdings in Western Union were worth $39,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in WU. R Squared Ltd acquired a new position in shares of Western Union during the fourth quarter worth $25,000. Independence Bank of Kentucky acquired a new position in Western Union during the 4th quarter worth about $28,000. Wilmington Savings Fund Society FSB grew its position in shares of Western Union by 1,734.7% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,862 shares of the credit services provider’s stock valued at $52,000 after buying an additional 4,597 shares during the last quarter. Sound Income Strategies LLC bought a new stake in shares of Western Union in the 4th quarter valued at about $53,000. Finally, AlphaMark Advisors LLC increased its stake in shares of Western Union by 329.4% in the fourth quarter. AlphaMark Advisors LLC now owns 5,153 shares of the credit services provider’s stock valued at $55,000 after buying an additional 3,953 shares during the period. 91.81% of the stock is currently owned by institutional investors and hedge funds.

Western Union Stock Performance

Shares of WU opened at $9.68 on Tuesday. The stock has a 50-day moving average of $10.63 and a 200-day moving average of $10.87. The Western Union Company has a one year low of $9.62 and a one year high of $13.93. The company has a debt-to-equity ratio of 3.04, a current ratio of 1.20 and a quick ratio of 1.10. The company has a market cap of $3.24 billion, a PE ratio of 3.54, a P/E/G ratio of 1.32 and a beta of 0.69.

Western Union (NYSE:WU) last released its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $0.40 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.02). Western Union had a net margin of 22.19% and a return on equity of 96.90%. On average, equities research analysts predict that The Western Union Company will post 1.79 EPS for the current fiscal year.

Western Union Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a dividend yield of 9.72%. The ex-dividend date of this dividend was Monday, March 17th. Western Union’s payout ratio is presently 34.43%.

Western Union declared that its board has initiated a share repurchase plan on Friday, December 13th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the credit services provider to buy up to 27.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on WU. Royal Bank of Canada reiterated a “sector perform” rating and issued a $14.00 target price on shares of Western Union in a report on Thursday, April 3rd. Susquehanna reduced their price objective on shares of Western Union from $13.00 to $12.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Barclays dropped their target price on shares of Western Union from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Friday, December 13th. JMP Securities reiterated a “market perform” rating on shares of Western Union in a report on Thursday, February 6th. Finally, Keefe, Bruyette & Woods dropped their price objective on Western Union from $13.00 to $12.00 and set a “market perform” rating on the stock in a research note on Monday, December 9th. Three investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $12.11.

Western Union Company Profile

The Western Union Company provides money movement and payment services worldwide. The company operates through Consumer Money Transfer and Consumer Services segments. The Consumer Money Transfer segment facilitates money transfers for international cross-border and intra-country transfers, primarily through a network of retail agent locations, as well as through websites and mobile devices.