Walker & Dunlop, Inc.
WD · Finance Services · 34.3M shares · +2%/yr ↑ shares · EDGAR filings ↗
Net buyback after stock comp: -$7M (gross $21M, SBC $28M)
Reference price $45.78 · est. market cap ~$1.6B — last insider purchase, 2026-03-18 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C61Leading agency CRE lender in a cyclical down year — franchise quality is high but current returns and earnings are weak.
Strengths
- Top Fannie Mae DUS lender (11.2% combined GSE share) with a durable servicing/origination platform and high new-customer mix
- Recurring servicing book and de minimis failed-delivery history limit downside
Risks
- ROE only 3.2% and net income down 48% on a 11.4% revenue decline as transaction volumes contracted
- Heavy GSE/conservatorship dependence and Fannie DUS risk-sharing exposure; low tangible-book ratio (4th pct)
Notable findings
- Strong balance sheetStrong balance sheet — $299M cash & investments
- Insider buyingInsider buying — 4 open-market buy(s) by 4 insider(s) (cluster of 4 insiders, ~$789,936, last 6mo) Form 4 ↗
- Revenue declineRevenue -11.4% YoY
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Net margin
4.6%
Return on equity
3.2%
Return on assets
1.1%
Revenue growth (QoQ)
-11.4%
Net-income growth
-48.0%
Tangible book value
$724M
Cash & investments
$299M
Stock comp / revenue
2.2%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-19 | SCHMALTZ DANA L | Grant | 3.1K | — |
| 2026-05-19 | Rice E. John Jr | Grant | 3.1K | — |
| 2026-05-19 | Hayward Jeffery R | Grant | 3.1K | — |
| 2026-05-19 | FREEDMAN ERNEST MICHAEL | Grant | 3.1K | — |
| 2026-03-18 | SCHMALTZ DANA L | Buy | 1.0K | $45.78 |
| 2026-03-13 | SCHMALTZ DANA L | Option exercise | 1.1K | — |
| 2026-03-13 | Wells Donna | Option exercise | 1.4K | — |
| 2026-03-05 | FREEDMAN ERNEST MICHAEL | Buy | 5.0K | $49.21 |
| 2026-03-03 | Wells Donna | Buy | 500 | $46.96 |
| 2026-03-02 | Walker William M | Buy | 10K | $47.46 |
| 2026-02-13 | Florkowski Gregory | Grant | 12K | — |
| 2026-02-13 | Florkowski Gregory | Tax withheld | 2.9K | $61.86 |
| 2026-02-13 | Walker William M | Grant | 48K | — |
| 2026-02-13 | Walker William M | Tax withheld | 9.9K | $61.86 |
| 2026-02-13 | THEOBALD STEPHEN P | Grant | 17K | — |
| 2026-02-13 | THEOBALD STEPHEN P | Tax withheld | 3.3K | $61.86 |
| 2026-02-13 | Pryor Paula A. | Grant | 8.1K | — |
| 2026-02-13 | Pryor Paula A. | Tax withheld | 2.2K | $61.86 |
| 2026-02-13 | Groman Daniel J | Grant | 8.1K | — |
| 2026-02-13 | Groman Daniel J | Tax withheld | 1.5K | $61.86 |
| 2026-01-30 | Walker William M | Option exercise | 7.8K | — |
| 2026-01-30 | Walker William M | Tax withheld | 3.3K | $62.89 |
| 2025-09-11 | FREEDMAN ERNEST MICHAEL | Grant | 1.1K | — |
| 2025-08-29 | Pryor Paula A. | Sell | 5.3K | $86.20 |
| 2025-05-01 | Wells Donna | Grant | 2.0K | — |
| 2025-05-01 | Hayward Jeffery R | Grant | 2.0K | — |
| 2025-05-01 | Rice E. John Jr | Grant | 2.0K | — |
| 2025-05-01 | SCHMALTZ DANA L | Grant | 2.0K | — |
| 2025-04-02 | Walker William M | Gift | 21K | — |
| 2025-03-15 | Groman Daniel J | Option exercise | 3.6K | — |
| 2025-03-15 | Groman Daniel J | Tax withheld | 1.7K | $87.19 |
| 2025-03-15 | Pryor Paula A. | Option exercise | 4.4K | — |
| 2025-03-15 | Pryor Paula A. | Tax withheld | 2.0K | $87.19 |
| 2025-03-15 | SCHMALTZ DANA L | Option exercise | 1.1K | — |
| 2025-03-15 | Florkowski Gregory | Option exercise | 4.7K | — |
| 2025-03-15 | Florkowski Gregory | Tax withheld | 2.1K | $87.19 |
| 2025-03-15 | Walker William M | Option exercise | 5.5K | — |
| 2025-03-15 | Walker William M | Tax withheld | 2.3K | $87.19 |
| 2025-03-15 | Wells Donna | Option exercise | 992 | — |
| 2025-03-06 | Walker William M | Buy | 16K | $86.14 |
| 2025-03-06 | Walker William M | Buy | 1.9K | $86.80 |
| 2025-02-14 | Florkowski Gregory | Grant | 7.2K | — |
| 2025-02-14 | Florkowski Gregory | Tax withheld | 2.5K | $86.44 |
| 2025-02-14 | Walker William M | Grant | 35K | — |
| 2025-02-14 | Walker William M | Tax withheld | 6.4K | $86.44 |
| 2025-02-14 | Groman Daniel J | Grant | 4.6K | — |
| 2025-02-14 | Groman Daniel J | Tax withheld | 990 | $86.44 |
| 2025-02-14 | THEOBALD STEPHEN P | Grant | 11K | — |
| 2025-02-14 | THEOBALD STEPHEN P | Tax withheld | 2.3K | $86.44 |
| 2025-02-14 | Pryor Paula A. | Grant | 4.9K | — |
| 2025-02-14 | Pryor Paula A. | Tax withheld | 1.8K | $86.44 |
| 2025-01-31 | Walker William M | Option exercise | 9.9K | — |
| 2025-01-31 | Walker William M | Tax withheld | 2.7K | $96.07 |
| 2025-01-31 | THEOBALD STEPHEN P | Grant | 7.9K | — |
| 2025-01-31 | THEOBALD STEPHEN P | Tax withheld | 2.9K | $96.07 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-21 | Shareholder vote | filing ↗ |
| 2026-05-07 | ResultsExhibits | filing ↗ |
| 2026-03-10 | Material agreementExhibits | filing ↗ |
| 2026-03-04 | Material agreementDebt obligationExhibits | filing ↗ |
| 2026-02-26 | ResultsExhibits | filing ↗ |
| 2026-02-02 | Material agreementDebt obligationExhibits | filing ↗ |
| 2025-11-06 | ResultsExhibits | filing ↗ |
| 2025-09-17 | Material agreementDebt obligationExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-21 | 2026-05-19 | 0001104659-26-065193 ↗ |
| 8-K | 2026-05-07 | 2026-05-07 | 0001104659-26-056553 ↗ |
| 10-Q | 2026-05-07 | 2026-03-31 | 0001104659-26-056572 ↗ |
| 8-K | 2026-03-10 | 2026-03-10 | 0001104659-26-025502 ↗ |
| 8-K | 2026-03-04 | 2026-03-02 | 0001104659-26-023499 ↗ |
| 8-K | 2026-02-26 | 2026-02-26 | 0001104659-26-019956 ↗ |
| 10-K | 2026-02-26 | 2025-12-31 | 0001104659-26-020249 ↗ |
| 8-K | 2026-02-02 | 2026-01-29 | 0001104659-26-009264 ↗ |
| 10-Q | 2025-11-06 | 2025-09-30 | 0001104659-25-107312 ↗ |
| 8-K | 2025-11-06 | 2025-11-06 | 0001104659-25-107264 ↗ |
| 8-K | 2025-09-17 | 2025-09-11 | 0001104659-25-090853 ↗ |
| 8-K | 2025-09-11 | 2025-09-11 | 0001410578-25-002123 ↗ |