Below are the dividend stocks that were subject to analyst moves before the bell. Our analysts weigh in with insight and commentary as to what you can expect going forward.

Monness, Crespi, Hardt Upgraded Western Union from Neutral to Buy

Monness, Crespi, Hardt upgraded Western Union (WU ) from Neutral to Buy with a price target of $22.00.

Shares of Western Union Co. closed at $18.85 yesterday. Western Union pays an annual dividend of $0.62 (paid quarterly).

Axis Capital Upgraded by Macquarie to Outperform

Macquarie upgraded Axis Capital (AXS ) from Neutral to Outperform with a price target of $65.00.

Shares of AXIS Capital closed at $55.00 yesterday. Axis Capital pays an annual dividend of $1.16 (paid quarterly).

HSBC Holdings Upgraded by Exane BNP Paribas to Neutral

Exane BNP Paribas upgraded HSBC Holdings (HSBC ) from Underperform to Neutral.

Shares of HSBC Holdings closed at $42.55 yesterday. HSBC Holdings pays an annual dividend of $2 (paid quarterly).

Dunkin’ Brands Downgraded to Neutral by Goldman Sachs

Goldman Sachs downgraded Dunkin’ Brands (DNKN ) from Buy to Neutral with a price target of $55 (unchanged). The downgrade is tied to valuation.

Shares of Dunkin’ Brands closed at $55.38 yesterday. Dunkin’ Brands pays an annual dividend of $1.06 (paid quarterly).

Con-way Downgraded to Neutral by Credit Suisse

Credit Suisse downgraded Con-way (CNW ) from Outperform to Neutral with a price target of $38.00 (from $47.00).

Shares of Con-way closed at $35.44 yesterday. Con-way pays an annual dividend of $0.60 (paid quarterly).