WashingtonFirst Bankshares Inc. (WFBI) Rating Lowered to Market Perform at Raymond James Financial Inc.
WashingtonFirst Bankshares Inc. (NASDAQ:WFBI) was downgraded by equities research analysts at Raymond James Financial Inc. from an “outperform” rating to a “market perform” rating in a research report issued on Friday.
Separately, Zacks Investment Research upgraded WashingtonFirst Bankshares from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research report on Friday, September 2nd.
Shares of WashingtonFirst Bankshares (NASDAQ:WFBI) opened at 23.73 on Friday. The firm has a 50 day moving average price of $24.53 and a 200 day moving average price of $22.82. The stock has a market capitalization of $290.74 million, a PE ratio of 18.38 and a beta of 0.08. WashingtonFirst Bankshares has a one year low of $18.00 and a one year high of $25.46.
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WashingtonFirst Bankshares (NASDAQ:WFBI) last released its earnings results on Thursday, July 21st. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.03. WashingtonFirst Bankshares had a return on equity of 8.62% and a net margin of 16.81%. Analysts predict that WashingtonFirst Bankshares will post $1.37 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Monday, September 12th were given a dividend of $0.06 per share. The ex-dividend date was Thursday, September 8th. This represents a $0.24 dividend on an annualized basis and a yield of 1.01%. WashingtonFirst Bankshares’s payout ratio is 18.46%.
In related news, Director Caren D. Merrick acquired 4,065 shares of WashingtonFirst Bankshares stock in a transaction that occurred on Monday, August 22nd. The shares were purchased at an average price of $23.98 per share, for a total transaction of $97,478.70. Following the completion of the transaction, the director now owns 2,960 shares in the company, valued at approximately $70,980.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 22.86% of the company’s stock.
A number of large investors have recently bought and sold shares of WFBI. BlackRock Fund Advisors boosted its stake in WashingtonFirst Bankshares by 15,053.9% in the second quarter. BlackRock Fund Advisors now owns 219,428 shares of the company’s stock valued at $4,742,000 after buying an additional 217,980 shares during the period. Maltese Capital Management LLC acquired a new stake in WashingtonFirst Bankshares during the fourth quarter valued at about $3,962,000. Creative Planning acquired a new stake in WashingtonFirst Bankshares during the first quarter valued at about $2,001,000. Banc Funds Co. LLC boosted its stake in WashingtonFirst Bankshares by 57.6% in the second quarter. Banc Funds Co. LLC now owns 236,930 shares of the company’s stock valued at $5,120,000 after buying an additional 86,631 shares during the period. Finally, State Street Corp acquired a new stake in WashingtonFirst Bankshares during the second quarter valued at about $1,792,000. 48.63% of the stock is owned by institutional investors.
About WashingtonFirst Bankshares
WashingtonFirst Bankshares, Inc is a bank holding company. The Company, through its subsidiary, WashingtonFirst Bank (the Bank), operates approximately 20 banking offices throughout the Washington, District of Columbia (DC) metropolitan area. The Company’s segments include traditional commercial banking, a mortgage banking business and a wealth management business.
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