ValuEngine Lowers Washington Federal, Inc. (WAFD) to Hold
Washington Federal, Inc. (NASDAQ:WAFD) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.
Several other research firms have also recently issued reports on WAFD. Zacks Investment Research raised shares of Washington Federal from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research report on Monday, June 12th. BidaskClub raised shares of Washington Federal from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $34.00 price objective on shares of Washington Federal in a research report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $33.50.
Shares of Washington Federal (WAFD) traded down 2.77% during mid-day trading on Thursday, hitting $29.85. The company had a trading volume of 300,739 shares. Washington Federal has a 52-week low of $25.15 and a 52-week high of $35.95. The firm has a 50-day moving average price of $32.31 and a 200 day moving average price of $32.99. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of 15.70 and a beta of 1.13.
Washington Federal (NASDAQ:WAFD) last released its quarterly earnings data on Tuesday, July 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.02. The business had revenue of $122.54 million during the quarter, compared to analysts’ expectations of $120.35 million. Washington Federal had a net margin of 29.06% and a return on equity of 8.57%. Analysts expect that Washington Federal will post $1.91 earnings per share for the current year.
In other news, Director Thomas J. Kelley sold 6,100 shares of Washington Federal stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $33.72, for a total transaction of $205,692.00. Following the completion of the sale, the director now directly owns 21,185 shares of the company’s stock, valued at approximately $714,358.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.28% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in WAFD. BlackRock Inc. lifted its position in shares of Washington Federal by 16,855.9% during the 1st quarter. BlackRock Inc. now owns 9,559,901 shares of the bank’s stock worth $316,434,000 after purchasing an additional 9,503,520 shares during the last quarter. Norges Bank purchased a new stake in Washington Federal in the fourth quarter valued at $50,836,000. Janus Henderson Group PLC purchased a new stake in Washington Federal in the second quarter valued at $22,965,000. Numeric Investors LLC purchased a new stake in Washington Federal in the fourth quarter valued at $14,510,000. Finally, FMR LLC lifted its position in Washington Federal by 7.4% in the second quarter. FMR LLC now owns 8,016,631 shares of the bank’s stock valued at $266,152,000 after acquiring an additional 549,742 shares during the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.
About Washington Federal
Washington Federal, Inc is a bank holding company. The Company conducts its operations through a federally insured national bank subsidiary, Washington Federal, National Association (the Bank). The business of the Bank consists primarily of accepting deposits from the general public and investing these funds in loans of various types, including first lien mortgages on single-family dwellings, construction loans, land acquisition and development loans, loans on multi-family, commercial real estate and other income producing properties, home equity loans and business loans.
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