Washington Federal, Inc. (WAFD) Given Average Rating of “Hold” by Brokerages
Shares of Washington Federal, Inc. (NASDAQ:WAFD) have received a consensus recommendation of “Hold” from the six research firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $33.00.
WAFD has been the topic of a number of recent research reports. Zacks Investment Research raised Washington Federal from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research report on Friday, September 1st. Keefe, Bruyette & Woods reissued a “hold” rating and set a $34.00 price target on shares of Washington Federal in a research report on Wednesday, May 24th. Finally, BidaskClub downgraded Washington Federal from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st.
In related news, Director Thomas J. Kelley sold 6,100 shares of the company’s stock in a transaction on Wednesday, July 26th. The stock was 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 in the company, valued at approximately $714,358.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.28% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Meadow Creek Investment Management LLC lifted its stake in shares of Washington Federal by 9.3% during the 1st quarter. Meadow Creek Investment Management LLC now owns 3,200 shares of the bank’s stock worth $106,000 after purchasing an additional 272 shares during the last quarter. Creative Planning lifted its stake in shares of Washington Federal by 3.1% during the 2nd quarter. Creative Planning now owns 3,327 shares of the bank’s stock worth $110,000 after purchasing an additional 101 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Washington Federal by 61.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,816 shares of the bank’s stock worth $126,000 after purchasing an additional 1,459 shares during the last quarter. Neuburgh Advisers LLC lifted its stake in shares of Washington Federal by 9.3% during the 1st quarter. Neuburgh Advisers LLC now owns 4,400 shares of the bank’s stock worth $146,000 after purchasing an additional 374 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in shares of Washington Federal by 1.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 5,522 shares of the bank’s stock worth $183,000 after purchasing an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.
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Washington Federal (NASDAQ:WAFD) traded down 2.77% during trading on Thursday, hitting $29.85. The stock had a trading volume of 300,739 shares. The stock’s 50-day moving average is $32.31 and its 200-day moving average is $32.99. Washington Federal has a 52-week low of $25.15 and a 52-week high of $35.95. The stock has a market capitalization of $2.64 billion, a PE ratio of 15.70 and a beta of 1.13.
Washington Federal (NASDAQ:WAFD) last posted its quarterly earnings results on Tuesday, July 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. Washington Federal had a return on equity of 8.57% and a net margin of 29.06%. The business had revenue of $122.54 million for the quarter, compared to the consensus estimate of $120.35 million. On average, analysts predict that Washington Federal will post $1.91 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 18th. Investors of record on Friday, August 4th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend was Wednesday, August 2nd. Washington Federal’s dividend payout ratio (DPR) is currently 31.41%.
Washington Federal Company Profile
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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