Analysts Expect Washington Federal, Inc. (WAFD) Will Post Quarterly Sales of $121.46 Million
Wall Street analysts expect Washington Federal, Inc. (NASDAQ:WAFD) to report $121.46 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Washington Federal’s earnings, with the highest sales estimate coming in at $121.62 million and the lowest estimate coming in at $121.30 million. Washington Federal reported sales of $118.00 million in the same quarter last year, which indicates a positive year over year growth rate of 2.9%. The business is scheduled to report its next quarterly earnings results on Wednesday, October 18th.
On average, analysts expect that Washington Federal will report full-year sales of $121.46 million for the current fiscal year, with estimates ranging from $476.70 million to $477.07 million. For the next fiscal year, analysts forecast that the business will post sales of $522.84 million per share, with estimates ranging from $522.70 million to $522.98 million. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Washington Federal.
Washington Federal (NASDAQ:WAFD) last announced its quarterly earnings data on Tuesday, July 18th. The bank reported $0.49 EPS for the quarter, beating the consensus estimate of $0.47 by $0.02. The business had revenue of $122.54 million during the quarter, compared to analyst estimates of $120.35 million. Washington Federal had a return on equity of 8.57% and a net margin of 29.06%.
A number of equities analysts have recently issued reports on WAFD shares. Zacks Investment Research raised Washington Federal from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research report on Friday, July 21st. Keefe, Bruyette & Woods reissued a “hold” rating and set a $34.00 price target on shares of Washington Federal in a research report on Tuesday, July 25th. Finally, BidaskClub raised Washington Federal from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $33.50.
Washington Federal (WAFD) opened at 31.65 on Friday. The firm’s 50-day moving average price is $31.92 and its 200 day moving average price is $32.85. Washington Federal has a 12 month low of $25.15 and a 12 month high of $35.95. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 16.65 and a beta of 1.13.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 18th. Investors of record on Friday, August 4th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date was Wednesday, August 2nd. Washington Federal’s payout ratio is currently 31.41%.
In related news, Director Thomas J. Kelley sold 6,100 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $33.72, for a total transaction of $205,692.00. Following the sale, the director now owns 21,185 shares of the company’s stock, valued at $714,358.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.28% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Meadow Creek Investment Management LLC boosted its position in Washington Federal by 9.3% during the first quarter. Meadow Creek Investment Management LLC now owns 3,200 shares of the bank’s stock valued at $106,000 after purchasing an additional 272 shares in the last quarter. Creative Planning boosted its position in Washington Federal by 3.1% during the second quarter. Creative Planning now owns 3,327 shares of the bank’s stock valued at $110,000 after purchasing an additional 101 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Washington Federal by 61.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,816 shares of the bank’s stock valued at $126,000 after purchasing an additional 1,459 shares in the last quarter. Neuburgh Advisers LLC boosted its position in Washington Federal by 9.3% during the first quarter. Neuburgh Advisers LLC now owns 4,400 shares of the bank’s stock valued at $146,000 after purchasing an additional 374 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in Washington Federal by 1.1% during the second quarter. Public Employees Retirement System of Ohio now owns 5,522 shares of the bank’s stock valued at $183,000 after purchasing an additional 62 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.
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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