Analysts Expect Washington Federal, Inc. (WAFD) Will Announce Quarterly Sales of $121.46 Million
Equities research analysts expect that Washington Federal, Inc. (NASDAQ:WAFD) will post sales of $121.46 million for the current quarter, Zacks reports. Two analysts have issued estimates for Washington Federal’s earnings. The lowest sales estimate is $121.30 million and the highest is $121.62 million. Washington Federal posted sales of $118.00 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.9%. The business is expected to announce its next earnings report on Wednesday, October 18th.
According to Zacks, analysts expect that Washington Federal will report full year sales of $121.46 million for the current financial year, with estimates ranging from $476.70 million to $477.07 million. For the next financial year, analysts forecast that the company will post sales of $522.84 million per share, with estimates ranging from $522.70 million to $522.98 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Washington Federal.
Washington Federal (NASDAQ:WAFD) last posted its earnings results on Tuesday, July 18th. The bank reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.02. Washington Federal had a net margin of 29.06% and a return on equity of 8.57%. The company had revenue of $122.54 million for the quarter, compared to analyst estimates of $120.35 million.
WAFD has been the subject of a number of recent research reports. BidaskClub raised shares of Washington Federal from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Zacks Investment Research raised shares of Washington Federal from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a report on Friday, July 21st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $34.00 target price on shares of Washington Federal in a report on Tuesday, July 25th. ValuEngine cut shares of Washington Federal from a “buy” rating to a “hold” rating in a report on Thursday, September 7th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $35.00 target price on shares of Washington Federal in a report on Friday, September 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $33.50.
In other Washington Federal news, Director Thomas J. Kelley sold 6,100 shares of Washington Federal stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $33.72, for a total value of $205,692.00. Following the completion of the transaction, the director now directly owns 21,185 shares of the company’s stock, valued at $714,358.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.28% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in WAFD. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of 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 during the last quarter. UBS Asset Management Americas Inc. raised its holdings in shares of Washington Federal by 15.8% during the first quarter. UBS Asset Management Americas Inc. now owns 57,406 shares of the bank’s stock valued at $1,900,000 after purchasing an additional 7,821 shares during the last quarter. Parametric Portfolio Associates LLC raised its holdings in shares of Washington Federal by 24.4% during the first quarter. Parametric Portfolio Associates LLC now owns 214,969 shares of the bank’s stock valued at $7,115,000 after purchasing an additional 42,097 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Washington Federal by 4.3% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 6,514 shares of the bank’s stock valued at $216,000 after purchasing an additional 271 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Washington Federal by 8.3% during the first quarter. Envestnet Asset Management Inc. now owns 7,273 shares of the bank’s stock valued at $238,000 after purchasing an additional 560 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.
Shares of Washington Federal (NASDAQ:WAFD) opened at 34.20 on Friday. Washington Federal has a 12-month low of $25.15 and a 12-month high of $35.95. The company has a 50 day moving average of $32.05 and a 200-day moving average of $32.83. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of 17.99 and a beta of 1.14.
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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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