Washington Federal (WAFD) Cut to “Sell” at BidaskClub

Washington Federal (NASDAQ:WAFD) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

WAFD has been the topic of several other reports. Zacks Investment Research upgraded shares of Washington Federal from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Monday, October 23rd. Royal Bank of Canada reiterated a “hold” rating and issued a $36.00 price objective on shares of Washington Federal in a report on Friday, October 20th. ValuEngine downgraded shares of Washington Federal from a “buy” rating to a “hold” rating in a report on Saturday, November 25th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $34.00 price objective on shares of Washington Federal in a report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Washington Federal currently has an average rating of “Hold” and a consensus price target of $36.00.

Shares of Washington Federal (NASDAQ:WAFD) traded up $0.30 on Friday, reaching $34.40. 400,631 shares of the company were exchanged, compared to its average volume of 411,125. The firm has a market capitalization of $2,960.00, a P/E ratio of 17.64, a price-to-earnings-growth ratio of 1.65 and a beta of 1.15. Washington Federal has a fifty-two week low of $29.80 and a fifty-two week high of $35.90. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.02 and a current ratio of 1.02.

Washington Federal (NASDAQ:WAFD) last issued its earnings results on Wednesday, October 18th. The bank reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.03. The business had revenue of $128.69 million for the quarter, compared to the consensus estimate of $121.46 million. Washington Federal had a net margin of 28.87% and a return on equity of 8.63%. analysts predict that Washington Federal will post 2.07 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in the business. FMR LLC increased its holdings in shares of 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 purchasing an additional 549,742 shares during the last quarter. State Street Corp increased its holdings in shares of Washington Federal by 5.1% in the second quarter. State Street Corp now owns 3,804,883 shares of the bank’s stock valued at $126,320,000 after purchasing an additional 185,062 shares during the last quarter. Northern Trust Corp grew its stake in shares of Washington Federal by 12.8% in the second quarter. Northern Trust Corp now owns 3,039,627 shares of the bank’s stock valued at $100,916,000 after acquiring an additional 343,912 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Washington Federal by 12.4% in the second quarter. Goldman Sachs Group Inc. now owns 1,971,317 shares of the bank’s stock valued at $65,448,000 after acquiring an additional 217,136 shares in the last quarter. Finally, Frontier Capital Management Co. LLC grew its stake in shares of Washington Federal by 2.2% in the third quarter. Frontier Capital Management Co. LLC now owns 1,958,375 shares of the bank’s stock valued at $65,899,000 after acquiring an additional 41,724 shares in the last quarter. Hedge funds and other institutional investors own 83.23% of the company’s stock.

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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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