Washington Federal, Inc. (WAFD) Expected to Post Quarterly Sales of $124.98 Million

Wall Street analysts forecast that Washington Federal, Inc. (NASDAQ:WAFD) will report sales of $124.98 million for the current quarter, Zacks reports. Two analysts have made estimates for Washington Federal’s earnings, with estimates ranging from $124.90 million to $125.05 million. Washington Federal posted sales of $115.05 million during the same quarter last year, which would indicate a positive year over year growth rate of 8.6%. The company is scheduled to issue its next earnings report on Tuesday, January 16th.

According to Zacks, analysts expect that Washington Federal will report full-year sales of $124.98 million for the current year, with estimates ranging from $510.60 million to $515.57 million. For the next fiscal year, analysts forecast that the firm will report sales of $560.47 million per share, with estimates ranging from $559.60 million to $561.34 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Washington Federal.

Washington Federal (NASDAQ:WAFD) last issued its quarterly earnings results on Wednesday, October 18th. The bank reported $0.52 EPS for the quarter, topping the consensus estimate of $0.49 by $0.03. The company had revenue of $128.69 million during the quarter, compared to analyst estimates of $121.46 million. Washington Federal had a net margin of 28.87% and a return on equity of 8.63%.

WAFD has been the subject of several recent analyst reports. ValuEngine raised shares of Washington Federal from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Piper Jaffray Companies reissued a “hold” rating and issued a $34.00 price target on shares of Washington Federal in a report on Friday, October 6th. Zacks Investment Research lowered shares of Washington Federal from a “buy” rating to a “hold” rating in a report on Monday, September 18th. Royal Bank of Canada reissued a “hold” rating and issued a $36.00 price target on shares of Washington Federal in a report on Friday, October 20th. Finally, BidaskClub cut shares of Washington Federal from a “hold” rating to a “sell” rating in a research note on Friday. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Washington Federal presently has a consensus rating of “Hold” and an average target price of $36.00.

Institutional investors and hedge funds have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Washington Federal by 7.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,117 shares of the bank’s stock worth $137,000 after purchasing an additional 301 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in 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. Adviser Investments LLC acquired a new stake in Washington Federal during the 3rd quarter worth $222,000. Raymond James Financial Services Advisors Inc. boosted its stake in Washington Federal by 1.9% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 6,641 shares of the bank’s stock worth $220,000 after purchasing an additional 127 shares during the last quarter. Finally, Shelton Capital Management acquired a new stake in Washington Federal during the 2nd quarter worth $225,000. 83.23% of the stock is currently owned by institutional investors.

Shares of Washington Federal (WAFD) opened at $34.40 on Friday. The company has a market cap of $2,960.00, a price-to-earnings ratio of 17.64, a P/E/G ratio of 1.65 and a beta of 1.15. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.11. Washington Federal has a 1-year low of $29.80 and a 1-year high of $35.90.

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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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