Analysts Expect Washington Federal Inc. (WAFD) Will Announce Quarterly Sales of $131.87 Million

Equities analysts forecast that Washington Federal Inc. (NASDAQ:WAFD) will report $131.87 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Washington Federal’s earnings. The highest sales estimate is $134.25 million and the lowest is $129.50 million. Washington Federal reported sales of $117.86 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 11.9%. The business is scheduled to issue its next quarterly earnings report on Thursday, April 12th.

On average, analysts expect that Washington Federal will report full year sales of $131.87 million for the current year, with estimates ranging from $516.40 million to $535.02 million. For the next year, analysts forecast that the firm will report sales of $582.51 million per share, with estimates ranging from $570.60 million to $594.41 million. Zacks’ sales calculations are an average based on a survey of research analysts that cover Washington Federal.

Washington Federal (NASDAQ:WAFD) last announced its earnings results on Wednesday, January 17th. The bank reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.08. The company had revenue of $122.53 million for the quarter, compared to analyst estimates of $124.98 million. Washington Federal had a return on equity of 9.14% and a net margin of 30.20%.

A number of equities research analysts have recently issued reports on the company. DA Davidson reaffirmed a “hold” rating and set a $39.00 target price on shares of Washington Federal in a research report on Thursday, January 18th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $38.00 price target on shares of Washington Federal in a report on Thursday, January 18th. BidaskClub downgraded Washington Federal from a “hold” rating to a “sell” rating in a report on Wednesday, January 31st. Zacks Investment Research upgraded Washington Federal from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Monday, October 23rd. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $36.00 price target on shares of Washington Federal in a report on Friday, October 20th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Washington Federal currently has a consensus rating of “Hold” and an average price target of $37.40.

Several hedge funds have recently modified their holdings of WAFD. Public Employees Retirement System of Ohio grew its holdings in shares of 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 buying an additional 62 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Washington Federal in the fourth quarter valued at about $199,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Washington Federal by 42.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,877 shares of the bank’s stock valued at $201,000 after purchasing an additional 1,760 shares in the last quarter. Koch Industries Inc. purchased a new position in Washington Federal in the second quarter valued at about $213,000. Finally, Raymond James Financial Services Advisors Inc. grew its stake in Washington Federal by 1.9% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 6,641 shares of the bank’s stock valued at $220,000 after purchasing an additional 127 shares in the last quarter. Institutional investors and hedge funds own 83.58% of the company’s stock.

Shares of Washington Federal (WAFD) opened at $34.63 on Friday. The stock has a market capitalization of $2,987.58, a price-to-earnings ratio of 16.73, a PEG ratio of 1.43 and a beta of 1.14. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.20. Washington Federal has a 52-week low of $29.80 and a 52-week high of $37.70.

Washington Federal declared that its Board of Directors has authorized a share repurchase plan on Wednesday, January 24th that allows the company to buyback 5,000,000 outstanding shares. This buyback authorization allows the bank to buy shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Friday, February 9th will be issued a dividend of $0.17 per share. This is an increase from Washington Federal’s previous quarterly dividend of $0.15. The ex-dividend date is Thursday, February 8th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.96%. Washington Federal’s payout ratio is currently 28.99%.

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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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