Brandywine Global Investment Management LLC trimmed its position in Washington Federal Inc. (NASDAQ:WAFD) by 13.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 326,169 shares of the bank’s stock after selling 49,201 shares during the quarter. Brandywine Global Investment Management LLC owned 0.38% of Washington Federal worth $11,172,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the stock. Public Employees Retirement System of Ohio grew its stake 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 worth $183,000 after buying an additional 62 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Washington Federal during the fourth quarter worth $199,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Washington Federal by 42.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,877 shares of the bank’s stock worth $201,000 after buying an additional 1,760 shares during the last quarter. Ramsey Quantitative Systems bought a new stake in shares of Washington Federal during the fourth quarter worth $239,000. Finally, Victory Capital Management Inc. bought a new stake in shares of Washington Federal during the third quarter worth $259,000. 84.50% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have weighed in on WAFD. ValuEngine raised shares of Washington Federal from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. BidaskClub raised shares of Washington Federal from a “sell” rating to a “hold” rating in a research note on Tuesday, February 6th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $38.00 target price on shares of Washington Federal in a research note on Thursday, January 18th. Finally, DA Davidson reaffirmed a “hold” rating and set a $39.00 target price on shares of Washington Federal in a research note on Thursday, January 18th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $37.40.
Washington Federal (NASDAQ:WAFD) last issued its quarterly earnings results on Wednesday, January 17th. The bank reported $0.59 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 net margin of 30.20% and a return on equity of 9.14%. research analysts forecast that Washington Federal Inc. will post 2.44 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend was Thursday, February 8th. This is a positive change from Washington Federal’s previous quarterly dividend of $0.15. Washington Federal’s payout ratio is 32.85%.
Washington Federal declared that its Board of Directors has approved a share repurchase program on Wednesday, January 24th that allows the company to buyback 5,000,000 outstanding shares. This buyback authorization allows the bank to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
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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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