Zacks Investment Research downgraded shares of WashingtonFirst Bankshares Inc. (NASDAQ:WFBI) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

According to Zacks, “WashingtonFirst Bankshares, Inc. operates as a bank holding company. The Company’s banking subsidiary offers various deposit products, including business and personal checking accounts, NOW accounts, tiered savings and money market accounts, time deposit accounts, and individual retirement accounts. It also offers commercial loans, commercial real estate loans, commercial and residential real estate construction loans, residential mortgage loans, home equity loans, and consumer loans. The company provides cash management services, such as electronic banking, sweep accounts, lockbox and account reconciliation, merchant card depository, safe deposit boxes, and automated clearing house origination services, as well as after hour depository, ATMs, remote deposit capture, and courier services. WashingtonFirst Bankshares, Inc. is based in Reston, Virginia. “

WashingtonFirst Bankshares (NASDAQ:WFBI) opened at 24.50 on Tuesday. The firm’s 50 day moving average is $24.21 and its 200-day moving average is $22.39. The firm has a market cap of $300.17 million, a price-to-earnings ratio of 18.98 and a beta of 0.07. WashingtonFirst Bankshares has a 12 month low of $17.70 and a 12 month high of $25.46.

WashingtonFirst Bankshares (NASDAQ:WFBI) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. WashingtonFirst Bankshares had a net margin of 16.81% and a return on equity of 8.62%. On average, equities analysts forecast that WashingtonFirst Bankshares will post $1.37 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Monday, September 12th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Thursday, September 8th. WashingtonFirst Bankshares’s dividend payout ratio is currently 18.46%.

In other news, Director Caren D. Merrick purchased 4,065 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The shares were bought at an average cost of $23.98 per share, with a total value of $97,478.70. Following the completion of the transaction, the director now directly owns 2,960 shares of the company’s stock, valued at $70,980.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 22.86% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WFBI. Geode Capital Management LLC raised its position in WashingtonFirst Bankshares by 21.3% in the first quarter. Geode Capital Management LLC now owns 12,040 shares of the company’s stock worth $263,000 after buying an additional 2,118 shares during the last quarter. Creative Planning raised its position in WashingtonFirst Bankshares by 4.2% in the second quarter. Creative Planning now owns 95,397 shares of the company’s stock worth $2,062,000 after buying an additional 3,834 shares during the last quarter. American International Group Inc. purchased a new position in WashingtonFirst Bankshares during the second quarter worth $101,000. Nationwide Fund Advisors raised its position in WashingtonFirst Bankshares by 182.9% in the second quarter. Nationwide Fund Advisors now owns 9,335 shares of the company’s stock worth $202,000 after buying an additional 6,035 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in WashingtonFirst Bankshares by 49.6% in the second quarter. Dimensional Fund Advisors LP now owns 20,215 shares of the company’s stock worth $437,000 after buying an additional 6,702 shares during the last quarter. 48.63% of the stock is currently owned by institutional investors.

WashingtonFirst Bankshares Company Profile

WashingtonFirst Bankshares, Inc is a bank holding company. The Company, through its subsidiary, WashingtonFirst Bank (the Bank), operates approximately 20 banking offices throughout the Washington, District of Columbia (DC) metropolitan area. The Company’s segments include traditional commercial banking, a mortgage banking business and a wealth management business.

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