WaFd, Inc. (NASDAQ:WAFD) Given Average Recommendation of “Hold” by Brokerages

WaFd, Inc. (NASDAQ:WAFD) has earned a consensus recommendation of “Hold” from the six analysts that are currently covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $34.80.

Several equities analysts have commented on WAFD shares. Keefe, Bruyette & Woods raised their price target on shares of WaFd from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Monday, April 20th. Piper Sandler upped their price objective on WaFd from $30.50 to $36.00 and gave the stock a “neutral” rating in a research report on Monday, April 20th. Zacks Research cut WaFd from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Finally, Weiss Ratings upgraded WaFd from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 22nd.

WaFd Price Performance

Shares of NASDAQ:WAFD opened at $38.34 on Friday. The firm has a market capitalization of $2.83 billion, a PE ratio of 12.53 and a beta of 0.83. WaFd has a 1 year low of $26.31 and a 1 year high of $39.35. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.97 and a quick ratio of 0.97. The firm’s 50-day moving average is $36.07 and its two-hundred day moving average is $33.71.

WaFd (NASDAQ:WAFD) last posted its quarterly earnings data on Friday, April 17th. The bank reported $0.83 EPS for the quarter, beating the consensus estimate of $0.74 by $0.09. The business had revenue of $197.66 million during the quarter, compared to analyst estimates of $190.51 million. WaFd had a net margin of 18.25% and a return on equity of 8.94%. During the same quarter last year, the firm posted $0.17 earnings per share. Analysts predict that WaFd will post 3.27 EPS for the current year.

WaFd Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were given a $0.27 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.08 dividend on an annualized basis and a yield of 2.8%. WaFd’s dividend payout ratio (DPR) is currently 35.29%.

Insider Activity

In other news, EVP Kim E. Robison sold 22,000 shares of WaFd stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $35.28, for a total value of $776,160.00. Following the completion of the transaction, the executive vice president owned 116,099 shares in the company, valued at approximately $4,095,972.72. This trade represents a 15.93% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.49% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in shares of WaFd by 399.4% in the 4th quarter. Wellington Management Group LLP now owns 333,712 shares of the bank’s stock valued at $10,689,000 after purchasing an additional 266,891 shares during the last quarter. ExodusPoint Capital Management LP lifted its position in shares of WaFd by 373.8% during the 4th quarter. ExodusPoint Capital Management LP now owns 287,947 shares of the bank’s stock worth $9,223,000 after purchasing an additional 227,174 shares during the last quarter. Bank of America Corp DE lifted its position in shares of WaFd by 28.1% during the 1st quarter. Bank of America Corp DE now owns 905,863 shares of the bank’s stock worth $28,444,000 after purchasing an additional 198,728 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of WaFd by 52.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 448,716 shares of the bank’s stock worth $14,372,000 after purchasing an additional 153,556 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of WaFd by 11.8% during the third quarter. Ameriprise Financial Inc. now owns 1,375,110 shares of the bank’s stock worth $41,652,000 after purchasing an additional 145,646 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

About WaFd

Washington Federal, Inc, doing business as WaFd Bank, is a publicly traded bank holding company headquartered in Seattle, Washington. Through its subsidiary, WaFd Bank, the company provides a range of banking and financial services to individuals, small-to-medium enterprises, and commercial clients. Established in 1917 as Ballard Savings & Loan in Seattle, the institution expanded over decades to serve customers across the Western United States under the Washington Federal name and has operated as a public company since the early 1980s.

WaFd Bank’s core offerings encompass deposit accounts such as checking, savings, money market, and certificates of deposit, alongside consumer and commercial lending products.