WaFd (NASDAQ:WAFD) Announces Earnings Results, Misses Expectations By $0.01 EPS

WaFd (NASDAQ:WAFD) released its quarterly earnings results on Thursday. The bank reported $0.75 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.01), Zacks reports. WaFd had a net margin of 16.02% and a return on equity of 8.40%. The business had revenue of $191.37 million for the quarter, compared to analysts’ expectations of $193.36 million.

WaFd Stock Down 4.0%

NASDAQ:WAFD traded down $1.34 during midday trading on Friday, reaching $32.39. 968,974 shares of the stock traded hands, compared to its average volume of 463,386. The stock has a market capitalization of $2.48 billion, a PE ratio of 12.27 and a beta of 0.86. WaFd has a 12-month low of $23.75 and a 12-month high of $33.92. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.96 and a current ratio of 0.96. The business has a 50-day moving average of $32.28 and a two-hundred day moving average of $30.96.

WaFd Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Friday, November 21st were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, November 21st. WaFd’s payout ratio is presently 40.91%.

Analyst Ratings Changes

WAFD has been the topic of several recent research reports. Keefe, Bruyette & Woods decreased their price target on WaFd from $32.00 to $31.00 and set a “market perform” rating on the stock in a report on Monday, October 20th. Wall Street Zen upgraded WaFd from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of WaFd in a research note on Monday, December 29th. Five equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $32.00.

Insider Buying and Selling at WaFd

In related news, CEO Brent J. Beardall acquired 3,000 shares of the stock in a transaction dated Wednesday, December 3rd. The stock was acquired at an average cost of $16.85 per share, for a total transaction of $50,550.00. Following the completion of the purchase, the chief executive officer owned 6,000 shares of the company’s stock, valued at approximately $101,100. This represents a 100.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.49% of the stock is owned by insiders.

Hedge Funds Weigh In On WaFd

A number of institutional investors have recently modified their holdings of WAFD. Brevan Howard Capital Management LP acquired a new stake in WaFd during the second quarter worth about $542,000. Gabelli Funds LLC purchased a new stake in shares of WaFd in the 2nd quarter valued at approximately $655,000. Amundi purchased a new stake in shares of WaFd in the 2nd quarter valued at $416,000. Walleye Capital LLC purchased a new stake in WaFd during the 2nd quarter worth approximately $606,000. Finally, Royal Bank of Canada grew its stake in shares of WaFd by 14.5% in the first quarter. Royal Bank of Canada now owns 22,011 shares of the bank’s stock worth $629,000 after acquiring an additional 2,783 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.