WaFd (NASDAQ:WAFD) Hits New 12-Month High After Dividend Announcement

WaFd, Inc. (NASDAQ:WAFD)’s share price reached a new 52-week high on Wednesday after the company announced a dividend. The stock traded as high as $34.29 and last traded at $33.6680, with a volume of 78777 shares. The stock had previously closed at $33.32.

The newly announced dividend which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Friday, February 13th. WaFd’s dividend payout ratio is presently 37.37%.

Analyst Ratings Changes

Several equities analysts have recently commented on WAFD shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of WaFd in a research report on Monday, December 29th. Royal Bank Of Canada set a $34.00 price target on shares of WaFd in a research report on Tuesday, January 20th. Keefe, Bruyette & Woods boosted their price objective on shares of WaFd from $31.00 to $34.00 and gave the stock a “market perform” rating in a report on Tuesday, January 20th. Wall Street Zen lowered shares of WaFd from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Piper Sandler lowered their price target on shares of WaFd from $33.50 to $30.50 and set a “neutral” rating for the company in a research note on Tuesday, January 20th. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $32.90.

WaFd Stock Up 1.5%

The company has a market capitalization of $2.58 billion, a P/E ratio of 11.70 and a beta of 0.86. The company has a current ratio of 0.95, a quick ratio of 0.96 and a debt-to-equity ratio of 0.89. The stock’s fifty day moving average is $32.62 and its 200 day moving average is $31.13.

WaFd (NASDAQ:WAFD) last issued its quarterly earnings data on Friday, January 16th. The bank reported $0.75 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.01). The firm had revenue of $188.32 million for the quarter, compared to the consensus estimate of $193.36 million. WaFd had a net margin of 17.45% and a return on equity of 8.67%. Research analysts predict that WaFd, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity at WaFd

In other WaFd news, CEO Brent J. Beardall purchased 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was bought at an average price of $16.85 per share, with a total value of $50,550.00. Following the completion of the purchase, the chief executive officer directly owned 6,000 shares of the company’s stock, valued at $101,100. The trade was a 100.00% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 1.49% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WAFD. Northwestern Mutual Wealth Management Co. increased its position in shares of WaFd by 42.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,174 shares of the bank’s stock valued at $34,000 after buying an additional 352 shares during the period. McIlrath & Eck LLC boosted its position in WaFd by 57.6% during the 2nd quarter. McIlrath & Eck LLC now owns 1,327 shares of the bank’s stock valued at $39,000 after acquiring an additional 485 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in shares of WaFd by 604.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,423 shares of the bank’s stock worth $43,000 after acquiring an additional 1,221 shares during the period. Danske Bank A S bought a new position in shares of WaFd in the 3rd quarter worth approximately $51,000. Finally, Blue Trust Inc. lifted its stake in shares of WaFd by 36.0% in the 3rd quarter. Blue Trust Inc. now owns 1,837 shares of the bank’s stock valued at $56,000 after purchasing an additional 486 shares during the period. 83.71% of the stock is currently owned by institutional investors.

WaFd Company Profile

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.