Bank of Montreal Can increased its holdings in shares of Washington Federal Inc. (NASDAQ:WAFD) by 5.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 113,641 shares of the bank’s stock after purchasing an additional 5,673 shares during the period. Bank of Montreal Can owned 0.13% of Washington Federal worth $3,891,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently modified their holdings of the business. State Street Corp lifted its holdings in Washington Federal by 5.1% in the 2nd quarter. State Street Corp now owns 3,804,883 shares of the bank’s stock worth $126,320,000 after buying an additional 185,062 shares in the last quarter. Frontier Capital Management Co. LLC raised its stake in shares of Washington Federal by 2.2% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 1,958,375 shares of the bank’s stock valued at $65,899,000 after purchasing an additional 41,724 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Washington Federal by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 973,517 shares of the bank’s stock valued at $32,759,000 after purchasing an additional 29,294 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Washington Federal by 5.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 925,738 shares of the bank’s stock valued at $31,148,000 after purchasing an additional 51,233 shares in the last quarter. Finally, Boston Partners raised its stake in shares of Washington Federal by 4.7% in the 3rd quarter. Boston Partners now owns 863,314 shares of the bank’s stock valued at $29,050,000 after purchasing an additional 38,999 shares in the last quarter. Hedge funds and other institutional investors own 83.11% of the company’s stock.
Shares of Washington Federal Inc. (WAFD) opened at $35.10 on Wednesday. Washington Federal Inc. has a one year low of $29.80 and a one year high of $37.70. The company has a market cap of $3,021.97, a P/E ratio of 16.98, a P/E/G ratio of 1.44 and a beta of 1.14. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.20.
Washington Federal (NASDAQ:WAFD) last issued its quarterly earnings results on Wednesday, January 17th. The bank reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.08. The business had revenue of $122.53 million during the quarter, compared to the consensus estimate of $124.98 million. Washington Federal had a net margin of 30.20% and a return on equity of 9.14%. equities analysts predict that Washington Federal Inc. will post 2.44 EPS for the current year.
Washington Federal announced that its board has initiated a share repurchase program on Wednesday, January 24th that authorizes the company to repurchase 5,000,000 shares. This repurchase authorization authorizes the bank to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 9th will be given a $0.17 dividend. This is an increase from Washington Federal’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $0.68 dividend on an annualized basis and a yield of 1.94%. Washington Federal’s dividend payout ratio is presently 32.85%.
A number of equities research analysts have recently issued reports on WAFD shares. ValuEngine upgraded shares of Washington Federal from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. DA Davidson reaffirmed a “hold” rating and set a $39.00 price objective on shares of Washington Federal in a research report on Thursday, January 18th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $38.00 target price on shares of Washington Federal in a research report on Thursday, January 18th. BidaskClub cut shares of Washington Federal from a “hold” rating to a “sell” rating in a research report on Wednesday, January 31st. Finally, Royal Bank of Canada restated a “hold” rating and issued a $36.00 target price on shares of Washington Federal in a research report on Friday, October 20th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $37.40.
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About Washington Federal
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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