Alps Advisors Inc. reduced its stake in Washington Federal Inc. (NASDAQ:WAFD) by 23.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,194 shares of the bank’s stock after selling 2,497 shares during the period. Alps Advisors Inc.’s holdings in Washington Federal were worth $281,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in WAFD. Public Employees Retirement System of Ohio increased its stake in shares of Washington Federal by 1.1% during the second quarter. Public Employees Retirement System of Ohio now owns 5,522 shares of the bank’s stock valued at $183,000 after buying an additional 62 shares during the period. Acadian Asset Management LLC purchased a new position in shares of Washington Federal during the fourth quarter valued at approximately $199,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Washington Federal by 42.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,877 shares of the bank’s stock valued at $201,000 after buying an additional 1,760 shares during the period. Adviser Investments LLC purchased a new position in shares of Washington Federal during the third quarter valued at approximately $222,000. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of Washington Federal by 1.9% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 6,641 shares of the bank’s stock valued at $220,000 after purchasing an additional 127 shares in the last quarter. 81.96% of the stock is currently owned by institutional investors and hedge funds.
Washington Federal Inc. (NASDAQ WAFD) traded down $0.55 during trading on Wednesday, reaching $35.80. The company’s stock had a trading volume of 286,800 shares, compared to its average volume of 432,722. Washington Federal Inc. has a twelve month low of $29.80 and a twelve month high of $37.70. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $3,125.14, a P/E ratio of 17.29, a price-to-earnings-growth ratio of 1.49 and a beta of 1.14.
Washington Federal (NASDAQ:WAFD) last posted its quarterly earnings results on Wednesday, January 17th. The bank reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.08. Washington Federal had a return on equity of 9.14% and a net margin of 30.20%. The firm had revenue of $122.53 million during the quarter, compared to analysts’ expectations of $124.98 million. equities analysts expect that Washington Federal Inc. will post 2.44 EPS for the current fiscal year.
Washington Federal declared that its board has authorized a stock buyback program on Wednesday, January 24th that allows the company to repurchase 5,000,000 shares. This repurchase authorization allows the bank to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Friday, February 9th will be paid a $0.17 dividend. The ex-dividend date is Thursday, February 8th. This represents a $0.68 annualized dividend and a dividend yield of 1.90%. This is a boost from Washington Federal’s previous quarterly dividend of $0.15. Washington Federal’s payout ratio is currently 32.85%.
Several research firms recently weighed in on WAFD. BidaskClub upgraded Washington Federal from a “sell” rating to a “hold” rating in a research report on Tuesday, February 6th. ValuEngine upgraded Washington Federal from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. DA Davidson restated a “hold” rating and set a $39.00 price target on shares of Washington Federal in a research report on Thursday, January 18th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $38.00 target price on shares of Washington Federal in a report on Thursday, January 18th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $37.40.
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Washington Federal Company Profile
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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