Washington Federal (NASDAQ:WAFD) had its price target trimmed by DA Davidson from $39.00 to $36.00 in a report published on Thursday. The brokerage currently has a neutral rating on the bank’s stock.
A number of other analysts have also commented on WAFD. Piper Jaffray reaffirmed a hold rating and set a $35.00 price objective on shares of Washington Federal in a research note on Thursday. Royal Bank of Canada reaffirmed a hold rating and set a $36.00 price objective on shares of Washington Federal in a research note on Thursday. ValuEngine lowered shares of Washington Federal from a buy rating to a hold rating in a research note on Monday, April 2nd. BidaskClub raised shares of Washington Federal from a sell rating to a hold rating in a research note on Tuesday, February 6th. Finally, Zacks Investment Research lowered shares of Washington Federal from a strong-buy rating to a hold rating in a research note on Tuesday, March 20th. Seven research analysts have rated the stock with a hold rating, The company currently has an average rating of Hold and a consensus price target of $37.00.
WAFD stock traded down $0.33 during mid-day trading on Thursday, reaching $32.27. 291,753 shares of the stock traded hands, compared to its average volume of 481,600. 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 has a 52-week low of $29.80 and a 52-week high of $37.70. The firm has a market capitalization of $2,813.67, a PE ratio of 16.80, a P/E/G ratio of 1.36 and a beta of 1.14.
Washington Federal (NASDAQ:WAFD) last posted its quarterly earnings data on Wednesday, April 11th. The bank reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.02). Washington Federal had a net margin of 30.61% and a return on equity of 9.50%. The firm had revenue of $129.89 million for the quarter, compared to analysts’ expectations of $131.87 million. During the same period in the prior year, the company posted $0.47 earnings per share. equities research analysts anticipate that Washington Federal will post 2.44 earnings per share 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 repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Profund Advisors LLC lifted its position in shares of Washington Federal by 12.2% in the fourth quarter. Profund Advisors LLC now owns 15,543 shares of the bank’s stock worth $532,000 after purchasing an additional 1,695 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Washington Federal by 42.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,877 shares of the bank’s stock worth $201,000 after purchasing an additional 1,760 shares in the last quarter. M&T Bank Corp lifted its position in shares of Washington Federal by 24.2% in the fourth quarter. M&T Bank Corp now owns 9,291 shares of the bank’s stock worth $317,000 after purchasing an additional 1,812 shares in the last quarter. Flinton Capital Management LLC lifted its position in shares of Washington Federal by 15.1% in the fourth quarter. Flinton Capital Management LLC now owns 15,266 shares of the bank’s stock worth $523,000 after purchasing an additional 2,006 shares in the last quarter. Finally, ING Groep NV lifted its position in shares of Washington Federal by 21.1% in the fourth quarter. ING Groep NV now owns 13,157 shares of the bank’s stock worth $451,000 after purchasing an additional 2,288 shares in the last quarter. 84.52% of the stock is owned by institutional investors and hedge funds.
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About Washington Federal
Washington Federal, Inc operates as the bank holding company for Washington Federal, National Association that provides lending, depository, insurance, and other banking services to consumers, mid-sized and large businesses, and owners and developers of commercial real estate in the United States. The company accepts deposit products, such as business and personal checking accounts, and term certificates of deposit, as well as money market accounts and passbook savings accounts.
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