Washington Federal (WAFD) Lowered to Sell at BidaskClub

Washington Federal (NASDAQ:WAFD) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

A number of other equities analysts have also recently weighed in on the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $38.00 price target on shares of Washington Federal in a report on Thursday, January 18th. Zacks Investment Research cut Washington Federal from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 20th. ValuEngine raised Washington Federal from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. DA Davidson reaffirmed a “hold” rating and issued a $39.00 price target on shares of Washington Federal in a report on Thursday, January 18th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $36.00 price target on shares of Washington Federal in a report on Thursday, April 12th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $37.00.

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NASDAQ WAFD remained flat at $$32.05 during trading hours on Friday. The company had a trading volume of 81,651 shares, compared to its average volume of 501,461. The firm has a market cap of $2,720.45, a PE ratio of 16.53, a price-to-earnings-growth ratio of 1.36 and a beta of 1.14. Washington Federal has a 12 month low of $29.80 and a 12 month high of $37.70. The company has a quick ratio of 1.03, a current ratio of 1.02 and a debt-to-equity ratio of 1.17.

Washington Federal (NASDAQ:WAFD) last released its quarterly earnings results on Wednesday, April 11th. The bank reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.02). The business had revenue of $129.89 million during the quarter, compared to analyst estimates of $131.87 million. Washington Federal had a return on equity of 9.53% and a net margin of 30.61%. During the same period in the previous year, the company posted $0.47 EPS. equities analysts anticipate that Washington Federal will post 2.36 EPS for the current fiscal year.

Washington Federal announced that its board has approved a stock buyback program on Wednesday, January 24th that permits the company to buyback 5,000,000 shares. This buyback authorization permits the bank to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

A number of large investors have recently bought and sold shares of WAFD. Deutsche Bank AG increased its stake in Washington Federal by 387.0% during the 4th quarter. Deutsche Bank AG now owns 672,609 shares of the bank’s stock worth $23,034,000 after buying an additional 534,504 shares in the last quarter. Millennium Management LLC grew its position in shares of Washington Federal by 576.0% in the fourth quarter. Millennium Management LLC now owns 386,926 shares of the bank’s stock valued at $13,252,000 after purchasing an additional 329,688 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Washington Federal by 487.1% in the third quarter. JPMorgan Chase & Co. now owns 311,752 shares of the bank’s stock valued at $10,584,000 after purchasing an additional 258,654 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Washington Federal by 217.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 328,466 shares of the bank’s stock valued at $11,250,000 after purchasing an additional 225,038 shares in the last quarter. Finally, BlackRock Inc. grew its position in shares of Washington Federal by 1.9% in the fourth quarter. BlackRock Inc. now owns 9,869,149 shares of the bank’s stock valued at $338,017,000 after purchasing an additional 186,518 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

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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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