Equities analysts expect Washington Federal Inc. (NASDAQ:WAFD) to report sales of $131.70 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Washington Federal’s earnings. The highest sales estimate is $133.20 million and the lowest is $130.30 million. Washington Federal posted sales of $122.54 million in the same quarter last year, which suggests a positive year over year growth rate of 7.5%. The business is expected to issue its next quarterly earnings report on Tuesday, July 17th.
According to Zacks, analysts expect that Washington Federal will report full-year sales of $519.67 million for the current fiscal year, with estimates ranging from $517.70 million to $521.30 million. For the next year, analysts expect that the firm will post sales of $548.00 million per share, with estimates ranging from $534.80 million to $555.40 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Washington Federal.
Washington Federal (NASDAQ:WAFD) last announced its earnings results on Wednesday, April 11th. The bank reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.02). Washington Federal had a net margin of 30.61% and a return on equity of 9.53%. The company had revenue of $129.89 million for the quarter, compared to the consensus estimate of $131.87 million. During the same quarter in the previous year, the firm earned $0.47 earnings per share.
Several equities research analysts have issued reports on WAFD shares. ValuEngine upgraded shares of Washington Federal from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. BidaskClub lowered shares of Washington Federal from a “hold” rating to a “sell” rating in a research report on Friday, January 5th. DA Davidson reiterated a “hold” rating and set a $39.00 target price on shares of Washington Federal in a research report on Thursday, January 18th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $38.00 target price on shares of Washington Federal in a research report on Thursday, January 18th. Finally, Zacks Investment Research lowered shares of Washington Federal from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 20th. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $37.00.
Washington Federal stock traded up $0.10 during mid-day trading on Wednesday, hitting $32.15. 672,594 shares of the company traded hands, compared to its average volume of 635,836. Washington Federal has a one year low of $29.80 and a one year high of $37.70. The firm has a market cap of $2,716.21, a PE ratio of 16.57, a PEG ratio of 1.36 and a beta of 1.14. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.02 and a quick ratio of 1.03.
Washington Federal announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 24th that authorizes the company to buyback 5,000,000 shares. This buyback authorization authorizes the bank to repurchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.
A number of institutional investors have recently made changes to their positions in WAFD. Acadian Asset Management LLC bought a new stake in shares of Washington Federal during the fourth quarter worth $199,000. Balentine LLC bought a new stake in shares of Washington Federal during the fourth quarter worth $200,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position 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 worth $201,000 after purchasing an additional 1,760 shares during the last quarter. Ramsey Quantitative Systems bought a new stake in shares of Washington Federal in the fourth quarter valued at about $239,000. Finally, Zeke Capital Advisors LLC bought a new stake in shares of Washington Federal in the fourth quarter valued at about $245,000. Institutional investors and hedge funds own 84.38% of the company’s stock.
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Washington Federal Company Profile
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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