Washington Federal Inc. (NASDAQ:WAFD) declared a quarterly dividend on Monday, October 22nd, NASDAQ reports. Investors of record on Friday, November 9th will be paid a dividend of 0.18 per share by the bank on Friday, November 23rd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Thursday, November 8th.
Washington Federal has raised its dividend by an average of 9.5% annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Washington Federal has a dividend payout ratio of 30.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Washington Federal to earn $2.67 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 27.0%.
Shares of WAFD traded up $0.07 during trading hours on Friday, reaching $27.99. The stock had a trading volume of 412,637 shares, compared to its average volume of 607,974. Washington Federal has a 12 month low of $26.66 and a 12 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 1.17. The stock has a market cap of $2.35 billion, a P/E ratio of 11.66, a P/E/G ratio of 1.61 and a beta of 1.15.
Washington Federal (NASDAQ:WAFD) last issued its earnings results on Tuesday, October 16th. The bank reported $0.62 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.62. Washington Federal had a return on equity of 10.22% and a net margin of 31.31%. The company had revenue of $131.50 million for the quarter, compared to analysts’ expectations of $133.83 million. During the same period last year, the business earned $0.52 EPS. On average, analysts expect that Washington Federal will post 2.5 EPS for the current year.
A number of equities analysts recently issued reports on the company. BidaskClub cut Washington Federal from a “buy” rating to a “hold” rating in a report on Wednesday, August 29th. ValuEngine upgraded Washington Federal from a “sell” rating to a “hold” rating in a report on Tuesday, August 14th. Zacks Investment Research cut Washington Federal from a “hold” rating to a “sell” rating in a report on Friday, July 20th. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $35.00 target price on shares of Washington Federal in a report on Friday, July 20th. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $36.20.
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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