Texas Permanent School Fund Boosts Position in Washington Federal, Inc. (WAFD)
Texas Permanent School Fund boosted its stake in shares of Washington Federal, Inc. (NASDAQ:WAFD) by 1.0% during the second quarter, Holdings Channel reports. The institutional investor owned 65,300 shares of the bank’s stock after buying an additional 667 shares during the period. Texas Permanent School Fund’s holdings in Washington Federal were worth $2,168,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in WAFD. Liberty Mutual Group Asset Management Inc. increased its position in Washington Federal by 5.1% in the first quarter. Liberty Mutual Group Asset Management Inc. now owns 39,359 shares of the bank’s stock valued at $1,303,000 after buying an additional 1,926 shares in the last quarter. Lazard Asset Management LLC purchased a new position in Washington Federal during the first quarter valued at $12,241,000. Oregon Public Employees Retirement Fund increased its position in Washington Federal by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 31,665 shares of the bank’s stock valued at $1,048,000 after buying an additional 400 shares in the last quarter. State of Tennessee Treasury Department purchased a new position in Washington Federal during the first quarter valued at $6,289,000. Finally, Nordea Investment Management AB increased its position in Washington Federal by 3.5% in the first quarter. Nordea Investment Management AB now owns 45,190 shares of the bank’s stock valued at $1,496,000 after buying an additional 1,536 shares in the last quarter. 83.94% of the stock is owned by institutional investors.
Washington Federal, Inc. (NASDAQ WAFD) opened at 32.45 on Friday. The stock’s 50 day moving average price is $33.26 and its 200-day moving average price is $33.27. The firm has a market capitalization of $2.87 billion, a P/E ratio of 17.07 and a beta of 1.12. Washington Federal, Inc. has a 12 month low of $25.08 and a 12 month high of $35.95.
Washington Federal (NASDAQ:WAFD) last released its quarterly earnings data on Tuesday, July 18th. The bank reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. The company had revenue of $122.54 million for the quarter, compared to the consensus estimate of $120.35 million. Washington Federal had a return on equity of 8.57% and a net margin of 29.06%. On average, analysts forecast that Washington Federal, Inc. will post $1.91 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 18th. Stockholders of record on Friday, August 4th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, August 2nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.85%. Washington Federal’s dividend payout ratio (DPR) is 31.41%.
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WAFD has been the subject of several research reports. Zacks Investment Research raised Washington Federal from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research report on Monday, June 5th. BidaskClub downgraded Washington Federal from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. Piper Jaffray Companies reaffirmed a “neutral” rating and issued a $30.00 target price (down from $32.00) on shares of Washington Federal in a research report on Monday, April 17th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $34.00 target price on shares of Washington Federal in a research report on Wednesday, May 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $34.00.
In other news, Director Anna C. Johnson sold 4,200 shares of the stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $32.25, for a total value of $135,450.00. Following the completion of the sale, the director now owns 28,590 shares in the company, valued at $922,027.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Thomas J. Kelley sold 6,100 shares of the stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $33.72, for a total value of $205,692.00. Following the completion of the sale, the director now owns 21,185 shares of the company’s stock, valued at approximately $714,358.20. The disclosure for this sale can be found here. Company insiders own 1.28% of the company’s stock.
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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