Piper Sandler Cuts WaFd (NASDAQ:WAFD) Price Target to $30.50

WaFd (NASDAQ:WAFD) had its price target decreased by Piper Sandler from $33.50 to $30.50 in a research report sent to investors on Tuesday, MarketBeat.com reports. Piper Sandler currently has a neutral rating on the bank’s stock.

Several other research firms also recently commented on WAFD. Keefe, Bruyette & Woods boosted their price target on shares of WaFd from $31.00 to $34.00 and gave the stock a “market perform” rating in a research note on Tuesday. Weiss Ratings reiterated a “hold (c+)” rating on shares of WaFd in a report on Monday, December 29th. Finally, Wall Street Zen upgraded WaFd from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $32.90.

WaFd Stock Up 1.0%

Shares of NASDAQ:WAFD opened at $32.94 on Tuesday. The firm has a market capitalization of $2.52 billion, a PE ratio of 11.40 and a beta of 0.86. WaFd has a 1 year low of $23.75 and a 1 year high of $33.92. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.95 and a quick ratio of 0.96. The firm’s 50-day moving average is $32.42 and its two-hundred day moving average is $31.00.

WaFd (NASDAQ:WAFD) last announced its quarterly earnings data on Friday, January 16th. The bank reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.01). WaFd had a net margin of 17.45% and a return on equity of 8.67%. The business had revenue of $188.32 million during the quarter, compared to analyst estimates of $193.36 million. Analysts predict that WaFd will post 2.56 EPS for the current year.

WaFd Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Friday, November 21st were issued a $0.27 dividend. The ex-dividend date was Friday, November 21st. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.3%. WaFd’s dividend payout ratio is presently 37.37%.

Insider Buying and Selling at WaFd

In other WaFd news, CEO Brent J. Beardall bought 3,000 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were acquired at an average price of $16.85 per share, with a total value of $50,550.00. Following the transaction, the chief executive officer owned 6,000 shares of the company’s stock, valued at approximately $101,100. The trade was a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.49% of the company’s stock.

Hedge Funds Weigh In On WaFd

Hedge funds have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. raised its holdings in WaFd by 42.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,174 shares of the bank’s stock worth $34,000 after purchasing an additional 352 shares in the last quarter. McIlrath & Eck LLC grew its position in shares of WaFd by 57.6% in the 2nd quarter. McIlrath & Eck LLC now owns 1,327 shares of the bank’s stock valued at $39,000 after buying an additional 485 shares during the last quarter. Hantz Financial Services Inc. raised its stake in WaFd by 604.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,423 shares of the bank’s stock worth $43,000 after acquiring an additional 1,221 shares in the last quarter. Danske Bank A S acquired a new stake in WaFd during the 3rd quarter worth $51,000. Finally, Blue Trust Inc. lifted its position in WaFd by 36.0% in the third quarter. Blue Trust Inc. now owns 1,837 shares of the bank’s stock valued at $56,000 after acquiring an additional 486 shares during the last quarter. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

WaFd Company Profile

Washington Federal, Inc, doing business as WaFd Bank, is a publicly traded bank holding company headquartered in Seattle, Washington. Through its subsidiary, WaFd Bank, the company provides a range of banking and financial services to individuals, small-to-medium enterprises, and commercial clients. Established in 1917 as Ballard Savings & Loan in Seattle, the institution expanded over decades to serve customers across the Western United States under the Washington Federal name and has operated as a public company since the early 1980s.

WaFd Bank’s core offerings encompass deposit accounts such as checking, savings, money market, and certificates of deposit, alongside consumer and commercial lending products.