WaFd, Inc. (NASDAQ:WAFD) Receives Average Recommendation of “Hold” from Analysts

Shares of WaFd, Inc. (NASDAQ:WAFD) have received a consensus rating of “Hold” from the five brokerages that are presently covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold rating. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $32.90.

A number of research analysts recently issued reports on WAFD shares. Keefe, Bruyette & Woods lifted their target price on WaFd from $31.00 to $34.00 and gave the stock a “market perform” rating in a report on Tuesday, January 20th. Wall Street Zen cut shares of WaFd from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of WaFd in a report on Monday, December 29th. Royal Bank Of Canada set a $34.00 price objective on WaFd in a research report on Tuesday, January 20th. Finally, Piper Sandler decreased their target price on WaFd from $33.50 to $30.50 and set a “neutral” rating on the stock in a report on Tuesday, January 20th.

WaFd Stock Up 1.1%

WAFD opened at $33.68 on Thursday. WaFd has a 12 month low of $23.75 and a 12 month high of $34.29. The stock’s 50 day moving average price is $32.65 and its 200 day moving average price is $31.14. 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 stock has a market cap of $2.57 billion, a P/E ratio of 11.63 and a beta of 0.86.

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

WaFd Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 3.2%. The ex-dividend date is Friday, February 13th. WaFd’s payout ratio is presently 37.37%.

Insider Buying and Selling

In other news, CEO Brent J. Beardall bought 3,000 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The stock was bought at an average cost of $16.85 per share, for a total transaction of $50,550.00. Following the completion of the acquisition, the chief executive officer directly owned 6,000 shares in the company, valued at $101,100. This represents a 100.00% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.49% of the company’s stock.

Hedge Funds Weigh In On WaFd

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

About WaFd

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.