California State Teachers Retirement System cut its stake in Washington Federal, Inc. (NASDAQ:WAFD) by 10.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 141,769 shares of the bank’s stock after selling 16,732 shares during the quarter. California State Teachers Retirement System owned approximately 0.16% of Washington Federal worth $4,771,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in WAFD. Russell Investments Group Ltd. grew its holdings in Washington Federal by 41.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 47,060 shares of the bank’s stock valued at $1,562,000 after buying an additional 13,863 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Washington Federal by 3.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 547,660 shares of the bank’s stock valued at $18,183,000 after acquiring an additional 17,917 shares during the period. Bank of New York Mellon Corp raised its position in Washington Federal by 6.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,226,347 shares of the bank’s stock valued at $40,714,000 after purchasing an additional 70,838 shares in the last quarter. Legal & General Group Plc raised its position in Washington Federal by 9.5% in the 2nd quarter. Legal & General Group Plc now owns 105,049 shares of the bank’s stock valued at $3,490,000 after purchasing an additional 9,098 shares in the last quarter. Finally, Comerica Bank raised its position in shares of Washington Federal by 0.5% during the 2nd quarter. Comerica Bank now owns 69,384 shares of the bank’s stock worth $2,331,000 after acquiring an additional 329 shares in the last quarter. 83.23% of the stock is owned by institutional investors.
A number of analysts recently weighed in on WAFD shares. ValuEngine downgraded Washington Federal from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. Zacks Investment Research raised Washington Federal from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Monday, October 23rd. Royal Bank of Canada reissued a “hold” rating and issued a $35.00 price target on shares of Washington Federal in a report on Friday, September 8th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $34.00 target price on shares of Washington Federal in a research note on Friday, October 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $36.00.
Washington Federal (NASDAQ:WAFD) last released its earnings results on Wednesday, October 18th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.03. Washington Federal had a return on equity of 8.63% and a net margin of 28.87%. The company had revenue of $128.69 million during the quarter, compared to analyst estimates of $121.46 million. research analysts predict that Washington Federal, Inc. will post 2.07 earnings per share for the current fiscal year.
Washington Federal 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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