State Treasurer State of Michigan reduced its position in shares of Washington Federal Inc. (NASDAQ:WAFD) by 6.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 31,323 shares of the bank’s stock after selling 2,100 shares during the period. State Treasurer State of Michigan’s holdings in Washington Federal were worth $1,073,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of WAFD. Public Employees Retirement System of Ohio boosted its holdings in shares of Washington Federal by 1.1% during the second quarter. Public Employees Retirement System of Ohio now owns 5,522 shares of the bank’s stock worth $183,000 after purchasing an additional 62 shares during the period. Acadian Asset Management LLC purchased a new stake in Washington Federal in the fourth quarter worth about $199,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Washington Federal by 42.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,877 shares of the bank’s stock worth $201,000 after buying an additional 1,760 shares during the period. Koch Industries Inc. purchased a new stake in Washington Federal in the second quarter worth about $213,000. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in Washington Federal by 1.9% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 6,641 shares of the bank’s stock worth $220,000 after buying an additional 127 shares during the period. Institutional investors own 83.11% of the company’s stock.
Several analysts have commented on the stock. BidaskClub upgraded shares of Washington Federal from a “sell” rating to a “hold” rating in a report on Tuesday, January 16th. Zacks Investment Research upgraded shares of Washington Federal from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Monday, October 23rd. ValuEngine lowered shares of Washington Federal from a “buy” rating to a “hold” rating in a report on Saturday, November 25th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $38.00 price objective on shares of Washington Federal in a report on Thursday, January 18th. Finally, DA Davidson restated a “hold” rating and issued a $39.00 price objective on shares of Washington Federal in a report on Thursday, January 18th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $37.40.
Washington Federal (NASDAQ:WAFD) last released its earnings results on Wednesday, January 17th. The bank reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.08. Washington Federal had a net margin of 30.20% and a return on equity of 9.14%. The firm had revenue of $122.53 million during the quarter, compared to analyst estimates of $124.98 million. equities analysts anticipate that Washington Federal Inc. will post 2.44 EPS for the current fiscal year.
Washington Federal declared that its board has initiated a stock buyback plan on Wednesday, January 24th that allows the company to buyback 5,000,000 shares. This buyback authorization allows the bank to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Friday, February 9th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.87%. This is a positive change from Washington Federal’s previous quarterly dividend of $0.15. The ex-dividend date is Thursday, February 8th. Washington Federal’s dividend payout ratio (DPR) is presently 32.85%.
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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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