Washington Federal (WAFD) – Analysts’ Recent Ratings Changes

A number of research firms have changed their ratings and price targets for Washington Federal (NASDAQ: WAFD):

  • 4/16/2018 – Washington Federal was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Shares of Washington Federal have underperformed the industry over the past six months. The company’s second-quarter fiscal 2018 (ended Mar 31) results were adversely impacted by higher expenses. In fact, this remains a major concern for the bank as operating expenses are expected to continue rising, given the integration charges and its efforts to upgrade and digitize operations. While the company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in three of the trailing four quarters and is well positioned to benefit from continued growth in loans as well a rising rate scenario, significant exposure to risky loan portfolios makes us apprehensive.”
  • 4/12/2018 – Washington Federal had its price target lowered by analysts at DA Davidson from $39.00 to $36.00. They now have a “neutral” rating on the stock.
  • 4/12/2018 – Washington Federal had its “hold” rating reaffirmed by analysts at Piper Jaffray. They now have a $35.00 price target on the stock.
  • 4/12/2018 – Washington Federal had its “hold” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $36.00 price target on the stock.
  • 4/2/2018 – Washington Federal was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 3/20/2018 – Washington Federal was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “Shares of Washington Federal have outperformed the industry over the past six months. The performance was supported by the company’s impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in each of the trailing four quarters. The company is well positioned to benefit from continued improvement in loan balances and a rising rate scenario. Further, the deal to acquire Anchor Bancorp is anticipated to be accretive to earnings. Also, management believes that tax reform bill will likely accelerate more investments in technology upgrades. However, persistently rising expenses might hurt bottom-line growth to some extent. Also, the company's significant exposure to risky loan portfolios continues to be a major near-term concern.”
  • 3/7/2018 – Washington Federal was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.

Shares of Washington Federal stock traded up $0.12 during trading on Tuesday, reaching $32.87. The company’s stock had a trading volume of 335,528 shares, compared to its average volume of 493,581. The stock has a market capitalization of $2,741.64, a price-to-earnings ratio of 16.94, a PEG ratio of 1.37 and a beta of 1.14. Washington Federal Inc. has a fifty-two week low of $29.80 and a fifty-two week high of $37.70. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.02 and a quick ratio of 1.03.

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Washington Federal (NASDAQ:WAFD) last announced its earnings results on Wednesday, April 11th. The bank reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.02). The business had revenue of $129.89 million during the quarter, compared to analyst estimates of $131.87 million. Washington Federal had a net margin of 30.61% and a return on equity of 9.53%. During the same period in the previous year, the firm earned $0.47 earnings per share. analysts anticipate that Washington Federal Inc. will post 2.37 earnings per share for the current year.

Large investors have recently bought and sold shares of the stock. Wells Fargo & Company MN grew its position in Washington Federal by 17.8% in the 3rd quarter. Wells Fargo & Company MN now owns 277,948 shares of the bank’s stock valued at $9,353,000 after buying an additional 42,043 shares during the last quarter. ING Groep NV grew its position in Washington Federal by 21.1% in the 4th quarter. ING Groep NV now owns 13,157 shares of the bank’s stock valued at $451,000 after buying an additional 2,288 shares during the last quarter. New Mexico Educational Retirement Board purchased a new position in Washington Federal in the 4th quarter valued at $754,000. JPMorgan Chase & Co. grew its position in Washington Federal by 487.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 311,752 shares of the bank’s stock valued at $10,584,000 after buying an additional 258,654 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in Washington Federal by 4.7% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 573,593 shares of the bank’s stock valued at $19,302,000 after buying an additional 25,933 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Washington Federal, Inc operates as the bank holding company for Washington Federal, National Association that provides lending, depository, insurance, and other banking services to consumers, mid-sized and large businesses, and owners and developers of commercial real estate in the United States. The company accepts deposit products, such as business and personal checking accounts, and term certificates of deposit, as well as money market accounts and passbook savings accounts.

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