Washington Federal (NASDAQ:WAFD) has been assigned a consensus rating of “Hold” from the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $36.25.
A number of research firms have recently commented on WAFD. Zacks Investment Research downgraded Washington Federal from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 20th. ValuEngine downgraded Washington Federal from a “hold” rating to a “sell” rating in a research report on Friday, May 4th. BidaskClub downgraded Washington Federal from a “hold” rating to a “sell” rating in a research report on Friday, April 20th. DA Davidson lowered their target price on Washington Federal from $39.00 to $36.00 and set a “neutral” rating for the company in a research report on Thursday, April 12th. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $35.00 target price on shares of Washington Federal in a research report on Thursday, April 12th.
A number of large investors have recently added to or reduced their stakes in WAFD. Bank of Montreal Can raised its holdings in Washington Federal by 5.3% during the 4th quarter. Bank of Montreal Can now owns 113,641 shares of the bank’s stock valued at $3,891,000 after buying an additional 5,673 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in Washington Federal by 4.1% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 597,079 shares of the bank’s stock valued at $20,450,000 after buying an additional 23,486 shares during the period. Acadian Asset Management LLC purchased a new stake in Washington Federal during the 4th quarter valued at $199,000. Smith Graham & Co. Investment Advisors LP raised its holdings in Washington Federal by 2.0% during the 4th quarter. Smith Graham & Co. Investment Advisors LP now owns 259,580 shares of the bank’s stock valued at $8,891,000 after buying an additional 5,030 shares during the period. Finally, Foundry Partners LLC raised its holdings in Washington Federal by 2.9% during the 4th quarter. Foundry Partners LLC now owns 668,815 shares of the bank’s stock valued at $22,907,000 after buying an additional 19,086 shares during the period. Institutional investors own 86.47% of the company’s stock.
Washington Federal (NASDAQ:WAFD) last posted 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 firm had revenue of $129.89 million for the quarter, compared to the consensus estimate of $131.87 million. Washington Federal had a net margin of 30.61% and a return on equity of 9.53%. During the same quarter in the prior year, the company posted $0.47 earnings per share. equities analysts predict that Washington Federal will post 2.36 EPS for the current fiscal year.
Washington Federal announced that its board has authorized a stock buyback plan on Wednesday, January 24th that authorizes the company to buyback 5,000,000 outstanding shares. This buyback authorization authorizes the bank to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 25th. Investors of record on Friday, May 11th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, May 10th. This represents a $0.68 annualized dividend and a yield of 2.11%. Washington Federal’s payout ratio is presently 35.05%.
Washington Federal Company Profile
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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