Washington Federal, Inc. (NASDAQ:WAFD) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Monday, July 31st.
Several other research firms also recently issued reports on WAFD. Keefe, Bruyette & Woods restated a “hold” rating and set a $34.00 price objective on shares of Washington Federal in a report on Tuesday, July 25th. Zacks Investment Research downgraded shares of Washington Federal from a “buy” rating to a “hold” rating in a report on Friday, May 26th. Royal Bank Of Canada restated a “hold” rating and set a $35.00 price objective on shares of Washington Federal in a report on Tuesday, April 4th. Finally, Piper Jaffray Companies restated a “neutral” rating and set a $30.00 price objective (down previously from $32.00) on shares of Washington Federal in a report on Monday, April 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $34.00.
Shares of Washington Federal (NASDAQ:WAFD) traded down 1.85% during mid-day trading on Monday, reaching $31.85. 514,918 shares of the company traded hands. The stock has a market capitalization of $2.82 billion, a PE ratio of 16.75 and a beta of 1.12. The firm has a 50 day moving average of $33.24 and a 200-day moving average of $33.26. Washington Federal has a 52 week low of $25.08 and a 52 week high of $35.95.
Washington Federal (NASDAQ:WAFD) last announced its earnings results on Tuesday, July 18th. The bank reported $0.49 EPS for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.02. The business had revenue of $122.54 million during the quarter, compared to the consensus estimate of $120.35 million. Washington Federal had a net margin of 29.06% and a return on equity of 8.57%. On average, equities research analysts expect that Washington Federal will post $1.91 EPS for the current fiscal year.
In related news, Director Anna C. Johnson sold 4,200 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $32.25, for a total value of $135,450.00. Following the sale, the director now owns 28,590 shares in the company, valued at $922,027.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Thomas J. Kelley sold 6,100 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $33.72, for a total value of $205,692.00. Following the completion of the sale, the director now owns 21,185 shares in the company, valued at approximately $714,358.20. The disclosure for this sale can be found here. 1.28% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of Washington Federal by 16,855.9% in the first quarter. BlackRock Inc. now owns 9,559,901 shares of the bank’s stock worth $316,434,000 after buying an additional 9,503,520 shares in the last quarter. FMR LLC raised its stake in shares of Washington Federal by 7.4% in the second quarter. FMR LLC now owns 8,016,631 shares of the bank’s stock worth $266,152,000 after buying an additional 549,742 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Washington Federal by 124.4% in the second quarter. Principal Financial Group Inc. now owns 944,223 shares of the bank’s stock worth $31,348,000 after buying an additional 523,355 shares in the last quarter. Lazard Asset Management LLC bought a new stake in Washington Federal during the first quarter valued at approximately $12,241,000. Finally, Northern Trust Corp raised its stake in Washington Federal by 12.8% in the second quarter. Northern Trust Corp now owns 3,039,627 shares of the bank’s stock valued at $100,916,000 after buying an additional 343,912 shares in the last quarter. Hedge funds and other institutional investors own 83.94% of the company’s stock.
About Washington Federal
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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