Harbour Investment Management LLC bought a new position in Washington Federal Inc. (NASDAQ:WAFD) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 59,997 shares of the bank’s stock, valued at approximately $2,055,000.
Several other institutional investors have also bought and sold shares of WAFD. Wells Fargo & Company MN increased its holdings in shares of Washington Federal by 7.1% in the 2nd quarter. Wells Fargo & Company MN now owns 235,905 shares of the bank’s stock worth $7,832,000 after purchasing an additional 15,684 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Washington Federal by 3.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 10,916 shares of the bank’s stock worth $363,000 after purchasing an additional 380 shares in the last quarter. Thrivent Financial For Lutherans increased its holdings in shares of Washington Federal by 7.8% in the 2nd quarter. Thrivent Financial For Lutherans now owns 18,147 shares of the bank’s stock worth $602,000 after purchasing an additional 1,310 shares in the last quarter. New York State Common Retirement Fund increased its holdings in shares of Washington Federal by 0.6% in the 2nd quarter. New York State Common Retirement Fund now owns 262,025 shares of the bank’s stock worth $8,699,000 after purchasing an additional 1,499 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its holdings in shares of Washington Federal by 1.1% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 58,058 shares of the bank’s stock worth $1,928,000 after purchasing an additional 652 shares in the last quarter. 83.58% of the stock is owned by institutional investors and hedge funds.
A number of analysts have commented on WAFD shares. Zacks Investment Research raised Washington Federal from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Monday, October 23rd. Royal Bank of Canada reissued a “hold” rating and issued a $36.00 target price on shares of Washington Federal in a report on Friday, October 20th. ValuEngine lowered Washington Federal from a “buy” rating to a “hold” rating in a report on Saturday, November 25th. BidaskClub lowered Washington Federal from a “hold” rating to a “sell” rating in a report on Wednesday, January 31st. Finally, DA Davidson restated a “hold” rating and issued a $39.00 price target on shares of Washington Federal in a research note on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $37.40.
Washington Federal Inc. (WAFD) opened at $35.85 on Monday. The stock has a market capitalization of $3,082.16, a price-to-earnings ratio of 17.32, a PEG ratio of 1.47 and a beta of 1.14. Washington Federal Inc. has a 52 week low of $29.80 and a 52 week high of $37.70. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.20.
Washington Federal (NASDAQ:WAFD) last released its quarterly earnings results on Wednesday, January 17th. The bank reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.08. The firm had revenue of $122.53 million for the quarter, compared to the consensus estimate of $124.98 million. Washington Federal had a return on equity of 9.14% and a net margin of 30.20%. research analysts predict that Washington Federal Inc. will post 2.44 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Friday, February 9th will be paid a $0.17 dividend. This is an increase from Washington Federal’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date is Thursday, February 8th. Washington Federal’s dividend payout ratio (DPR) is 28.99%.
Washington Federal declared that its board has initiated a share buyback program on Wednesday, January 24th that permits the company to repurchase 5,000,000 outstanding shares. This repurchase authorization permits the bank to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
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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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