WaFd’s (WAFD) “Hold (C)” Rating Reiterated at Weiss Ratings

Weiss Ratings reiterated their hold (c) rating on shares of WaFd (NASDAQ:WAFD) in a research report sent to investors on Wednesday morning,Weiss Ratings reports.

Several other brokerages also recently issued reports on WAFD. Wall Street Zen upgraded WaFd from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. DA Davidson boosted their price objective on WaFd from $29.00 to $33.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Piper Sandler upped their target price on WaFd from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Stephens upped their target price on WaFd from $32.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Monday, July 21st. Finally, Keefe, Bruyette & Woods upped their target price on WaFd from $30.00 to $32.00 and gave the stock a “market perform” rating in a research report on Monday, July 21st. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, WaFd currently has an average rating of “Hold” and a consensus target price of $32.25.

WaFd Stock Performance

Shares of NASDAQ WAFD opened at $28.61 on Wednesday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.71. The stock has a 50 day simple moving average of $30.72 and a 200-day simple moving average of $29.41. The company has a market cap of $2.25 billion, a PE ratio of 10.88 and a beta of 0.88. WaFd has a 12-month low of $23.75 and a 12-month high of $38.62.

WaFd (NASDAQ:WAFD) last issued its quarterly earnings data on Thursday, July 17th. The bank reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.06. The business had revenue of $186.26 million during the quarter, compared to the consensus estimate of $184.47 million. WaFd had a return on equity of 8.57% and a net margin of 15.57%. On average, equities research analysts forecast that WaFd will post 2.56 EPS for the current year.

WaFd Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $1.08 annualized dividend and a dividend yield of 3.8%. WaFd’s dividend payout ratio is currently 41.06%.

Insider Activity

In other WaFd news, Director Sean Singleton sold 1,004 shares of the company’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $31.71, for a total value of $31,836.84. Following the transaction, the director owned 9,278 shares of the company’s stock, valued at approximately $294,205.38. This represents a 9.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.46% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of WAFD. Brooklyn Investment Group bought a new position in shares of WaFd in the first quarter valued at $28,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of WaFd by 42.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,174 shares of the bank’s stock valued at $34,000 after buying an additional 352 shares in the last quarter. McIlrath & Eck LLC increased its holdings in shares of WaFd by 57.6% in the second quarter. McIlrath & Eck LLC now owns 1,327 shares of the bank’s stock valued at $39,000 after buying an additional 485 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of WaFd by 712.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,901 shares of the bank’s stock valued at $56,000 after purchasing an additional 1,667 shares in the last quarter. Finally, TD Private Client Wealth LLC lifted its holdings in shares of WaFd by 35.2% in the first quarter. TD Private Client Wealth LLC now owns 2,002 shares of the bank’s stock valued at $57,000 after purchasing an additional 521 shares in the last quarter. Institutional investors own 83.71% of the company’s stock.

WaFd Company Profile

WaFd, Inc operates as the bank holding company for Washington Federal Bank that provides lending, depository, insurance, and other banking services in the United States. The company offers deposit products, including business and personal checking accounts, and term certificates of deposit, as well as money market accounts and passbook savings accounts.