Zacks Research cut shares of WaFd (NASDAQ:WAFD – Free Report) from a strong-buy rating to a hold rating in a research note published on Tuesday,Zacks reports.
A number of other equities research analysts have also weighed in on the company. Piper Sandler lowered their price objective on WaFd from $32.00 to $31.00 and set a “neutral” rating on the stock in a report on Monday, October 19th. Keefe, Bruyette & Woods dropped their target price on WaFd from $40.00 to $34.00 and set a “market perform” rating on the stock in a research report on Monday, October 19th. Weiss Ratings downgraded WaFd from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, October 19th. Finally, DA Davidson set a $31.00 price target on WaFd in a report on Monday, October 19th. Five analysts have rated the stock with a Hold rating. According to data from MarketBeat, WaFd currently has a consensus rating of “Hold” and an average price target of $32.50.
Check Out Our Latest Report on WAFD
WaFd Stock Up 1.2%
WAFD stock opened at $30.13 on Tuesday. WaFd has a one year low of $28.10 and a one year high of $39.49. The stock has a market capitalization of $2.23 billion, a PE ratio of 9.39 and a beta of 0.90. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.92 and a current ratio of 0.94. The company has a fifty day moving average of $31.47 and a 200-day moving average of $33.89.
WaFd (NASDAQ:WAFD – Get Free Report) last issued its quarterly earnings results on Thursday, October 15th. The bank reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. The business had revenue of $220.44 million for the quarter, compared to analyst estimates of $203.66 million. WaFd had a net margin of 18.04% and a return on equity of 9.37%. As a group, analysts expect that WaFd will post 3.34 EPS for the current year.
WaFd Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 4th. Investors of record on Friday, August 21st were paid a $0.27 dividend. The ex-dividend date was Friday, August 21st. This represents a $1.08 annualized dividend and a dividend yield of 3.6%. WaFd’s dividend payout ratio (DPR) is 33.64%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of WaFd during the second quarter valued at $413,410,000. Bank of America Corp DE acquired a new position in WaFd in the 2nd quarter valued at about $34,655,000. Bank of New York Mellon Corp acquired a new position in WaFd in the 2nd quarter valued at about $26,489,000. Principal Financial Group Inc. lifted its holdings in WaFd by 34.4% in the 1st quarter. Principal Financial Group Inc. now owns 504,529 shares of the bank’s stock valued at $15,842,000 after purchasing an additional 129,041 shares in the last quarter. Finally, Empowered Funds LLC purchased a new position in WaFd in the 2nd quarter valued at about $13,371,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.
About WaFd
WaFd, Inc (NASDAQ: WAFD) is the parent company of WaFd Bank, a regional financial institution that provides banking and lending services to individuals, families, businesses and real estate investors. The bank offers deposit accounts, checking and savings products, residential mortgages, home equity loans, commercial real estate financing, business loans and construction lending.
WaFd Bank also provides treasury management and cash-management services for businesses, along with personal and commercial banking solutions through its branch network and digital banking platforms.
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