WaFd (NASDAQ:WAFD) Issues Quarterly Earnings Results, Misses Estimates By $0.01 EPS

WaFd (NASDAQ:WAFD) issued its earnings results on Thursday. The bank reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.01), Zacks reports. The firm had revenue of $191.37 million during the quarter, compared to analysts’ expectations of $193.36 million. WaFd had a return on equity of 8.40% and a net margin of 16.02%.

WaFd Stock Down 4.0%

Shares of NASDAQ:WAFD traded down $1.34 during trading on Friday, hitting $32.39. The company’s stock had a trading volume of 968,974 shares, compared to its average volume of 463,386. The company has a market capitalization of $2.48 billion, a PE ratio of 12.27 and a beta of 0.86. The business has a 50 day moving average price of $32.28 and a two-hundred day moving average price of $30.96. WaFd has a fifty-two week low of $23.75 and a fifty-two week high of $33.92. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.96 and a current ratio of 0.96.

WaFd Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Friday, November 21st were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, November 21st. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.3%. WaFd’s payout ratio is presently 40.91%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on WAFD shares. Keefe, Bruyette & Woods cut their target price on shares of WaFd from $32.00 to $31.00 and set a “market perform” rating for the company in a report on Monday, October 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of WaFd in a research report on Monday, December 29th. Finally, Wall Street Zen upgraded WaFd from a “sell” rating to a “hold” rating in a research report on Saturday. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat, WaFd presently has an average rating of “Hold” and an average target price of $32.00.

Insiders Place Their Bets

In related news, CEO Brent J. Beardall acquired 3,000 shares of WaFd stock in a transaction dated Wednesday, December 3rd. The stock was acquired at an average price of $16.85 per share, for a total transaction of $50,550.00. Following the transaction, the chief executive officer owned 6,000 shares of the company’s stock, valued at $101,100. This represents a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.49% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On WaFd

A number of institutional investors and hedge funds have recently made changes to their positions in WAFD. Ameriprise Financial Inc. boosted its holdings in WaFd by 11.8% during the third quarter. Ameriprise Financial Inc. now owns 1,375,110 shares of the bank’s stock worth $41,652,000 after buying an additional 145,646 shares in the last quarter. Millennium Management LLC boosted its position in WaFd by 1,533.5% during the third quarter. Millennium Management LLC now owns 146,578 shares of the bank’s stock worth $4,440,000 after purchasing an additional 137,605 shares in the last quarter. Citadel Advisors LLC grew its holdings in WaFd by 206.4% in the third quarter. Citadel Advisors LLC now owns 179,650 shares of the bank’s stock valued at $5,442,000 after purchasing an additional 121,009 shares during the last quarter. Sei Investments Co. increased its position in shares of WaFd by 360.0% in the second quarter. Sei Investments Co. now owns 131,457 shares of the bank’s stock valued at $3,849,000 after buying an additional 102,879 shares in the last quarter. Finally, Jane Street Group LLC increased its position in shares of WaFd by 862.6% in the first quarter. Jane Street Group LLC now owns 69,306 shares of the bank’s stock valued at $1,981,000 after buying an additional 62,106 shares in the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

About WaFd

Washington Federal, Inc, doing business as WaFd Bank, is a publicly traded bank holding company headquartered in Seattle, Washington. Through its subsidiary, WaFd Bank, the company provides a range of banking and financial services to individuals, small-to-medium enterprises, and commercial clients. Established in 1917 as Ballard Savings & Loan in Seattle, the institution expanded over decades to serve customers across the Western United States under the Washington Federal name and has operated as a public company since the early 1980s.

WaFd Bank’s core offerings encompass deposit accounts such as checking, savings, money market, and certificates of deposit, alongside consumer and commercial lending products.