Hennessy Advisors Inc. Sells 14,000 Shares of WaFd, Inc. $WAFD

Hennessy Advisors Inc. lowered its stake in WaFd, Inc. (NASDAQ:WAFD – Free Report) by 12.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 96,000 shares of the bank’s stock after selling 14,000 shares during the period. Hennessy Advisors Inc.’s holdings in WaFd were worth $3,684,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Empowered Funds LLC bought a new stake in WaFd in the second quarter valued at approximately $13,371,000. Public Employees Retirement System of Ohio bought a new position in shares of WaFd in the second quarter worth approximately $369,000. Corient Private Wealth LP purchased a new position in shares of WaFd in the second quarter worth $2,644,000. Bank of America Corp DE bought a new stake in WaFd in the 2nd quarter worth $34,655,000. Finally, Odyssean LLC purchased a new position in shares of WaFd in the second quarter valued at about $263,000. Institutional investors own 83.71% of the company’s stock.

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WaFd Price Performance

Shares of NASDAQ WAFD opened at $36.09 on Monday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.20. WaFd, Inc. has a 12 month low of $26.31 and a 12 month high of $39.49. The firm has a market capitalization of $2.67 billion, a PE ratio of 11.38 and a beta of 0.84. The firm has a fifty day simple moving average of $37.40 and a two-hundred day simple moving average of $34.97.

WaFd (NASDAQ:WAFD – Get Free Report) last posted its earnings results on Friday, July 17th. The bank reported $0.81 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.01). The company had revenue of $205.52 million during the quarter, compared to analysts’ expectations of $199.56 million. WaFd had a return on equity of 8.98% and a net margin of 18.47%. Equities analysts expect that WaFd, Inc. will post 3.21 earnings per share for the current year.

WaFd Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Friday, August 21st will be given a $0.27 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $1.08 annualized dividend and a dividend yield of 3.0%. WaFd’s dividend payout ratio is currently 34.07%.

Analyst Upgrades and Downgrades

WAFD has been the subject of several recent analyst reports. DA Davidson upped their price objective on shares of WaFd from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Weiss Ratings reissued a “buy (b)” rating on shares of WaFd in a research note on Wednesday, August 19th. Finally, Zacks Research downgraded WaFd from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $37.00.

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WaFd Company Profile

(Free Report)

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.

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