WaFd (NASDAQ:WAFD) Given New $37.00 Price Target at DA Davidson

WaFd (NASDAQ:WAFD – Get Free Report) had its target price reduced by DA Davidson from $40.00 to $37.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the bank’s stock. DA Davidson’s price target would suggest a potential upside of 9.66% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on WAFD. Weiss Ratings cut shares of WaFd from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, September 3rd. Zacks Research downgraded WaFd from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, WaFd currently has a consensus rating of “Hold” and a consensus price target of $36.25.

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WaFd Trading Down 1.6%

Shares of WaFd stock traded down $0.54 on Wednesday, hitting $33.74. The stock had a trading volume of 709,906 shares, compared to its average volume of 626,513. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.20. WaFd has a one year low of $26.31 and a one year high of $39.49. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of 10.65 and a beta of 0.83. The stock’s 50-day simple moving average is $37.11 and its two-hundred day simple moving average is $35.10.

WaFd (NASDAQ:WAFD – Get Free Report) last posted its quarterly earnings results on Friday, July 17th. The bank reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.01). The firm had revenue of $205.52 million for the quarter, compared to the consensus estimate of $199.56 million. WaFd had a net margin of 18.47% and a return on equity of 8.98%. As a group, sell-side analysts predict that WaFd will post 3.23 EPS for the current year.

Hedge Funds Weigh In On WaFd

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC purchased a new position in WaFd during the 2nd quarter valued at about $26,000. Squarepoint Ops LLC purchased a new stake in shares of WaFd in the 2nd quarter worth approximately $308,000. Nykredit A S bought a new position in WaFd during the 2nd quarter valued at approximately $52,000. Corient Private Wealth LP raised its stake in WaFd by 26.3% during the second quarter. Corient Private Wealth LP now owns 68,899 shares of the bank’s stock valued at $2,644,000 after buying an additional 14,326 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in WaFd in the second quarter worth $376,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

WaFd News Summary

Here are the key news stories impacting WaFd this week:

• Positive Sentiment: Merger targets substantial earnings growth. WaFd and EverBank expect the transaction to be approximately 29% accretive to earnings per share in 2027, which could improve WaFd shareholders’ long-term returns. WaFd’s EverBank Merger Deal: A Boost to Earnings & Scale?
• Positive Sentiment: Greater scale and diversification. The combined bank is expected to have roughly $75 billion in assets, a broader deposit base and a more diversified commercial-banking platform. The deal would combine EverBank’s digital capabilities with WaFd’s Pacific Northwest branch network. EverBank-WaFd Deal Bridges Banking’s Digital and Branch Divide
• Positive Sentiment: WaFd holders retain a meaningful stake. Upon closing, WaFd shareholders are expected to own approximately 40.8% of the combined company, allowing them to participate in potential benefits from the larger institution. WaFd, Inc. Enters into a $3.9 Billion Reverse Merger Transaction with EverBank Financial Corp
• Neutral Sentiment: Completion remains subject to conditions. Investors are evaluating management’s transaction rationale and integration plans, with the merger still requiring regulatory and shareholder approvals. WaFd, Inc. M&A Call Transcript
• Negative Sentiment: Shareholder law firms are investigating the transaction. Halper Sadeh and Monteverde & Associates announced reviews of whether WaFd shareholders are receiving fair consideration. Such investigations could create legal costs, delay or additional uncertainty around closing, although they do not establish wrongdoing. WAFD Stock Alert: Halper Sadeh Investigation

About WaFd

(Get 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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