Sprucegrove Investment Management Ltd. decreased its position in shares of Washington Federal, Inc. (NASDAQ:WAFD) by 22.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 523,195 shares of the bank’s stock after selling 150,200 shares during the period. Washington Federal makes up approximately 1.0% of Sprucegrove Investment Management Ltd.’s investment portfolio, making the stock its 19th biggest position. Sprucegrove Investment Management Ltd. owned 0.59% of Washington Federal worth $17,370,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. BlackRock Inc. grew its position in shares of Washington Federal by 16,855.9% during the first quarter. BlackRock Inc. now owns 9,559,901 shares of the bank’s stock valued at $316,434,000 after purchasing an additional 9,503,520 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Washington Federal by 0.5% during the first quarter. Vanguard Group Inc. now owns 9,365,735 shares of the bank’s stock valued at $310,006,000 after purchasing an additional 48,928 shares in the last quarter. FMR LLC grew its position in shares of Washington Federal by 7.4% during the second quarter. FMR LLC now owns 8,016,631 shares of the bank’s stock valued at $266,152,000 after purchasing an additional 549,742 shares in the last quarter. State Street Corp grew its position in shares of Washington Federal by 8.4% during the first quarter. State Street Corp now owns 3,619,821 shares of the bank’s stock valued at $119,814,000 after purchasing an additional 281,548 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Washington Federal by 12.8% during the second quarter. Northern Trust Corp now owns 3,039,627 shares of the bank’s stock valued at $100,916,000 after purchasing an additional 343,912 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.
A number of research analysts have recently weighed in on WAFD shares. Zacks Investment Research upgraded Washington Federal from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Tuesday, May 30th. BidaskClub upgraded Washington Federal from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $34.00 price objective on shares of Washington Federal in a research report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $33.50.
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In related news, Director Thomas J. Kelley sold 6,100 shares of the company’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $33.72, for a total transaction of $205,692.00. Following the completion of the sale, the director now owns 21,185 shares of the company’s stock, valued at approximately $714,358.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.28% of the stock is currently owned by corporate insiders.
Washington Federal, Inc. (NASDAQ:WAFD) traded up 0.381% on Monday, reaching $32.975. The company had a trading volume of 72,474 shares. The firm has a market capitalization of $2.92 billion, a P/E ratio of 17.346 and a beta of 1.13. Washington Federal, Inc. has a 1-year low of $25.15 and a 1-year high of $35.95. The company’s 50-day moving average price is $31.85 and its 200 day moving average price is $32.80.
Washington Federal (NASDAQ:WAFD) last released its quarterly earnings results on Tuesday, July 18th. The bank reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.02. Washington Federal had a net margin of 29.06% and a return on equity of 8.57%. The firm had revenue of $122.54 million during the quarter, compared to the consensus estimate of $120.35 million. On average, equities analysts forecast that Washington Federal, Inc. will post $1.91 EPS for the current year.
About Washington Federal
Washington Federal, Inc is a bank holding company. The Company conducts its operations through a federally insured national bank subsidiary, Washington Federal, National Association (the Bank). The business of the Bank consists primarily of accepting deposits from the general public and investing these funds in loans of various types, including first lien mortgages on single-family dwellings, construction loans, land acquisition and development loans, loans on multi-family, commercial real estate and other income producing properties, home equity loans and business loans.
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