Piper Sandler Has Lowered Expectations for WaFd (NASDAQ:WAFD) Stock Price

WaFd (NASDAQ:WAFD) had its target price lowered by Piper Sandler from $37.00 to $31.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the bank’s stock. Piper Sandler’s target price indicates a potential upside of 3.80% from the company’s previous close.

Several other equities analysts have also issued reports on WAFD. Keefe, Bruyette & Woods reduced their price target on WaFd from $42.00 to $34.00 and set a “market perform” rating on the stock in a research report on Tuesday. DA Davidson raised their target price on shares of WaFd from $39.00 to $41.00 and gave the stock a “buy” rating in a report on Monday, October 21st. StockNews.com raised shares of WaFd from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Stephens reissued an “equal weight” rating and issued a $38.00 price target on shares of WaFd in a report on Friday. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, WaFd has a consensus rating of “Hold” and an average target price of $36.00.

WaFd Trading Down 1.3 %

NASDAQ WAFD traded down $0.39 during trading on Tuesday, hitting $29.87. 237,807 shares of the company’s stock traded hands, compared to its average volume of 636,163. The stock has a fifty day moving average of $34.23 and a two-hundred day moving average of $34.43. WaFd has a 12-month low of $25.78 and a 12-month high of $38.62. The firm has a market cap of $2.43 billion, a P/E ratio of 13.76 and a beta of 0.87. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.08 and a quick ratio of 1.08.

Insiders Place Their Bets

In other news, EVP Ryan Mauer sold 12,132 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $33.33, for a total value of $404,359.56. Following the sale, the executive vice president now directly owns 100,376 shares of the company’s stock, valued at $3,345,532.08. The trade was a 10.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.46% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its holdings in shares of WaFd by 80.8% during the third quarter. Blue Trust Inc. now owns 1,188 shares of the bank’s stock valued at $41,000 after buying an additional 531 shares during the last quarter. McIlrath & Eck LLC increased its holdings in shares of WaFd by 112.7% in the 3rd quarter. McIlrath & Eck LLC now owns 1,323 shares of the bank’s stock worth $46,000 after purchasing an additional 701 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of WaFd by 100.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,644 shares of the bank’s stock worth $47,000 after purchasing an additional 822 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of WaFd by 515.8% during the third quarter. GAMMA Investing LLC now owns 1,558 shares of the bank’s stock valued at $54,000 after purchasing an additional 1,305 shares in the last quarter. Finally, Covestor Ltd boosted its position in shares of WaFd by 60.1% during the third quarter. Covestor Ltd now owns 1,904 shares of the bank’s stock valued at $66,000 after buying an additional 715 shares during the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

WaFd Company Profile

WaFd, Inc operates as the bank holding company for Washington Federal Bank that provides lending, depository, insurance, and other banking services in the United States. The company offers deposit products, including business and personal checking accounts, and term certificates of deposit, as well as money market accounts and passbook savings accounts.