WaFd (NASDAQ:WAFD) Hits New 52-Week Low – Time to Sell?

Shares of WaFd, Inc (NASDAQ:WAFD) reached a new 52-week low on Thursday . The stock traded as low as $23.91 and last traded at $26.43, with a volume of 955177 shares trading hands. The stock had previously closed at $24.79.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Piper Sandler dropped their target price on WaFd from $37.00 to $31.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 21st. Keefe, Bruyette & Woods decreased their price objective on WaFd from $42.00 to $34.00 and set a “market perform” rating for the company in a report on Tuesday, January 21st. StockNews.com lowered WaFd from a “hold” rating to a “sell” rating in a research note on Friday, April 4th. Stephens reaffirmed an “equal weight” rating and set a $38.00 price target on shares of WaFd in a research report on Friday, January 17th. Finally, DA Davidson downgraded WaFd from a “buy” rating to a “neutral” rating and cut their price target for the stock from $35.00 to $32.00 in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $33.75.

WaFd Trading Up 6.6 %

The company has a market cap of $2.16 billion, a PE ratio of 12.18 and a beta of 0.79. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.05. The business has a 50-day simple moving average of $28.63 and a 200-day simple moving average of $32.16.

WaFd Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.09%. This is an increase from WaFd’s previous quarterly dividend of $0.26. WaFd’s payout ratio is presently 49.77%.

Hedge Funds Weigh In On WaFd

Several large investors have recently bought and sold shares of the stock. CIBC Asset Management Inc raised its holdings in shares of WaFd by 4.8% in the fourth quarter. CIBC Asset Management Inc now owns 7,424 shares of the bank’s stock valued at $239,000 after buying an additional 338 shares during the last quarter. Cooper Financial Group grew its position in WaFd by 3.2% during the fourth quarter. Cooper Financial Group now owns 11,134 shares of the bank’s stock worth $359,000 after buying an additional 345 shares during the period. Harbour Investments Inc. grew its position in shares of WaFd by 29.6% in the fourth quarter. Harbour Investments Inc. now owns 1,752 shares of the bank’s stock valued at $56,000 after purchasing an additional 400 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of WaFd by 0.4% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 98,124 shares of the bank’s stock worth $3,162,000 after purchasing an additional 433 shares in the last quarter. Finally, Summit Investment Advisors Inc. increased its stake in shares of WaFd by 6.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,987 shares of the bank’s stock worth $225,000 after purchasing an additional 450 shares in the last quarter. Institutional investors and hedge funds 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.