WaFd (NASDAQ:WAFD) Issues Quarterly Earnings Results

WaFd (NASDAQ:WAFD) posted its quarterly earnings data on Thursday. The bank reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.08, Briefing.com reports. The business had revenue of $197.38 million for the quarter, compared to the consensus estimate of $190.51 million. WaFd had a net margin of 17.45% and a return on equity of 8.67%. During the same period last year, the firm posted $0.17 earnings per share.

WaFd Stock Performance

NASDAQ:WAFD opened at $32.51 on Friday. The company’s 50-day moving average price is $31.97 and its 200-day moving average price is $31.60. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.89. The company has a market cap of $2.47 billion, a P/E ratio of 11.25 and a beta of 0.83. WaFd has a twelve month low of $26.31 and a twelve month high of $34.29.

WaFd Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, February 13th. WaFd’s dividend payout ratio (DPR) is currently 37.37%.

Analyst Ratings Changes

Several research firms have issued reports on WAFD. Royal Bank Of Canada set a $34.00 price objective on shares of WaFd in a report on Tuesday, January 20th. Piper Sandler decreased their price objective on shares of WaFd from $33.50 to $30.50 and set a “neutral” rating on the stock in a report on Tuesday, January 20th. Wall Street Zen raised shares of WaFd from a “sell” rating to a “hold” rating in a research note on Sunday, February 8th. Keefe, Bruyette & Woods raised their price target on shares of WaFd from $34.00 to $35.00 and gave the stock a “market perform” rating in a research note on Thursday, April 9th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of WaFd in a research note on Monday, December 29th. Five equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $33.10.

Insider Buying and Selling at WaFd

In other news, EVP Cathy E. Cooper sold 5,300 shares of the firm’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $33.77, for a total value of $178,981.00. Following the transaction, the executive vice president directly owned 94,755 shares of the company’s stock, valued at approximately $3,199,876.35. This trade represents a 5.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.49% of the company’s stock.

Institutional Investors Weigh In On WaFd

Hedge funds and other institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. increased its position in WaFd by 42.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,174 shares of the bank’s stock worth $34,000 after purchasing an additional 352 shares during the last quarter. McIlrath & Eck LLC grew its holdings in shares of WaFd by 57.6% in the second quarter. McIlrath & Eck LLC now owns 1,327 shares of the bank’s stock valued at $39,000 after purchasing an additional 485 shares in the last quarter. Danske Bank A S acquired a new position in shares of WaFd in the third quarter valued at approximately $51,000. EverSource Wealth Advisors LLC grew its holdings in shares of WaFd by 712.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,901 shares of the bank’s stock valued at $56,000 after purchasing an additional 1,667 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in WaFd in the fourth quarter worth approximately $179,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

WaFd Company Profile

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.