WaFd (NASDAQ:WAFD) Cut to “Hold” at Zacks Research

WaFd (NASDAQ:WAFD) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday, Zacks reports.

Other analysts also recently issued reports about the stock. Keefe, Bruyette & Woods lowered their price target on shares of WaFd from $40.00 to $34.00 and set a “market perform” rating on the stock in a report on Monday, October 19th. Piper Sandler cut their price objective on shares of WaFd from $32.00 to $31.00 and set a “neutral” rating for the company in a report on Monday, October 19th. DA Davidson set a $31.00 price objective on shares of WaFd in a report on Monday, October 19th. Finally, Weiss Ratings downgraded shares of WaFd from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, October 19th. Five investment analysts have rated the stock with a Hold rating. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $32.50.

WaFd Trading Up 1.2%

Shares of NASDAQ:WAFD opened at $30.13 on Tuesday. WaFd has a 12-month low of $28.10 and a 12-month high of $39.49. The company has a market capitalization of $2.23 billion, a PE ratio of 9.39 and a beta of 0.90. The business has a 50 day moving average of $31.47 and a two-hundred day moving average of $33.89. The company has a current ratio of 0.94, a quick ratio of 0.92 and a debt-to-equity ratio of 0.92.

WaFd (NASDAQ:WAFD) last issued its quarterly earnings data on Thursday, October 15th. The bank reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. The business had revenue of $220.44 million for the quarter, compared to analysts’ expectations of $203.66 million. WaFd had a net margin of 18.04% and a return on equity of 9.37%. As a group, analysts forecast that WaFd will post 3.34 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. HB Wealth Management LLC lifted its position in shares of WaFd by 3.5% during the 2nd quarter. HB Wealth Management LLC now owns 10,514 shares of the bank’s stock valued at $403,000 after buying an additional 356 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in WaFd by 10.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 4,585 shares of the bank’s stock valued at $137,000 after acquiring an additional 418 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in WaFd in the 2nd quarter worth $26,000. Assetmark Inc. increased its holdings in WaFd by 3,620.0% in the 1st quarter. Assetmark Inc. now owns 930 shares of the bank’s stock worth $29,000 after acquiring an additional 905 shares in the last quarter. Finally, Amundi increased its holdings in WaFd by 9.4% in the 1st quarter. Amundi now owns 12,668 shares of the bank’s stock worth $398,000 after acquiring an additional 1,093 shares in the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.

WaFd Company Profile

WaFd, Inc (NASDAQ: WAFD) is the parent company of WaFd Bank, a regional financial institution that provides banking and lending services to individuals, families, businesses and real estate investors. The bank offers deposit accounts, checking and savings products, residential mortgages, home equity loans, commercial real estate financing, business loans and construction lending.

WaFd Bank also provides treasury management and cash-management services for businesses, along with personal and commercial banking solutions through its branch network and digital banking platforms.