Washington Federal Inc. (NASDAQ:WAFD) – Stock analysts at DA Davidson reduced their Q3 2018 earnings estimates for Washington Federal in a research note issued to investors on Wednesday, April 11th. DA Davidson analyst J. Rulis now expects that the bank will earn $0.60 per share for the quarter, down from their prior estimate of $0.66. DA Davidson currently has a “Neutral” rating and a $36.00 target price on the stock. DA Davidson also issued estimates for Washington Federal’s Q4 2018 earnings at $0.62 EPS, FY2018 earnings at $2.38 EPS and FY2019 earnings at $2.60 EPS.
Several other research firms have also issued reports on WAFD. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $38.00 target price on shares of Washington Federal in a research note on Thursday, January 18th. BidaskClub lowered shares of Washington Federal from a “hold” rating to a “sell” rating in a research note on Wednesday, January 31st. Zacks Investment Research lowered shares of Washington Federal from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 20th. ValuEngine upgraded shares of Washington Federal from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Finally, Piper Jaffray restated a “hold” rating and set a $35.00 price target on shares of Washington Federal in a research report on Thursday, April 12th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $37.00.
NASDAQ WAFD opened at $32.30 on Monday. Washington Federal has a 1 year low of $29.80 and a 1 year high of $37.70. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.02 and a quick ratio of 1.03. The firm has a market capitalization of $2,741.64, a PE ratio of 16.65, a PEG ratio of 1.37 and a beta of 1.14.
Washington Federal (NASDAQ:WAFD) last posted its earnings results on Wednesday, April 11th. The bank reported $0.57 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.02). Washington Federal had a return on equity of 9.53% and a net margin of 30.61%. The firm had revenue of $129.89 million during the quarter, compared to the consensus estimate of $131.87 million. During the same quarter in the previous year, the company earned $0.47 EPS.
Washington Federal declared that its board has authorized a stock buyback plan on Wednesday, January 24th that authorizes the company to buyback 5,000,000 shares. This buyback authorization authorizes the bank to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
A number of institutional investors and hedge funds have recently bought and sold shares of WAFD. Deutsche Bank AG grew its position in Washington Federal by 387.0% during the fourth quarter. Deutsche Bank AG now owns 672,609 shares of the bank’s stock valued at $23,034,000 after buying an additional 534,504 shares during the period. Millennium Management LLC grew its position in Washington Federal by 576.0% during the fourth quarter. Millennium Management LLC now owns 386,926 shares of the bank’s stock valued at $13,252,000 after buying an additional 329,688 shares during the period. JPMorgan Chase & Co. grew its position in Washington Federal by 487.1% during the third quarter. JPMorgan Chase & Co. now owns 311,752 shares of the bank’s stock valued at $10,584,000 after buying an additional 258,654 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Washington Federal by 217.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 328,466 shares of the bank’s stock valued at $11,250,000 after buying an additional 225,038 shares during the period. Finally, BlackRock Inc. grew its position in Washington Federal by 1.9% during the fourth quarter. BlackRock Inc. now owns 9,869,149 shares of the bank’s stock valued at $338,017,000 after buying an additional 186,518 shares during the period. Institutional investors own 84.38% of the company’s stock.
Washington Federal Company Profile
Washington Federal, Inc operates as the bank holding company for Washington Federal, National Association that provides lending, depository, insurance, and other banking services to consumers, mid-sized and large businesses, and owners and developers of commercial real estate in the United States. The company accepts deposit products, such as business and personal checking accounts, and term certificates of deposit, as well as money market accounts and passbook savings accounts.
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