WaFd (NASDAQ:WAFD) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of WaFd (NASDAQ:WAFD) from a hold rating to a sell rating in a report released on Saturday morning.

Several other analysts have also issued reports on WAFD. Weiss Ratings reiterated a “hold (c+)” rating on shares of WaFd in a research report on Monday, December 29th. Piper Sandler cut their target price on WaFd from $33.50 to $30.50 and set a “neutral” rating for the company in a research note on Tuesday, January 20th. Keefe, Bruyette & Woods lifted their price target on WaFd from $31.00 to $34.00 and gave the company a “market perform” rating in a research note on Tuesday, January 20th. Finally, Royal Bank Of Canada set a $34.00 price target on WaFd in a report on Tuesday, January 20th. Five equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, WaFd currently has a consensus rating of “Hold” and a consensus price target of $32.90.

WaFd Stock Performance

WAFD opened at $32.62 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.96 and a current ratio of 0.95. WaFd has a 52-week low of $23.75 and a 52-week high of $33.92. The firm has a market cap of $2.49 billion, a P/E ratio of 11.29 and a beta of 0.86. The business’s fifty day moving average is $32.57 and its 200-day moving average is $31.07.

WaFd (NASDAQ:WAFD) last posted its quarterly earnings data on Friday, January 16th. The bank reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.01). WaFd had a return on equity of 8.67% and a net margin of 17.45%.The firm had revenue of $188.32 million for the quarter, compared to the consensus estimate of $193.36 million. Sell-side analysts expect that WaFd will post 2.56 EPS for the current fiscal year.

WaFd Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Friday, November 21st were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Friday, November 21st. WaFd’s dividend payout ratio is presently 37.37%.

Insider Buying and Selling at WaFd

In other news, CEO Brent J. Beardall acquired 3,000 shares of WaFd stock in a transaction that occurred on Wednesday, December 3rd. The shares were acquired at an average price of $16.85 per share, for a total transaction of $50,550.00. Following the transaction, the chief executive officer directly owned 6,000 shares of the company’s stock, valued at approximately $101,100. The trade was a 100.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.49% of the stock is currently owned by company insiders.

Institutional Trading of WaFd

Hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its stake in shares of WaFd by 42.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,174 shares of the bank’s stock valued at $34,000 after buying an additional 352 shares during the period. McIlrath & Eck LLC grew its holdings in WaFd by 57.6% during the 2nd quarter. McIlrath & Eck LLC now owns 1,327 shares of the bank’s stock worth $39,000 after acquiring an additional 485 shares during the last quarter. Hantz Financial Services Inc. increased its position in WaFd by 604.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,423 shares of the bank’s stock valued at $43,000 after acquiring an additional 1,221 shares during the period. Danske Bank A S bought a new position in shares of WaFd during the third quarter valued at $51,000. Finally, Blue Trust Inc. lifted its holdings in shares of WaFd by 36.0% during the third quarter. Blue Trust Inc. now owns 1,837 shares of the bank’s stock worth $56,000 after purchasing an additional 486 shares during the period. 83.71% of the stock is owned by institutional investors and hedge funds.

About WaFd

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.