Zacks Research Issues Pessimistic Outlook for WaFd Earnings

WaFd, Inc. (NASDAQ:WAFD) – Zacks Research lowered their FY2027 earnings estimates for WaFd in a note issued to investors on Thursday, November 5th. Zacks Research analyst Team now forecasts that the bank will earn $3.22 per share for the year, down from their prior estimate of $3.36. Zacks Research currently has a “Hold” rating on the stock. The consensus estimate for WaFd’s current full-year earnings is $3.30 per share.

WaFd (NASDAQ:WAFD) last announced its quarterly earnings data on Friday, October 16th. The bank reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.01. The company had revenue of $220.44 million during the quarter, compared to analyst estimates of $203.66 million. WaFd had a net margin of 18.04% and a return on equity of 9.37%.

WAFD has been the subject of a number of other reports. Keefe, Bruyette & Woods lowered their price objective on shares of WaFd from $40.00 to $34.00 and set a “market perform” rating for the company in a research note on Monday, October 19th. DA Davidson set a $31.00 target price on shares of WaFd in a research report on Monday, October 19th. Weiss Ratings lowered shares of WaFd from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, October 19th. Finally, Piper Sandler reduced their price target 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. Five equities research analysts have rated the stock with a Hold rating. According to MarketBeat, WaFd currently has a consensus rating of “Hold” and a consensus target price of $32.50.

WaFd Price Performance

Shares of WAFD stock opened at $29.44 on Monday. WaFd has a twelve month low of $28.10 and a twelve month high of $39.49. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 9.16 and a beta of 0.90. The stock has a fifty day simple moving average of $30.95 and a two-hundred day simple moving average of $33.84. The company has a current ratio of 0.94, a quick ratio of 0.92 and a debt-to-equity ratio of 0.92.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ieq Capital LLC lifted its stake in shares of WaFd by 30.5% during the 3rd quarter. Ieq Capital LLC now owns 14,824 shares of the bank’s stock worth $444,000 after purchasing an additional 3,465 shares during the last quarter. Public Sector Pension Investment Board boosted its position in WaFd by 44.8% during the third quarter. Public Sector Pension Investment Board now owns 367,471 shares of the bank’s stock valued at $10,811,000 after purchasing an additional 113,616 shares in the last quarter. Edgestream Partners L.P. purchased a new position in WaFd in the third quarter valued at about $899,000. Hantz Financial Services Inc. grew its stake in WaFd by 135.2% in the third quarter. Hantz Financial Services Inc. now owns 5,412 shares of the bank’s stock valued at $162,000 after purchasing an additional 3,111 shares during the last quarter. Finally, Royce & Associates LP purchased a new position in WaFd in the third quarter valued at about $206,000. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

About WaFd

WaFd, Inc. is the bank holding company for WaFd Bank, a regional financial institution serving individuals, businesses and organizations. The bank offers deposit accounts, including checking and savings, as well as consumer and commercial lending, mortgage services and cash management. Its lending activities include residential mortgages and loans to businesses, including commercial real estate financing. WaFd Bank operates across the western United States, with a presence in states including Washington, Oregon, Idaho, Arizona, Nevada, Utah, New Mexico and Texas.