WaFd (NASDAQ:WAFD) Sets New 12-Month High – Still a Buy?
by Doug Wharley · The Cerbat GemShares of WaFd, Inc. (NASDAQ:WAFD – Get Free Report) reached a new 52-week high on Friday . The company traded as high as $33.92 and last traded at $33.09, with a volume of 24517 shares changing hands. The stock had previously closed at $33.51.
Analyst Upgrades and Downgrades
WAFD has been the subject of several recent research reports. Keefe, Bruyette & Woods cut their target price on shares of WaFd from $32.00 to $31.00 and set a “market perform” rating for the company in a research report on Monday, October 20th. Wall Street Zen downgraded shares of WaFd from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of WaFd in a research report on Monday, December 29th. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $32.00.
Get Our Latest Analysis on WaFd
WaFd Trading Down 1.4%
The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market capitalization of $2.53 billion, a PE ratio of 12.51 and a beta of 0.86. The stock has a fifty day moving average of $31.91 and a 200 day moving average of $30.81.
WaFd (NASDAQ:WAFD – Get Free Report) last released its quarterly earnings data on Tuesday, October 28th. The bank reported $0.72 earnings per share (EPS) for the quarter. The firm had revenue of $187.62 million for the quarter. WaFd had a net margin of 16.02% and a return on equity of 8.40%. As a group, sell-side analysts predict that WaFd, Inc. will post 2.56 earnings per share for the current fiscal year.
WaFd Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Friday, November 21st were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Friday, November 21st. WaFd’s dividend payout ratio is currently 40.91%.
Insiders Place Their Bets
In related news, CEO Brent J. Beardall purchased 3,000 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The stock was bought at an average cost of $16.85 per share, for a total transaction of $50,550.00. Following the completion of the transaction, the chief executive officer directly owned 6,000 shares in the company, valued at $101,100. This represents a 100.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.49% of the company’s stock.
Institutional Trading of WaFd
Several institutional investors and hedge funds have recently modified their holdings of WAFD. Arrowstreet Capital Limited Partnership bought a new position in shares of WaFd during the 2nd quarter worth approximately $7,666,000. Ameriprise Financial Inc. increased its holdings in shares of WaFd by 11.8% in the third quarter. Ameriprise Financial Inc. now owns 1,375,110 shares of the bank’s stock valued at $41,652,000 after purchasing an additional 145,646 shares during the period. Millennium Management LLC increased its holdings in shares of WaFd by 1,533.5% in the third quarter. Millennium Management LLC now owns 146,578 shares of the bank’s stock valued at $4,440,000 after purchasing an additional 137,605 shares during the period. William Blair Investment Management LLC raised its stake in shares of WaFd by 14.3% in the third quarter. William Blair Investment Management LLC now owns 1,100,312 shares of the bank’s stock worth $33,328,000 after purchasing an additional 137,525 shares during the last quarter. Finally, Citadel Advisors LLC boosted its position in WaFd by 206.4% in the third quarter. Citadel Advisors LLC now owns 179,650 shares of the bank’s stock valued at $5,442,000 after buying an additional 121,009 shares during the last quarter. Institutional investors own 83.71% of the company’s stock.
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.