WaFd (NASDAQ:WAFD) Announces Earnings Results

by · The Markets Daily

WaFd (NASDAQ:WAFD – Get Free Report) announced its quarterly earnings data on Thursday. The bank reported $0.75 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.01), Zacks reports. The business had revenue of $191.37 million during the quarter, compared to the consensus estimate of $193.36 million. WaFd had a net margin of 16.02% and a return on equity of 8.40%.

WaFd Price Performance

WAFD stock traded down $1.34 during mid-day trading on Friday, reaching $32.39. The company’s stock had a trading volume of 968,974 shares, compared to its average volume of 463,386. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.64. The company’s 50 day moving average is $32.28 and its two-hundred day moving average is $30.96. The stock has a market cap of $2.48 billion, a PE ratio of 12.27 and a beta of 0.86. WaFd has a fifty-two week low of $23.75 and a fifty-two week high of $33.92.

WaFd Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Friday, November 21st were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 3.3%. The ex-dividend date was Friday, November 21st. WaFd’s payout ratio is 40.91%.

Insider Buying and Selling at WaFd

In other WaFd news, CEO Brent J. Beardall acquired 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was purchased at an average cost of $16.85 per share, with a total value of $50,550.00. Following the transaction, the chief executive officer owned 6,000 shares of the company’s stock, valued at $101,100. This trade 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 hyperlink. Insiders own 1.49% of the company’s stock.

Institutional Trading of WaFd

Several hedge funds have recently modified their holdings of the stock. CIBC Bancorp USA Inc. purchased a new stake in shares of WaFd during the 3rd quarter worth approximately $255,000. Danske Bank A S purchased a new stake in WaFd in the third quarter valued at $51,000. Dark Forest Capital Management LP boosted its stake in WaFd by 7.0% in the third quarter. Dark Forest Capital Management LP now owns 119,208 shares of the bank’s stock valued at $3,611,000 after acquiring an additional 7,761 shares in the last quarter. Verition Fund Management LLC grew its holdings in shares of WaFd by 10.5% during the third quarter. Verition Fund Management LLC now owns 54,304 shares of the bank’s stock worth $1,645,000 after purchasing an additional 5,148 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of WaFd by 1,533.5% during the third quarter. Millennium Management LLC now owns 146,578 shares of the bank’s stock worth $4,440,000 after purchasing an additional 137,605 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on WAFD. Keefe, Bruyette & Woods dropped their price objective on shares of WaFd from $32.00 to $31.00 and set a “market perform” rating on the stock in a report on Monday, October 20th. Weiss Ratings restated a “hold (c+)” rating on shares of WaFd in a research note on Monday, December 29th. Finally, Wall Street Zen upgraded WaFd from a “sell” rating to a “hold” rating in a research report on Saturday. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, WaFd presently has an average rating of “Hold” and a consensus target price of $32.00.

Get Our Latest Analysis on WAFD

About WaFd

(Get Free Report)

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.

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