36,931 Shares in WaFd, Inc. $WAFD Acquired by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company acquired 36,931 WaFd shares worth approximately $1.42 million during the second quarter. Institutional investors collectively own 83.71% of WAFD.
• WaFd reported quarterly revenue of $205.52 million, exceeding expectations, but earnings of $0.81 per share narrowly missed estimates. Analysts expect full-year EPS of $3.23.
• WaFd declared a quarterly dividend of $0.27 per share, equivalent to an annualized $1.08 payout and a 3.0% yield. Analysts maintain a consensus “Hold” rating with a $37 price target.

The Manufacturers Life Insurance Company bought a new stake in WaFd, Inc. (NASDAQ:WAFD - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 36,931 shares of the bank's stock, valued at approximately $1,417,000.

Several other hedge funds have also bought and sold shares of WAFD. Oregon Public Employees Retirement Fund grew its stake in WaFd by 1.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 18,056 shares of the bank's stock worth $578,000 after buying an additional 300 shares in the last quarter. ProShare Advisors LLC grew its position in WaFd by 2.0% in the fourth quarter. ProShare Advisors LLC now owns 15,162 shares of the bank's stock worth $486,000 after acquiring an additional 304 shares in the last quarter. Baron Wealth Management LLC increased its stake in WaFd by 3.8% in the first quarter. Baron Wealth Management LLC now owns 8,720 shares of the bank's stock valued at $274,000 after acquiring an additional 323 shares during the last quarter. Sanctuary Advisors LLC increased its stake in WaFd by 3.8% in the fourth quarter. Sanctuary Advisors LLC now owns 9,539 shares of the bank's stock valued at $306,000 after acquiring an additional 350 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in WaFd by 42.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,174 shares of the bank's stock valued at $34,000 after purchasing an additional 352 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors.

WaFd Stock Up 0.1%

WAFD opened at $35.98 on Friday. The company has a market cap of $2.66 billion, a P/E ratio of 11.35 and a beta of 0.83. The business's 50-day moving average price is $37.26 and its 200-day moving average price is $35.05. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.20. WaFd, Inc. has a 12 month low of $26.31 and a 12 month high of $39.49.

WaFd (NASDAQ:WAFD - Get Free Report) last issued its earnings results on Friday, July 17th. The bank reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.01). WaFd had a net margin of 18.47% and a return on equity of 8.98%. The company had revenue of $205.52 million for the quarter, compared to analysts' expectations of $199.56 million. On average, equities analysts expect that WaFd, Inc. will post 3.23 EPS for the current year.

WaFd Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Friday, August 21st will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, August 21st. WaFd's dividend payout ratio is 34.07%.

Wall Street Analysts Forecast Growth

WAFD has been the subject of a number of research reports. DA Davidson upped their price objective on WaFd from $38.00 to $40.00 and gave the stock a "neutral" rating in a report on Monday, July 20th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of WaFd in a research note on Wednesday, August 19th. Finally, Zacks Research downgraded shares of WaFd from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 22nd. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $37.00.

WaFd Company Profile

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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