Bank of New York Mellon Corp Purchases New Shares in WaFd, Inc. $WAFD

Key Points

• Bank of New York Mellon acquired 690,349 WaFd shares worth approximately $26.5 million, representing about 0.93% of the company. Institutional investors collectively own 83.71% of WaFd.
• WaFd reported quarterly earnings of $0.81 per share, slightly below the $0.82 analyst consensus, while revenue of $205.52 million exceeded expectations. The stock opened at $36.09, compared with a consensus analyst price target of $37.00.
• WaFd declared a quarterly dividend of $0.27 per share, equivalent to a $1.08 annualized payout and a 3.0% yield. Analyst sentiment is largely neutral, with one Buy rating and four Hold ratings.

Bank of New York Mellon Corp acquired a new position in shares of WaFd, Inc. (NASDAQ:WAFD - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 690,349 shares of the bank's stock, valued at approximately $26,489,000. Bank of New York Mellon Corp owned about 0.93% of WaFd at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in WAFD. Dimensional Fund Advisors LP boosted its position in WaFd by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,980,089 shares of the bank's stock worth $159,514,000 after purchasing an additional 26,000 shares during the last quarter. Systematic Financial Management LP raised its stake in shares of WaFd by 0.5% during the 4th quarter. Systematic Financial Management LP now owns 1,557,436 shares of the bank's stock worth $49,885,000 after purchasing an additional 8,039 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of WaFd by 11.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,375,110 shares of the bank's stock worth $41,652,000 after buying an additional 145,646 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of WaFd by 28.1% in the 1st quarter. Bank of America Corp DE now owns 905,863 shares of the bank's stock worth $28,444,000 after buying an additional 198,728 shares during the last quarter. Finally, First Trust Advisors LP grew its position in WaFd by 6.3% during the third quarter. First Trust Advisors LP now owns 698,303 shares of the bank's stock valued at $21,152,000 after buying an additional 41,598 shares during the period. Institutional investors own 83.71% of the company's stock.

WaFd Stock Performance

NASDAQ WAFD opened at $36.09 on Friday. The firm has a market cap of $2.67 billion, a P/E ratio of 11.38 and a beta of 0.84. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.20. The company's 50 day moving average is $37.40 and its 200-day moving average is $34.96. 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 released its quarterly earnings data on Friday, July 17th. The bank reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates of $0.82 by ($0.01). The business had revenue of $205.52 million during the quarter, compared to analysts' expectations of $199.56 million. WaFd had a net margin of 18.47% and a return on equity of 8.98%. Sell-side analysts predict that WaFd, Inc. will post 3.21 earnings per share for the current year.

WaFd Dividend Announcement

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

Analyst Ratings Changes

Several analysts have commented on the stock. DA Davidson lifted their price objective on shares of WaFd from $38.00 to $40.00 and gave the stock a "neutral" rating in a research report on Monday, July 20th. Weiss Ratings reissued a "buy (b)" rating on shares of WaFd in a research report on Wednesday, August 19th. Finally, Zacks Research lowered shares of WaFd from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 22nd. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, WaFd currently has an average rating of "Hold" and a consensus price target of $37.00.

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.

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