Connor Clark & Lunn Investment Management Ltd. Takes $1.13 Million Position in WaFd, Inc. $WAFD

Key Points

• Connor Clark & Lunn Investment Management acquired 29,454 WaFd shares worth approximately $1.13 million during the second quarter. Institutional investors collectively own 83.71% of the company.
• Analysts maintain a generally cautious outlook, with one Buy rating and four Holds; WaFd has an average rating of Hold and an average price target of $37.00.
• WaFd reported quarterly revenue of $205.52 million and earnings of $0.81 per share, narrowly missing estimates, while declaring a quarterly dividend of $0.27, representing a 3.0% annualized yield.

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in WaFd, Inc. (NASDAQ:WAFD - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm purchased 29,454 shares of the bank's stock, valued at approximately $1,130,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Assetmark Inc. increased its stake in WaFd by 3,620.0% in the first quarter. Assetmark Inc. now owns 930 shares of the bank's stock valued at $29,000 after purchasing an additional 905 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of WaFd by 42.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,174 shares of the bank's stock worth $34,000 after purchasing an additional 352 shares in the last quarter. McIlrath & Eck LLC boosted its position in shares of WaFd by 57.6% during the second quarter. McIlrath & Eck LLC now owns 1,327 shares of the bank's stock worth $39,000 after purchasing an additional 485 shares in the last quarter. Danske Bank A S acquired a new position in shares of WaFd in the 3rd quarter valued at $51,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of WaFd by 712.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,901 shares of the bank's stock valued at $56,000 after buying an additional 1,667 shares during the period. Institutional investors own 83.71% of the company's stock.

Wall Street Analyst Weigh In

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

WaFd Stock Performance

Shares of WAFD stock opened at $36.09 on Monday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.98 and a current ratio of 0.98. WaFd, Inc. has a 52 week low of $26.31 and a 52 week high of $39.49. The company's 50 day moving average price is $37.40 and its two-hundred day moving average price is $34.97. The company has a market capitalization of $2.67 billion, a P/E ratio of 11.38 and a beta of 0.84.

WaFd (NASDAQ:WAFD - Get Free Report) last released its quarterly 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 during the quarter, compared to analyst estimates of $199.56 million. On average, analysts expect that WaFd, Inc. will post 3.21 earnings per share for the current fiscal year.

WaFd Announces Dividend

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source