Jupiter Topco LLC Invests $1.31 Million in WaFd, Inc. $WAFD

Key Points

• Jupiter Topco LLC acquired 34,255 WaFd shares in the second quarter, worth approximately $1.315 million. Institutional investors collectively own 83.71% of the bank’s outstanding stock.
• Analysts maintain a cautious outlook, with one Buy rating and four Hold ratings; WaFd’s consensus rating is Hold with a $37 price target.
• WaFd reported quarterly EPS of $0.81, slightly below the $0.82 consensus, while revenue exceeded estimates at $205.52 million. The company also paid a quarterly dividend of $0.27 per share, representing a 3.0% annualized yield.

Jupiter Topco LLC bought a new stake in WaFd, Inc. (NASDAQ:WAFD - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 34,255 shares of the bank's stock, valued at approximately $1,315,000.

A number of other large investors also recently made changes to their positions in the company. Assetmark Inc. increased its stake in WaFd by 3,620.0% in the 1st quarter. Assetmark Inc. now owns 930 shares of the bank's stock valued at $29,000 after buying an additional 905 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of WaFd by 42.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,174 shares of the bank's stock worth $34,000 after buying an additional 352 shares during the last quarter. McIlrath & Eck LLC grew its holdings in shares of WaFd by 57.6% in the second quarter. McIlrath & Eck LLC now owns 1,327 shares of the bank's stock valued at $39,000 after acquiring an additional 485 shares in the last quarter. Danske Bank A S bought a new position in shares of WaFd in the third quarter valued at approximately $51,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of WaFd by 712.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,901 shares of the bank's stock valued at $56,000 after acquiring an additional 1,667 shares during the last quarter. 83.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

WaFd Trading Up 0.9%

Shares of WaFd stock opened at $36.30 on Friday. The company's 50-day moving average price is $37.23 and its 200-day moving average price is $35.06. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.20. The company has a market cap of $2.69 billion, a price-to-earnings ratio of 11.45 and a beta of 0.83. 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 announced its quarterly earnings results on Friday, July 17th. The bank reported $0.81 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.01). The firm had revenue of $205.52 million during the quarter, compared to the consensus estimate of $199.56 million. WaFd had a net margin of 18.47% and a return on equity of 8.98%. On average, equities analysts expect that WaFd, Inc. will post 3.23 earnings per share for the current fiscal year.

WaFd Dividend Announcement

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

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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