Rafferty Asset Management LLC Sells 29,072 Shares of WaFd, Inc. $WAFD

Key Points

• Rafferty Asset Management LLC has reduced its holdings in WaFd, Inc. by 27.1%, owning now 78,252 shares valued at approximately $2.24 million.
• WaFd announced a quarterly dividend of $0.27 per share, which will result in an annualized dividend of $1.08 and a yield of 3.4%.
• WaFd's recent earnings report showed an EPS of $0.73, exceeding the consensus estimate of $0.67, with revenues of $186.26 million compared to expected $184.47 million.

Rafferty Asset Management LLC lessened its stake in shares of WaFd, Inc. (NASDAQ:WAFD - Free Report) by 27.1% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 78,252 shares of the bank's stock after selling 29,072 shares during the quarter. Rafferty Asset Management LLC owned about 0.10% of WaFd worth $2,236,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of WAFD. Brooklyn Investment Group acquired a new stake in WaFd during the first quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd increased its stake in shares of WaFd by 232.4% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,978 shares of the bank's stock worth $57,000 after purchasing an additional 1,383 shares during the period. TD Private Client Wealth LLC lifted its holdings in WaFd by 35.2% during the 1st quarter. TD Private Client Wealth LLC now owns 2,002 shares of the bank's stock worth $57,000 after purchasing an additional 521 shares during the last quarter. KBC Group NV grew its holdings in WaFd by 12.7% in the 1st quarter. KBC Group NV now owns 4,239 shares of the bank's stock valued at $121,000 after buying an additional 477 shares in the last quarter. Finally, Aquatic Capital Management LLC acquired a new position in WaFd in the 4th quarter valued at $141,000. Institutional investors and hedge funds own 83.71% of the company's stock.

Analyst Ratings Changes

WAFD has been the subject of a number of recent research reports. Wall Street Zen raised shares of WaFd from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. DA Davidson increased their target price on shares of WaFd from $29.00 to $33.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Keefe, Bruyette & Woods raised their target price on shares of WaFd from $30.00 to $32.00 and gave the stock a "market perform" rating in a report on Monday, July 21st. Piper Sandler lifted their price target on shares of WaFd from $30.00 to $31.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Finally, Stephens increased their price target on WaFd from $32.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Monday, July 21st. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $32.25.

WaFd Price Performance

Shares of WAFD traded up $0.15 during midday trading on Thursday, hitting $31.56. The company's stock had a trading volume of 84,280 shares, compared to its average volume of 544,485. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.71. WaFd, Inc. has a one year low of $23.75 and a one year high of $38.62. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of 12.00 and a beta of 0.93. The company's fifty day simple moving average is $30.37 and its two-hundred day simple moving average is $29.08.

WaFd (NASDAQ:WAFD - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The bank reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.06. WaFd had a return on equity of 8.57% and a net margin of 15.57%.The business had revenue of $186.26 million during the quarter, compared to the consensus estimate of $184.47 million. As a group, equities analysts expect that WaFd, Inc. will post 2.56 earnings per share for the current fiscal year.

WaFd Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 22nd will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $1.08 annualized dividend and a dividend yield of 3.4%. WaFd's payout ratio is 41.06%.

WaFd Profile

WaFd, Inc operates as the bank holding company for Washington Federal Bank that provides lending, depository, insurance, and other banking services in the United States. The company offers deposit products, including business and personal checking accounts, and term certificates of deposit, as well as money market accounts and passbook savings accounts.