WaFd, Inc. $WAFD Stake Boosted by Systematic Financial Management LP

Key Points

• Systematic Financial Management LP increased its holdings in WaFd, Inc. by 1.7%, owning a total of 1,531,327 shares after acquiring an additional 24,959 shares in the first quarter.
• The recent analyst ratings for WaFd show a consensus rating of "Hold" with a price target averaging $32.25.
• WaFd announced a quarterly dividend of $0.27, to be paid on September 5th, representing an annualized yield of 3.4%.

Systematic Financial Management LP lifted its stake in shares of WaFd, Inc. (NASDAQ:WAFD - Free Report) by 1.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,531,327 shares of the bank's stock after acquiring an additional 24,959 shares during the quarter. WaFd comprises about 1.2% of Systematic Financial Management LP's investment portfolio, making the stock its 12th biggest holding. Systematic Financial Management LP owned 1.91% of WaFd worth $43,765,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. CANADA LIFE ASSURANCE Co increased its stake in shares of WaFd by 0.4% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 98,124 shares of the bank's stock valued at $3,162,000 after acquiring an additional 433 shares during the period. PNC Financial Services Group Inc. grew its position in WaFd by 3.5% in the first quarter. PNC Financial Services Group Inc. now owns 13,892 shares of the bank's stock worth $397,000 after buying an additional 468 shares during the last quarter. KBC Group NV grew its position in WaFd by 12.7% in the first quarter. KBC Group NV now owns 4,239 shares of the bank's stock worth $121,000 after buying an additional 477 shares during the last quarter. TD Private Client Wealth LLC grew its position in WaFd by 35.2% in the first quarter. TD Private Client Wealth LLC now owns 2,002 shares of the bank's stock worth $57,000 after buying an additional 521 shares during the last quarter. Finally, Neuberger Berman Group LLC grew its position in WaFd by 4.7% in the first quarter. Neuberger Berman Group LLC now owns 12,164 shares of the bank's stock worth $348,000 after buying an additional 549 shares during the last quarter. Institutional investors and hedge funds own 83.71% of the company's stock.

WaFd Trading Up 1.2%

NASDAQ WAFD traded up $0.37 on Wednesday, hitting $31.95. 396,361 shares of the stock were exchanged, compared to its average volume of 553,597. WaFd, Inc. has a 52-week low of $23.75 and a 52-week high of $38.62. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of 12.15 and a beta of 0.90. The company's 50-day moving average price is $30.00 and its two-hundred day moving average price is $29.01.

WaFd (NASDAQ:WAFD - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The bank reported $0.73 EPS for the quarter, beating the consensus estimate of $0.67 by $0.06. WaFd had a net margin of 15.57% and a return on equity of 8.57%. The business had revenue of $186.26 million for the quarter, compared to analysts' expectations of $184.47 million. Research analysts predict that WaFd, Inc. will post 2.56 EPS for the current year.

WaFd Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have issued reports on WAFD shares. DA Davidson lifted their price target 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 lifted their price target on shares of WaFd from $30.00 to $32.00 and gave the stock a "market perform" rating in a research report on Monday, July 21st. Wall Street Zen upgraded shares of WaFd from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Piper Sandler lifted their price target on shares of WaFd from $30.00 to $31.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Finally, Stephens lifted their price target on shares of 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 company currently has an average rating of "Hold" and an average target price of $32.25.

About WaFd

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.