WaFd, Inc. $WAFD Shares Purchased by Bank of America Corp DE

Key Points

• Bank of America increased its WaFd stake by 28.1% in the first quarter, acquiring 198,728 additional shares and bringing its holdings to 905,863 shares valued at $28.4 million. Institutional investors collectively own 83.71% of the company.
• WaFd reported quarterly revenue of $205.52 million, exceeding estimates, but earnings per share of $0.81 fell slightly short of the $0.82 consensus forecast. The stock opened at $37.94, near its 52-week high of $39.49.
• WaFd declared a quarterly dividend of $0.27 per share, equivalent to an annualized $1.08 payout and a 2.8% yield. Analysts maintain a consensus “Hold” rating with an average price target of $37.00.

Bank of America Corp DE increased its position in shares of WaFd, Inc. (NASDAQ:WAFD - Free Report) by 28.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 905,863 shares of the bank's stock after purchasing an additional 198,728 shares during the period. Bank of America Corp DE owned 1.23% of WaFd worth $28,444,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in shares of WaFd by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,980,089 shares of the bank's stock worth $159,514,000 after buying an additional 26,000 shares during the last quarter. Systematic Financial Management LP lifted its holdings in WaFd by 0.5% in the fourth quarter. Systematic Financial Management LP now owns 1,557,436 shares of the bank's stock valued at $49,885,000 after acquiring an additional 8,039 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in WaFd by 11.8% in the third quarter. Ameriprise Financial Inc. now owns 1,375,110 shares of the bank's stock valued at $41,652,000 after acquiring an additional 145,646 shares during the last quarter. Bank of New York Mellon Corp grew its position in WaFd by 5.7% in the fourth quarter. Bank of New York Mellon Corp now owns 712,302 shares of the bank's stock worth $22,815,000 after acquiring an additional 38,376 shares during the period. Finally, First Trust Advisors LP grew its position in WaFd by 6.3% in the third quarter. First Trust Advisors LP now owns 698,303 shares of the bank's stock worth $21,152,000 after acquiring an additional 41,598 shares during the period. 83.71% of the stock is owned by hedge funds and other institutional investors.

WaFd Stock Performance

WAFD opened at $37.94 on Monday. WaFd, Inc. has a 52 week low of $26.31 and a 52 week high of $39.49. 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 business has a fifty day simple moving average of $37.37 and a 200-day simple moving average of $34.71. The firm has a market cap of $2.81 billion, a P/E ratio of 11.97 and a beta of 0.84.

WaFd (NASDAQ:WAFD - Get Free Report) last posted its quarterly earnings data on Friday, July 17th. The bank reported $0.81 earnings per share (EPS) 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 firm had revenue of $205.52 million during the quarter, compared to analysts' expectations of $199.56 million. On average, equities analysts expect that WaFd, Inc. will post 3.21 earnings per share for the current year.

WaFd Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Friday, August 21st will be paid a dividend of $0.27 per share. The ex-dividend date is Friday, August 21st. This represents a $1.08 dividend on an annualized basis and a yield of 2.8%. WaFd's dividend payout ratio is 34.07%.

Analyst Ratings Changes

Several equities research analysts have issued reports on WAFD shares. Keefe, Bruyette & Woods raised their target price on WaFd from $35.00 to $38.00 and gave the stock a "market perform" rating in a research note on Monday, April 20th. DA Davidson upped their price target on WaFd from $38.00 to $40.00 and gave the company a "neutral" rating in a research note on Monday, July 20th. Weiss Ratings upgraded WaFd from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, May 22nd. Zacks Research downgraded WaFd from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 22nd. Finally, Piper Sandler boosted their price objective on shares of WaFd from $30.50 to $36.00 and gave the company a "neutral" rating in a report on Monday, April 20th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, WaFd presently has a consensus rating of "Hold" and a consensus target price 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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