WaFd (NASDAQ:WAFD) Sets New 52-Week Low on Analyst Downgrade

Key Points

• WaFd shares hit a new 52-week low of $28.10 after Weiss Ratings downgraded the stock from “buy” to “hold.” The broader analyst consensus is also “Hold,” with an average price target of $32.50.
• Recent analyst actions were mixed: DA Davidson set a $31 target, Piper Sandler and Keefe, Bruyette & Woods lowered their targets to $31 and $34, respectively, while Zacks Research upgraded the stock to “strong buy.”
• WaFd exceeded quarterly expectations, reporting $0.85 in EPS and $220.44 million in revenue, while maintaining a quarterly dividend of $0.27 per share—an annualized yield of approximately 3.7%.

WaFd, Inc. (NASDAQ:WAFD - Get Free Report) shares reached a new 52-week low during mid-day trading on Tuesday after Weiss Ratings downgraded the stock from a buy (b-) rating to a hold (c+) rating. The company traded as low as $28.10 and last traded at $28.9250, with a volume of 19,880 shares. The stock had previously closed at $28.42.

Other equities analysts have also issued reports about the stock. DA Davidson set a $31.00 price target on shares of WaFd in a research report on Monday. Piper Sandler dropped their price objective on shares of WaFd from $32.00 to $31.00 and set a "neutral" rating for the company in a report on Monday. Zacks Research upgraded WaFd from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 5th. Finally, Keefe, Bruyette & Woods reduced their target price on WaFd from $40.00 to $34.00 and set a "market perform" rating on the stock in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $32.50.

Institutional Trading of WaFd

Hedge funds have recently modified their holdings of the company. Baron Wealth Management LLC boosted its position in WaFd by 3.8% during the first quarter. Baron Wealth Management LLC now owns 8,720 shares of the bank's stock worth $274,000 after purchasing an additional 323 shares during the period. HB Wealth Management LLC raised its holdings in WaFd by 3.5% in the 2nd quarter. HB Wealth Management LLC now owns 10,514 shares of the bank's stock valued at $403,000 after acquiring an additional 356 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in WaFd in the 2nd quarter valued at $26,000. Assetmark Inc. raised its holdings 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 acquiring an additional 905 shares in the last quarter. Finally, Amundi lifted its position in shares of WaFd by 9.4% during the 1st quarter. Amundi now owns 12,668 shares of the bank's stock valued at $398,000 after acquiring an additional 1,093 shares during the period. 83.71% of the stock is owned by hedge funds and other institutional investors.

WaFd Trading Up 1.4%

The stock has a market capitalization of $2.13 billion, a P/E ratio of 8.97 and a beta of 0.89. 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 business has a 50-day moving average price of $33.32 and a two-hundred day moving average price of $35.00.

WaFd (NASDAQ:WAFD - Get Free Report) last issued its quarterly earnings results on Thursday, October 15th. The bank reported $0.85 EPS for the quarter, topping analysts' consensus estimates of $0.84 by $0.01. WaFd had a return on equity of 9.36% and a net margin of 18.04%. The company had revenue of $220.44 million for the quarter, compared to analysts' expectations of $203.66 million. On average, analysts expect that WaFd, Inc. will post 3.52 EPS for the current fiscal year.

WaFd Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 4th. Shareholders of record on Friday, August 21st were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Friday, August 21st. WaFd's dividend payout ratio is presently 33.64%.

WaFd Company Profile

WaFd, Inc is a bank holding company headquartered in Seattle, Washington, and the parent company of WaFd Bank. Founded in 1917 as Washington Federal, the company adopted the WaFd name in 2024. WaFd Bank provides banking and financial services to individuals, families, businesses and nonprofit organizations.

The bank offers deposit accounts, residential mortgage lending, home equity financing, commercial real estate loans, commercial and industrial lending, construction financing and consumer banking products.

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