WaFd, Inc. (NASDAQ:WAFD) to Issue $0.27 Quarterly Dividend

Key Points

• WaFd declared a quarterly dividend of $0.27 per share, payable September 4 to shareholders of record on August 21, representing a $1.08 annualized dividend and approximately a 2.9% yield.
• The dividend appears well covered, with a current payout ratio of 35.8% and an expected forward payout ratio of 32.0%, based on projected earnings of $3.38 per share.
• Analysts maintain a generally neutral view: four rate the stock “Hold” and one rates it “Buy,” producing a consensus “Hold” rating and a $37 price target, versus a recent share price of $37.62.

WaFd, Inc. (NASDAQ:WAFD - Get Free Report) announced a quarterly dividend on Tuesday, August 11th. Stockholders of record on Friday, August 21st will be paid a dividend of 0.27 per share by the bank on Friday, September 4th. This represents a c) dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, August 21st.

WaFd has raised its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 2 years. WaFd has a payout ratio of 35.8% meaning its dividend is sufficiently covered by earnings. Analysts expect WaFd to earn $3.38 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 32.0%.

WaFd Stock Performance

Shares of NASDAQ:WAFD traded down $0.44 during trading on Wednesday, hitting $37.62. 85,071 shares of the stock traded hands, compared to its average volume of 625,906. 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 company has a market cap of $2.78 billion, a price-to-earnings ratio of 11.88 and a beta of 0.84. The company has a fifty day moving average price of $37.22 and a two-hundred day moving average price of $34.59. WaFd has a 52-week low of $26.31 and a 52-week high of $39.49.

WaFd (NASDAQ:WAFD - Get Free Report) last posted its earnings results 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). The firm had revenue of $205.52 million during the quarter, compared to analyst estimates of $199.56 million. WaFd had a net margin of 18.47% and a return on equity of 8.98%. As a group, equities analysts predict that WaFd will post 3.21 EPS for the current year.

Analyst Ratings Changes

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source