WaFd (NASDAQ:WAFD) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

WaFd (NASDAQ:WAFD - Get Free Report) announced its quarterly earnings data on Thursday. The bank reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.06, Zacks reports. WaFd had a return on equity of 8.57% and a net margin of 15.57%. The company had revenue of $186.26 million during the quarter, compared to the consensus estimate of $184.47 million.

WaFd Stock Up 0.9%

Shares of WAFD stock traded up $0.27 on Monday, reaching $30.00. 437,246 shares of the company's stock traded hands, compared to its average volume of 535,749. WaFd has a 12-month low of $23.75 and a 12-month high of $38.62. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.02 and a current ratio of 0.98. The company has a market capitalization of $2.40 billion, a P/E ratio of 11.40 and a beta of 0.84. The business's 50 day moving average price is $29.34 and its two-hundred day moving average price is $29.08.

WaFd Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend was Friday, May 23rd. WaFd's dividend payout ratio (DPR) is presently 41.06%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Stephens increased their price objective on WaFd from $32.00 to $33.00 and gave the company an "equal weight" rating in a report on Monday. DA Davidson upped 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. Piper Sandler boosted their price target on shares of WaFd from $30.00 to $31.00 and gave the stock a "neutral" rating in a research note on Monday. Keefe, Bruyette & Woods upped their price objective on shares of WaFd from $30.00 to $32.00 and gave the company a "market perform" rating in a research note on Monday. Finally, Wall Street Zen raised shares of WaFd from a "sell" rating to a "hold" rating in a research note on Friday. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, WaFd presently has an average rating of "Hold" and an average target price of $32.25.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of WaFd by 9.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 246,467 shares of the bank's stock valued at $7,044,000 after purchasing an additional 20,865 shares during the period. Jane Street Group LLC grew its stake in shares of WaFd by 862.6% during the first quarter. Jane Street Group LLC now owns 69,306 shares of the bank's stock worth $1,981,000 after buying an additional 62,106 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in WaFd by 26.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,094 shares of the bank's stock valued at $1,375,000 after buying an additional 10,092 shares during the period. AQR Capital Management LLC raised its holdings in shares of WaFd by 271.2% during the first quarter. AQR Capital Management LLC now owns 30,794 shares of the bank's stock valued at $867,000 after purchasing an additional 22,499 shares during the period. Finally, Royal Bank of Canada raised its holdings in shares of WaFd by 14.5% during the first quarter. Royal Bank of Canada now owns 22,011 shares of the bank's stock valued at $629,000 after purchasing an additional 2,783 shares during the period. Hedge funds and other institutional investors own 83.71% of the company's stock.

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.