WaFd (NASDAQ:WAFD) Sets New 12-Month High on Earnings Beat

Key Points

• 52-week high: WaFd shares rose to $34.42 (up about 6.7%) after beating expectations with Q EPS of $0.82 vs. $0.74 consensus and revenue of $197.38 million vs. $190.51 million expected.
• Dividend: The company paid a quarterly dividend of $0.27 (annualized $1.08) for a yield of 3.1% and a payout ratio of 37.37%.
• Analyst stance: Wall Street consensus is a Hold with an average price target of $33.10, reflecting mixed analyst ratings and target changes.

WaFd, Inc. (NASDAQ:WAFD - Get Free Report)'s share price reached a new 52-week high during trading on Friday following a stronger than expected earnings report. The company traded as high as $34.39 and last traded at $34.42, with a volume of 137727 shares trading hands. The stock had previously closed at $32.51.

The bank reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.08. WaFd had a net margin of 17.45% and a return on equity of 8.67%. The firm had revenue of $197.38 million during the quarter, compared to analysts' expectations of $190.51 million. During the same quarter in the previous year, the company posted $0.17 EPS.

WaFd Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Friday, February 13th. WaFd's payout ratio is currently 37.37%.

Wall Street Analysts Forecast Growth

WAFD has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of WaFd in a report on Monday, December 29th. Piper Sandler lowered their target price on shares of WaFd from $33.50 to $30.50 and set a "neutral" rating for the company in a report on Tuesday, January 20th. Keefe, Bruyette & Woods lifted their target price on shares of WaFd from $34.00 to $35.00 and gave the stock a "market perform" rating in a report on Thursday, April 9th. Wall Street Zen raised shares of WaFd from a "sell" rating to a "hold" rating in a report on Sunday, February 8th. Finally, Royal Bank Of Canada set a $34.00 target price on shares of WaFd in a report on Tuesday, January 20th. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $33.10.

Insider Activity

In other news, EVP Cathy E. Cooper sold 5,300 shares of the business's stock in a transaction on Friday, February 6th. The shares were sold at an average price of $33.77, for a total value of $178,981.00. Following the completion of the transaction, the executive vice president owned 94,755 shares of the company's stock, valued at $3,199,876.35. The trade was a 5.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.49% of the stock is owned by company insiders.

Hedge Funds Weigh In On WaFd

Institutional investors and hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its holdings in shares of WaFd by 42.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,174 shares of the bank's stock valued at $34,000 after buying an additional 352 shares during the period. McIlrath & Eck LLC grew its holdings in shares of WaFd by 57.6% in the 2nd quarter. McIlrath & Eck LLC now owns 1,327 shares of the bank's stock valued at $39,000 after buying an additional 485 shares during the period. Hantz Financial Services Inc. grew its holdings in shares of WaFd by 604.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,423 shares of the bank's stock valued at $43,000 after buying an additional 1,221 shares during the period. Danske Bank A S acquired a new position in shares of WaFd in the 3rd quarter valued at $51,000. Finally, Blue Trust Inc. grew its holdings in shares of WaFd by 36.0% in the 3rd quarter. Blue Trust Inc. now owns 1,837 shares of the bank's stock valued at $56,000 after buying an additional 486 shares during the period. Institutional investors and hedge funds own 83.71% of the company's stock.

WaFd Stock Up 6.7%

The company has a market cap of $2.63 billion, a price-to-earnings ratio of 11.98 and a beta of 0.83. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.89. The firm's fifty day moving average price is $31.97 and its 200-day moving average price is $31.60.

WaFd Company Profile

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.