WaFd (NASDAQ:WAFD) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Key Points

• Keefe, Bruyette & Woods raised its price target on WaFd from $34 to $35 and maintained a "market perform" rating, implying roughly a 5.35% upside from the current price.
• Analyst consensus remains a Hold with a $33.10 average target; WaFd trades near $33.22, with a market cap of $2.52 billion and a P/E of 11.47.
• Most recent quarter showed EPS of $0.75 (missed by $0.01) and revenue of $188.3M (below estimates); an EVP sold 5,300 shares and institutional ownership stands high at 83.71%.

WaFd (NASDAQ:WAFD - Get Free Report) had its price target upped by investment analysts at Keefe, Bruyette & Woods from $34.00 to $35.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a "market perform" rating on the bank's stock. Keefe, Bruyette & Woods' price objective indicates a potential upside of 5.35% from the stock's current price.

Other analysts have also issued research reports about the stock. Piper Sandler lowered their price target on shares of WaFd from $33.50 to $30.50 and set a "neutral" rating on the stock in a research report on Tuesday, January 20th. Wall Street Zen raised shares of WaFd from a "sell" rating to a "hold" rating in a research report on Sunday, February 8th. Royal Bank Of Canada set a $34.00 price target on shares of WaFd in a research report on Tuesday, January 20th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of WaFd in a report on Monday, December 29th. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $33.10.

WaFd Stock Performance

Shares of NASDAQ WAFD traded up $0.40 during midday trading on Thursday, hitting $33.22. The company's stock had a trading volume of 529,690 shares, compared to its average volume of 650,204. The stock has a fifty day moving average price of $32.02 and a 200 day moving average price of $31.53. WaFd has a one year low of $23.75 and a one year high of $34.29. 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 has a market capitalization of $2.52 billion, a price-to-earnings ratio of 11.47 and a beta of 0.83.

WaFd (NASDAQ:WAFD - Get Free Report) last posted its quarterly earnings results on Friday, January 16th. The bank reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.01). WaFd had a net margin of 17.45% and a return on equity of 8.67%. The business had revenue of $188.32 million during the quarter, compared to the consensus estimate of $193.36 million. On average, research analysts forecast that WaFd will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Cathy E. Cooper sold 5,300 shares of the company's stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $33.77, for a total transaction of $178,981.00. Following the sale, the executive vice president owned 94,755 shares of the company's stock, valued at approximately $3,199,876.35. This represents a 5.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.49% of the company's stock.

Institutional Trading of WaFd

Hedge funds and other institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. increased 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 worth $34,000 after buying an additional 352 shares during the last quarter. McIlrath & Eck LLC increased 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 worth $39,000 after buying an additional 485 shares during the last quarter. Hantz Financial Services Inc. increased 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 worth $43,000 after buying an additional 1,221 shares during the last quarter. Danske Bank A S bought a new position in shares of WaFd in the 3rd quarter worth $51,000. Finally, Blue Trust Inc. increased 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 worth $56,000 after buying an additional 486 shares during the last quarter. Institutional investors own 83.71% of the company's stock.

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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