WaFd's (WAFD) "Hold (C)" Rating Reiterated at Weiss Ratings

Key Points

• Weiss Ratings has reiterated WaFd's stock rating as "Hold (C)" in a recent research report, with a consensus target price of $32.25.
• Several analysts have adjusted their price targets for WaFd, with increases ranging from $29.00 to $33.00 from different research firms.
• WaFd reported a quarterly earnings per share (EPS) of $0.73, surpassing analysts’ expectations, along with revenues of $186.26 million.

WaFd (NASDAQ:WAFD - Get Free Report)'s stock had its "hold (c)" rating reiterated by investment analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Several other research analysts have also weighed in on the company. Stephens boosted their price target on WaFd from $32.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Monday, July 21st. DA Davidson increased their target price on WaFd from $29.00 to $33.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Keefe, Bruyette & Woods upped their target price on WaFd from $30.00 to $32.00 and gave the stock a "market perform" rating in a report on Monday, July 21st. Piper Sandler raised their target price on WaFd from $30.00 to $31.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Finally, Wall Street Zen upgraded WaFd from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $32.25.

WaFd Price Performance

WaFd stock traded down $0.24 during mid-day trading on Wednesday, hitting $29.16. 368,820 shares of the company were exchanged, compared to its average volume of 537,053. WaFd has a 1-year low of $23.75 and a 1-year high of $38.62. The company has a market capitalization of $2.30 billion, a PE ratio of 11.09 and a beta of 0.88. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.71. The business has a fifty day moving average of $30.73 and a 200 day moving average of $29.41.

WaFd (NASDAQ:WAFD - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The bank reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.06. WaFd had a return on equity of 8.57% and a net margin of 15.57%.The business had revenue of $186.26 million for the quarter, compared to analysts' expectations of $184.47 million. As a group, sell-side analysts expect that WaFd will post 2.56 earnings per share for the current year.

Insider Transactions at WaFd

In other WaFd news, Director Sean Singleton sold 1,004 shares of WaFd stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $31.71, for a total transaction of $31,836.84. Following the completion of the sale, the director owned 9,278 shares of the company's stock, valued at $294,205.38. The trade was a 9.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.46% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. American Century Companies Inc. grew its holdings in shares of WaFd by 4.5% during the 2nd quarter. American Century Companies Inc. now owns 2,036,490 shares of the bank's stock worth $59,628,000 after acquiring an additional 87,956 shares during the period. Systematic Financial Management LP grew its holdings in shares of WaFd by 0.7% during the 2nd quarter. Systematic Financial Management LP now owns 1,541,973 shares of the bank's stock worth $45,149,000 after acquiring an additional 10,646 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of WaFd by 4.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,229,464 shares of the bank's stock worth $35,999,000 after acquiring an additional 49,049 shares during the period. Invesco Ltd. grew its holdings in shares of WaFd by 124.3% during the 1st quarter. Invesco Ltd. now owns 1,107,097 shares of the bank's stock worth $31,641,000 after acquiring an additional 613,596 shares during the period. Finally, William Blair Investment Management LLC grew its holdings in shares of WaFd by 8.3% during the 2nd quarter. William Blair Investment Management LLC now owns 962,787 shares of the bank's stock worth $28,190,000 after acquiring an additional 74,017 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.

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