Weiss Ratings Reaffirms "Hold (C)" Rating for WaFd (NASDAQ:WAFD)

Key Points

• Weiss Ratings has reaffirmed a "Hold (C)" rating for WaFd (NASDAQ: WAFD), indicating a cautious outlook for the stock.
• Analysts have varying target prices for WaFd, with recent adjustments leading to a consensus price target of $32.00.
• WaFd reported earnings of $0.72 per share, missing the consensus estimate, and had a revenue of $190.55 million for the quarter.

WaFd (NASDAQ:WAFD - Get Free Report)'s stock had its "hold (c)" rating reiterated by stock analysts at Weiss Ratings in a research note issued on Friday,Weiss Ratings reports.

A number of other analysts have also recently weighed in on WAFD. Piper Sandler raised their target price on shares of WaFd from $30.00 to $31.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Stephens raised their price objective on WaFd from $32.00 to $33.00 and gave the stock an "equal weight" rating in a research note on Monday, July 21st. Keefe, Bruyette & Woods decreased their target price on WaFd from $32.00 to $31.00 and set a "market perform" rating on the stock in a report on Monday. Wall Street Zen downgraded WaFd from a "hold" rating to a "sell" rating in a report on Saturday, October 18th. Finally, DA Davidson increased their price target on WaFd from $29.00 to $33.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. 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 a consensus price target of $32.00.

WaFd Price Performance

WaFd stock traded up $0.59 during midday trading on Friday, hitting $29.57. The company's stock had a trading volume of 409,919 shares, compared to its average volume of 537,362. The company has a quick ratio of 0.98, a current ratio of 0.96 and a debt-to-equity ratio of 0.64. The stock's 50-day moving average price is $30.49 and its 200-day moving average price is $29.52. WaFd has a 12 month low of $23.75 and a 12 month high of $38.62. The company has a market capitalization of $2.33 billion, a PE ratio of 11.20 and a beta of 0.88.

WaFd (NASDAQ:WAFD - Get Free Report) last posted its quarterly earnings data on Thursday, October 16th. The bank reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.03). The business had revenue of $190.55 million for the quarter, compared to the consensus estimate of $191.04 million. WaFd had a net margin of 16.02% and a return on equity of 8.40%. Analysts anticipate that WaFd will post 2.56 earnings per share for the current fiscal year.

Insider Activity at WaFd

In other news, Director Sean Singleton sold 1,004 shares of WaFd stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $31.71, for a total transaction of $31,836.84. Following the transaction, the director owned 9,278 shares in the company, valued at approximately $294,205.38. The trade was a 9.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.46% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On WaFd

A number of institutional investors have recently bought and sold shares of the business. KBC Group NV lifted its position in shares of WaFd by 12.7% in the first quarter. KBC Group NV now owns 4,239 shares of the bank's stock worth $121,000 after purchasing an additional 477 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in WaFd during the first quarter valued at approximately $340,000. Principal Financial Group Inc. grew its position in WaFd by 3.1% during the first quarter. Principal Financial Group Inc. now owns 461,593 shares of the bank's stock valued at $13,192,000 after purchasing an additional 13,972 shares in the last quarter. TD Private Client Wealth LLC increased its stake in WaFd by 35.2% in the 1st quarter. TD Private Client Wealth LLC now owns 2,002 shares of the bank's stock valued at $57,000 after buying an additional 521 shares during the period. Finally, Davidson Investment Advisors lifted its position in WaFd by 3.0% in the 1st quarter. Davidson Investment Advisors now owns 304,256 shares of the bank's stock worth $8,696,000 after buying an additional 8,732 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

WaFd Company Profile

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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