Teachers Advisors LLC Increases Position in Washington Federal, Inc. (NASDAQ:WAFD)
Teachers Advisors LLC increased its stake in Washington Federal, Inc. (NASDAQ:WAFD) by 0.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 664,650 shares of the bank’s stock after buying an additional 4,104 shares during the period. Teachers Advisors LLC’s holdings in Washington Federal were worth $22,000,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in shares of Washington Federal during the fourth quarter worth $50,836,000. State of Tennessee Treasury Department bought a new position in shares of Washington Federal during the first quarter worth approximately $6,289,000. American Century Companies Inc. bought a new position in shares of Washington Federal during the first quarter worth approximately $5,888,000. Foundry Partners LLC boosted its position in shares of Washington Federal by 14.5% in the first quarter. Foundry Partners LLC now owns 600,185 shares of the bank’s stock worth $19,866,000 after buying an additional 75,824 shares during the period. Finally, Harbour Investment Management LLC bought a new position in shares of Washington Federal during the first quarter worth approximately $2,157,000. Hedge funds and other institutional investors own 83.94% of the company’s stock.
Washington Federal, Inc. (WAFD) traded up 0.15% during midday trading on Monday, reaching $33.35. The company’s stock had a trading volume of 334,591 shares. Washington Federal, Inc. has a 12-month low of $24.72 and a 12-month high of $35.95. The firm has a 50 day moving average price of $33.39 and a 200-day moving average price of $33.27. The company has a market cap of $2.95 billion, a P/E ratio of 17.54 and a beta of 1.12.
Washington Federal (NASDAQ:WAFD) last issued its earnings results on Tuesday, July 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.02. Washington Federal had a net margin of 29.06% and a return on equity of 8.57%. The company had revenue of $122.54 million during the quarter, compared to analysts’ expectations of $120.35 million. On average, equities research analysts predict that Washington Federal, Inc. will post $1.91 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Friday, August 4th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, August 2nd. This represents a $0.60 annualized dividend and a yield of 1.80%. Washington Federal’s payout ratio is currently 31.41%.
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A number of brokerages have commented on WAFD. Zacks Investment Research raised Washington Federal from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research note on Monday, June 12th. BidaskClub upgraded Washington Federal from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Keefe, Bruyette & Woods restated a “hold” rating and set a $34.00 price target on shares of Washington Federal in a research report on Tuesday, July 25th. Finally, Piper Jaffray Companies restated a “neutral” rating and set a $30.00 price target (down from $32.00) on shares of Washington Federal in a research report on Monday, April 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Washington Federal has an average rating of “Hold” and a consensus target price of $34.00.
In other Washington Federal news, Director Anna C. Johnson sold 4,200 shares of Washington Federal stock in a transaction on Friday, May 26th. The shares were sold at an average price of $32.25, for a total value of $135,450.00. Following the transaction, the director now owns 28,590 shares in the company, valued at approximately $922,027.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Thomas J. Kelley sold 6,100 shares of Washington Federal stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $33.72, for a total transaction of $205,692.00. Following the completion of the transaction, the director now owns 21,185 shares in the company, valued at approximately $714,358.20. The disclosure for this sale can be found here. 1.28% of the stock is currently owned by insiders.
About Washington Federal
Washington Federal, Inc is a bank holding company. The Company conducts its operations through a federally insured national bank subsidiary, Washington Federal, National Association (the Bank). The business of the Bank consists primarily of accepting deposits from the general public and investing these funds in loans of various types, including first lien mortgages on single-family dwellings, construction loans, land acquisition and development loans, loans on multi-family, commercial real estate and other income producing properties, home equity loans and business loans.
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