Zacks: Brokerages Anticipate Washington Federal, Inc. (WAFD) to Announce $0.48 EPS
Equities research analysts expect Washington Federal, Inc. (NASDAQ:WAFD) to announce earnings of $0.48 per share for the current quarter, according to Zacks. Two analysts have issued estimates for Washington Federal’s earnings, with the lowest EPS estimate coming in at $0.47 and the highest estimate coming in at $0.49. Washington Federal posted earnings per share of $0.49 in the same quarter last year, which suggests a negative year over year growth rate of 2%. The company is scheduled to report its next earnings report on Wednesday, October 18th.
According to Zacks, analysts expect that Washington Federal will report full year earnings of $1.90 per share for the current year, with EPS estimates ranging from $1.89 to $1.91. For the next financial year, analysts expect that the company will report earnings of $2.05 per share, with EPS estimates ranging from $2.01 to $2.09. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Washington Federal.
Washington Federal (NASDAQ:WAFD) last announced its earnings results on Tuesday, July 18th. The bank reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.02. The business had revenue of $122.54 million for the quarter, compared to the consensus estimate of $120.35 million. Washington Federal had a net margin of 29.06% and a return on equity of 8.57%.
WAFD has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Washington Federal from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research report on Friday, September 1st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $34.00 target price on shares of Washington Federal in a research report on Wednesday, May 24th. Finally, BidaskClub cut shares of Washington Federal from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $33.50.
Washington Federal (NASDAQ:WAFD) traded up 1.185% on Friday, reaching $32.025. 73,660 shares of the company traded hands. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 16.846 and a beta of 1.13. Washington Federal has a 1-year low of $25.15 and a 1-year high of $35.95. The stock has a 50 day moving average of $31.92 and a 200-day moving average of $32.85.
In other Washington Federal news, Director Thomas J. Kelley sold 6,100 shares of the company’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $33.72, for a total value of $205,692.00. Following the transaction, the director now owns 21,185 shares of the company’s stock, valued at $714,358.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.28% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cetera Investment Advisers acquired a new position in Washington Federal in the second quarter valued at about $1,437,000. Public Employees Retirement System of Ohio lifted its position in Washington Federal by 1.1% in the second quarter. Public Employees Retirement System of Ohio now owns 5,522 shares of the bank’s stock valued at $183,000 after buying an additional 62 shares during the last quarter. Colony Group LLC lifted its position in Washington Federal by 1.3% in the second quarter. Colony Group LLC now owns 66,222 shares of the bank’s stock valued at $2,199,000 after buying an additional 867 shares during the last quarter. Koch Industries Inc. acquired a new position in Washington Federal in the second quarter valued at about $213,000. Finally, Sterling Capital Management LLC lifted its position in Washington Federal by 7.0% in the second quarter. Sterling Capital Management LLC now owns 45,859 shares of the bank’s stock valued at $1,523,000 after buying an additional 2,995 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors.
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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