Washington Federal (WAFD) Upgraded to Buy by ValuEngine
ValuEngine upgraded shares of Washington Federal (NASDAQ:WAFD) from a hold rating to a buy rating in a research report report published on Wednesday morning.
Other research analysts have also issued reports about the company. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $38.00 target price on shares of Washington Federal in a research report on Thursday, January 18th. DA Davidson reaffirmed a hold rating and issued a $39.00 target price on shares of Washington Federal in a research report on Thursday, January 18th. Finally, BidaskClub raised Washington Federal from a sell rating to a hold rating in a research report on Tuesday, January 16th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $37.40.
Shares of Washington Federal (NASDAQ WAFD) traded up $0.45 on Wednesday, hitting $35.90. The company had a trading volume of 292,894 shares, compared to its average volume of 367,474. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.20. The stock has a market cap of $3,086.47, a price-to-earnings ratio of 17.34, a P/E/G ratio of 1.47 and a beta of 1.13. Washington Federal has a twelve month low of $29.80 and a twelve month high of $37.70.
Washington Federal announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 24th that authorizes the company to repurchase 5,000,000 shares. This repurchase authorization authorizes the bank to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were issued a $0.17 dividend. This is an increase from Washington Federal’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 1.89%. The ex-dividend date was Thursday, February 8th. Washington Federal’s dividend payout ratio is currently 32.85%.
A number of hedge funds and other institutional investors have recently made changes to their positions in WAFD. Deutsche Bank AG increased its holdings in Washington Federal by 387.0% in the 4th quarter. Deutsche Bank AG now owns 672,609 shares of the bank’s stock valued at $23,034,000 after purchasing an additional 534,504 shares in the last quarter. Millennium Management LLC increased its holdings in Washington Federal by 576.0% in the 4th quarter. Millennium Management LLC now owns 386,926 shares of the bank’s stock valued at $13,252,000 after purchasing an additional 329,688 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Washington Federal by 487.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 311,752 shares of the bank’s stock valued at $10,584,000 after purchasing an additional 258,654 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Washington Federal by 217.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 328,466 shares of the bank’s stock valued at $11,250,000 after acquiring an additional 225,038 shares in the last quarter. Finally, BlackRock Inc. grew its stake in shares of Washington Federal by 1.9% during the fourth quarter. BlackRock Inc. now owns 9,869,149 shares of the bank’s stock valued at $338,017,000 after acquiring an additional 186,518 shares in the last quarter. Hedge funds and other institutional investors own 83.22% of the company’s stock.
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Washington Federal Company Profile
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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