WaFd (NASDAQ:WAFD) Sees Strong Trading Volume – Here’s Why

WaFd, Inc. (NASDAQ:WAFD) saw unusually-strong trading volume on Thursday . Approximately 1,656,600 shares changed hands during trading, an increase of 199% from the previous session’s volume of 553,611 shares.The stock last traded at $31.5260 and had previously closed at $31.24.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WAFD. Wall Street Zen cut WaFd from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Keefe, Bruyette & Woods lowered their price target on WaFd from $32.00 to $31.00 and set a “market perform” rating for the company in a research report on Monday, October 20th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of WaFd in a research report on Wednesday, October 8th. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $32.00.

WaFd Stock Up 0.9%

The company has a market cap of $2.48 billion, a P/E ratio of 11.94 and a beta of 0.89. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.98 and a current ratio of 0.96. The business’s fifty day moving average is $30.01 and its two-hundred day moving average is $29.88.

WaFd (NASDAQ:WAFD) last posted its quarterly earnings results on Tuesday, October 28th. The bank reported $0.72 earnings per share for the quarter. WaFd had a net margin of 16.02% and a return on equity of 8.40%. The firm had revenue of $169.23 million during the quarter. Equities analysts predict that WaFd, Inc. will post 2.56 EPS for the current year.

WaFd Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Friday, November 21st will be paid a $0.27 dividend. The ex-dividend date is Friday, November 21st. This represents a $1.08 dividend on an annualized basis and a yield of 3.4%. WaFd’s dividend payout ratio (DPR) is 40.91%.

Insider Activity

In related 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.46% of the stock is currently owned by insiders.

Institutional Investors Weigh In On WaFd

Institutional investors have recently added to or reduced their stakes in the business. Brooklyn Investment Group purchased a new stake in shares of WaFd in the 1st quarter worth about $28,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of WaFd by 42.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,174 shares of the bank’s stock worth $34,000 after purchasing an additional 352 shares during the last quarter. McIlrath & Eck LLC lifted its position in WaFd by 57.6% during the second quarter. McIlrath & Eck LLC now owns 1,327 shares of the bank’s stock worth $39,000 after buying an additional 485 shares during the period. Hantz Financial Services Inc. grew its holdings in WaFd by 604.5% in the third quarter. Hantz Financial Services Inc. now owns 1,423 shares of the bank’s stock valued at $43,000 after purchasing an additional 1,221 shares during the period. Finally, Danske Bank A S acquired a new position in WaFd during the 3rd quarter worth $51,000. 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.