WaFd (NASDAQ:WAFD) Announces Earnings Results, Misses Estimates By $0.01 EPS

WaFd (NASDAQ:WAFD) announced its quarterly earnings data on Thursday. The bank reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.01), Zacks reports. WaFd had a return on equity of 8.40% and a net margin of 16.02%.The business had revenue of $191.37 million for the quarter, compared to analyst estimates of $193.36 million.

WaFd Stock Performance

WAFD stock traded down $1.34 during trading on Friday, hitting $32.39. 968,974 shares of the company’s stock traded hands, compared to its average volume of 463,386. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.64. WaFd has a 52 week low of $23.75 and a 52 week high of $33.92. The stock has a fifty day moving average price of $32.28 and a two-hundred day moving average price of $30.96. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of 12.27 and a beta of 0.86.

WaFd Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Friday, November 21st were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Friday, November 21st. WaFd’s dividend payout ratio (DPR) is currently 40.91%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on WAFD shares. Wall Street Zen upgraded WaFd from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of WaFd in a research report on Monday, December 29th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of WaFd from $32.00 to $31.00 and set a “market perform” rating on the stock in a report on Monday, October 20th. Five research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $32.00.

Insider Transactions at WaFd

In related news, CEO Brent J. Beardall bought 3,000 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were bought at an average cost of $16.85 per share, for a total transaction of $50,550.00. Following the completion of the purchase, the chief executive officer owned 6,000 shares of the company’s stock, valued at $101,100. This represents a 100.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.49% of the stock is owned by corporate insiders.

Institutional Trading of WaFd

Hedge funds have recently bought and sold shares of the company. CIBC Bancorp USA Inc. acquired a new position in WaFd during the third quarter worth about $255,000. Danske Bank A S acquired a new position in shares of WaFd in the 3rd quarter worth approximately $51,000. Dark Forest Capital Management LP raised its holdings in shares of WaFd by 7.0% in the 3rd quarter. Dark Forest Capital Management LP now owns 119,208 shares of the bank’s stock worth $3,611,000 after purchasing an additional 7,761 shares in the last quarter. Verition Fund Management LLC lifted its stake in WaFd by 10.5% during the third quarter. Verition Fund Management LLC now owns 54,304 shares of the bank’s stock valued at $1,645,000 after purchasing an additional 5,148 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in WaFd by 1,533.5% during the third quarter. Millennium Management LLC now owns 146,578 shares of the bank’s stock worth $4,440,000 after buying an additional 137,605 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors.

About WaFd

Washington Federal, Inc, doing business as WaFd Bank, is a publicly traded bank holding company headquartered in Seattle, Washington. Through its subsidiary, WaFd Bank, the company provides a range of banking and financial services to individuals, small-to-medium enterprises, and commercial clients. Established in 1917 as Ballard Savings & Loan in Seattle, the institution expanded over decades to serve customers across the Western United States under the Washington Federal name and has operated as a public company since the early 1980s.

WaFd Bank’s core offerings encompass deposit accounts such as checking, savings, money market, and certificates of deposit, alongside consumer and commercial lending products.