Principal Financial Group Inc. Decreases Holdings in WaFd, Inc. $WAFD

Principal Financial Group Inc. reduced its position in WaFd, Inc. (NASDAQ:WAFD) by 4.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 380,466 shares of the bank’s stock after selling 17,010 shares during the quarter. Principal Financial Group Inc. owned about 0.48% of WaFd worth $11,524,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in WAFD. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of WaFd by 42.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,174 shares of the bank’s stock valued at $34,000 after purchasing an additional 352 shares during the last quarter. McIlrath & Eck LLC raised its stake in WaFd by 57.6% in the second quarter. McIlrath & Eck LLC now owns 1,327 shares of the bank’s stock valued at $39,000 after buying an additional 485 shares during the last quarter. Blue Trust Inc. raised its stake in WaFd by 36.0% in the third quarter. Blue Trust Inc. now owns 1,837 shares of the bank’s stock valued at $56,000 after buying an additional 486 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in WaFd by 712.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,901 shares of the bank’s stock worth $56,000 after acquiring an additional 1,667 shares in the last quarter. Finally, Sprucegrove Investment Management Ltd. acquired a new position in shares of WaFd during the second quarter valued at about $102,000. 83.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity at WaFd

In related news, EVP Cathy E. Cooper sold 5,300 shares of the stock in a transaction on Friday, February 6th. The shares were sold at an average price of $33.77, for a total transaction of $178,981.00. Following the sale, the executive vice president directly owned 94,755 shares of the company’s stock, valued at approximately $3,199,876.35. This represents a 5.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Brent J. Beardall purchased 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were purchased at an average price of $16.85 per share, for a total transaction of $50,550.00. Following the transaction, the chief executive officer owned 6,000 shares of the company’s stock, valued at $101,100. This trade represents a 100.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 1.49% of the company’s stock.

WaFd Price Performance

NASDAQ:WAFD opened at $32.98 on Thursday. The firm’s fifty day moving average is $32.78 and its two-hundred day moving average is $31.26. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of 11.41 and a beta of 0.86. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.95 and a current ratio of 0.95. WaFd, Inc. has a one year low of $23.75 and a one year high of $34.29.

WaFd (NASDAQ:WAFD) last issued its quarterly earnings data on Friday, January 16th. The bank reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.01). WaFd had a net margin of 17.45% and a return on equity of 8.67%. The company had revenue of $188.32 million during the quarter, compared to analyst estimates of $193.36 million. Research analysts expect that WaFd, Inc. will post 2.56 EPS for the current year.

WaFd Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 3.3%. The ex-dividend date is Friday, February 13th. WaFd’s dividend payout ratio is currently 37.37%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Royal Bank Of Canada set a $34.00 target price on shares of WaFd in a research report on Tuesday, January 20th. Wall Street Zen upgraded shares of WaFd from a “sell” rating to a “hold” rating in a research note on Sunday. Piper Sandler cut their target price on WaFd from $33.50 to $30.50 and set a “neutral” rating on the stock in a research report on Tuesday, January 20th. Keefe, Bruyette & Woods lifted their price target on WaFd from $31.00 to $34.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 20th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of WaFd in a research note on Monday, December 29th. Five equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, WaFd has an average rating of “Hold” and an average price target of $32.90.

WaFd Profile

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.