Zacks Research Issues Pessimistic Estimate for WaFd Earnings

WaFd, Inc. (NASDAQ:WAFD) – Zacks Research decreased their FY2027 earnings estimates for shares of WaFd in a report issued on Thursday, November 5th. Zacks Research analyst Team now forecasts that the bank will earn $3.22 per share for the year, down from their prior estimate of $3.36. Zacks Research currently has a “Hold” rating on the stock. The consensus estimate for WaFd’s current full-year earnings is $3.30 per share.

WaFd (NASDAQ:WAFD) last released its quarterly earnings data on Friday, October 16th. The bank reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.01. The business had revenue of $220.44 million during the quarter, compared to analysts’ expectations of $203.66 million. WaFd had a net margin of 18.04% and a return on equity of 9.37%.

Other analysts have also recently issued reports about the company. Weiss Ratings cut WaFd from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, October 19th. Keefe, Bruyette & Woods lowered their price objective on WaFd from $40.00 to $34.00 and set a “market perform” rating for the company in a research report on Monday, October 19th. Piper Sandler lowered their price objective on WaFd from $32.00 to $31.00 and set a “neutral” rating for the company in a research report on Monday, October 19th. Finally, DA Davidson set a $31.00 price objective on WaFd in a report on Monday, October 19th. Five research analysts have rated the stock with a Hold rating. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $32.50.

WaFd Stock Performance

Shares of WAFD stock opened at $29.68 on Monday. The company has a market cap of $2.20 billion, a P/E ratio of 9.30 and a beta of 0.90. The firm has a fifty day moving average price of $31.08 and a 200 day moving average price of $33.85. The company has a current ratio of 0.94, a quick ratio of 0.92 and a debt-to-equity ratio of 0.92. WaFd has a 12 month low of $28.10 and a 12 month high of $39.49.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Hantz Financial Services Inc. grew its position in shares of WaFd by 135.2% in the 3rd quarter. Hantz Financial Services Inc. now owns 5,412 shares of the bank’s stock valued at $162,000 after buying an additional 3,111 shares during the last quarter. Royce & Associates LP purchased a new stake in WaFd in the third quarter valued at $206,000. IFG Advisory LLC lifted its position in WaFd by 21.0% in the third quarter. IFG Advisory LLC now owns 23,972 shares of the bank’s stock valued at $717,000 after acquiring an additional 4,166 shares during the last quarter. Maryland State Retirement & Pension System lifted its position in WaFd by 51.1% in the third quarter. Maryland State Retirement & Pension System now owns 16,355 shares of the bank’s stock valued at $490,000 after acquiring an additional 5,534 shares during the last quarter. Finally, Illinois Municipal Retirement Fund boosted its stake in WaFd by 3.2% in the third quarter. Illinois Municipal Retirement Fund now owns 40,382 shares of the bank’s stock valued at $1,209,000 after acquiring an additional 1,254 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

WaFd Company Profile

WaFd, Inc is the bank holding company for WaFd Bank, a regional financial institution serving individuals, businesses and organizations. The bank offers deposit accounts, including checking and savings, as well as consumer and commercial lending, mortgage services and cash management.

Its lending activities include residential mortgages and loans to businesses, including commercial real estate financing. WaFd Bank operates across the western United States, with a presence in states including Washington, Oregon, Idaho, Arizona, Nevada, Utah, New Mexico and Texas.

The bank traces its history to 1917, when it was established in Seattle as a savings and loan association.