Washington Federal Inc. (NASDAQ:WAFD) has been given an average rating of “Hold” by the seven research firms that are currently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $37.40.
Several research firms have recently weighed in on WAFD. DA Davidson reiterated a “hold” rating and set a $39.00 target price on shares of Washington Federal in a research report on Thursday, January 18th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $38.00 price objective on shares of Washington Federal in a report on Thursday, January 18th. BidaskClub downgraded Washington Federal from a “hold” rating to a “sell” rating in a report on Wednesday, January 31st. Finally, ValuEngine upgraded Washington Federal from a “hold” rating to a “buy” rating in a report on Friday, December 1st.
Shares of Washington Federal (NASDAQ WAFD) opened at $34.70 on Thursday. Washington Federal has a 52-week low of $29.80 and a 52-week high of $37.70. The firm has a market capitalization of $3,095.05, a price-to-earnings ratio of 16.76, a PEG ratio of 1.48 and a beta of 1.14. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.03 and a current ratio of 1.03.
The company also recently disclosed 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 dividend yield of 1.96%. The ex-dividend date was Thursday, February 8th. Washington Federal’s payout ratio is presently 32.85%.
Washington Federal announced that its board has authorized a stock repurchase plan on Wednesday, January 24th that permits the company to repurchase 5,000,000 shares. This repurchase authorization permits the bank to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
Several hedge funds have recently added to or reduced their stakes in the stock. Xact Kapitalforvaltning AB bought a new stake in shares of Washington Federal in the fourth quarter valued at about $540,000. Balentine LLC bought a new stake in shares of Washington Federal in the fourth quarter valued at about $200,000. Segall Bryant & Hamill LLC raised its holdings in shares of Washington Federal by 9.9% in the fourth quarter. Segall Bryant & Hamill LLC now owns 212,394 shares of the bank’s stock valued at $7,274,000 after acquiring an additional 19,103 shares in the last quarter. MetLife Investment Advisors LLC bought a new stake in shares of Washington Federal in the fourth quarter valued at about $3,279,000. Finally, Zeke Capital Advisors LLC bought a new stake in shares of Washington Federal in the fourth quarter valued at about $245,000. Hedge funds and other institutional investors own 81.96% of the company’s stock.
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About Washington Federal
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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