Arizona State Retirement System raised its holdings in Washington Federal Inc. (NASDAQ:WAFD) by 24.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,753 shares of the bank’s stock after acquiring an additional 12,437 shares during the period. Arizona State Retirement System’s holdings in Washington Federal were worth $2,149,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in WAFD. Public Employees Retirement System of Ohio boosted its stake in shares of Washington Federal by 1.1% during the second quarter. Public Employees Retirement System of Ohio now owns 5,522 shares of the bank’s stock valued at $183,000 after purchasing an additional 62 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Washington Federal during the fourth quarter valued at about $199,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Washington Federal by 42.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,877 shares of the bank’s stock valued at $201,000 after purchasing an additional 1,760 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Washington Federal by 1.9% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 6,641 shares of the bank’s stock valued at $220,000 after purchasing an additional 127 shares in the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in shares of Washington Federal during the third quarter valued at about $259,000. 83.22% of the stock is currently owned by hedge funds and other institutional investors.
Washington Federal Inc. (NASDAQ WAFD) opened at $35.90 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $3,090.00, a P/E ratio of 17.60, a P/E/G ratio of 1.47 and a beta of 1.13. Washington Federal Inc. has a 12 month low of $29.80 and a 12 month high of $37.70.
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were paid a $0.17 dividend. This is a positive change from Washington Federal’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date was Thursday, February 8th. Washington Federal’s payout ratio is currently 33.33%.
Washington Federal declared that its board has approved a share buyback program on Wednesday, January 24th that authorizes the company to repurchase 5,000,000 outstanding shares. This repurchase authorization authorizes the bank to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
WAFD has been the topic of a number of recent research reports. BidaskClub lowered Washington Federal from a “hold” rating to a “sell” rating in a research note on Wednesday, January 31st. Keefe, Bruyette & Woods reissued a “hold” rating and set a $38.00 price target on shares of Washington Federal in a research note on Thursday, January 18th. ValuEngine lowered Washington Federal from a “buy” rating to a “hold” rating in a research note on Saturday, November 25th. Finally, DA Davidson reissued a “hold” rating and set a $39.00 price target on shares of Washington Federal in a research note on Thursday, January 18th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $37.40.
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Washington Federal Company Profile
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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