Washington Federal Inc. (WAFD) Given Average Rating of “Hold” by Analysts

Washington Federal Inc. (NASDAQ:WAFD) has received a consensus recommendation of “Hold” from the seven research firms that are currently covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $36.75.

WAFD has been the topic of a number of recent research reports. Zacks Investment Research cut Washington Federal from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 20th. BidaskClub cut Washington Federal from a “hold” rating to a “sell” rating in a report on Wednesday, January 31st. ValuEngine raised Washington Federal from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. DA Davidson reissued a “hold” rating and set a $39.00 price objective on shares of Washington Federal in a report on Thursday, January 18th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $38.00 price objective on shares of Washington Federal in a report on Thursday, January 18th.

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Shares of Washington Federal (WAFD) opened at $33.65 on Monday. The stock has a market capitalization of $2,893.03, a PE ratio of 16.26, a P/E/G ratio of 1.37 and a beta of 1.13. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.03 and a current ratio of 1.03. Washington Federal has a 1-year low of $29.80 and a 1-year high of $37.70.

Washington Federal (NASDAQ:WAFD) last issued its quarterly earnings data on Wednesday, January 17th. The bank reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.08. The business had revenue of $122.53 million for the quarter, compared to analysts’ expectations of $124.98 million. Washington Federal had a return on equity of 9.14% and a net margin of 30.20%. analysts expect that Washington Federal will post 2.44 earnings per share for the current fiscal year.

Washington Federal declared that its Board of Directors has authorized a share repurchase program on Wednesday, January 24th that allows the company to repurchase 5,000,000 outstanding shares. This repurchase authorization allows the bank to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Xact Kapitalforvaltning AB bought a new position in Washington Federal in the 4th quarter worth about $540,000. Balentine LLC bought a new position in Washington Federal in the 4th quarter worth about $200,000. Segall Bryant & Hamill LLC increased its stake in Washington Federal by 9.9% in the 4th quarter. Segall Bryant & Hamill LLC now owns 212,394 shares of the bank’s stock worth $7,274,000 after acquiring an additional 19,103 shares during the last quarter. MetLife Investment Advisors LLC bought a new position in Washington Federal in the 4th quarter worth about $3,279,000. Finally, Zeke Capital Advisors LLC bought a new position in Washington Federal in the 4th quarter worth about $245,000. Institutional investors and hedge funds own 84.49% 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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