Envestnet Asset Management Inc. boosted its position in Washington Federal Inc. (NASDAQ:WAFD) by 20.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,318 shares of the bank’s stock after acquiring an additional 4,676 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Washington Federal were worth $733,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Janus Henderson Group PLC increased its stake in Washington Federal by 49.7% in the first quarter. Janus Henderson Group PLC now owns 3,103,441 shares of the bank’s stock valued at $80,565,000 after purchasing an additional 1,030,905 shares during the last quarter. Geode Capital Management LLC increased its stake in Washington Federal by 5.4% in the first quarter. Geode Capital Management LLC now owns 1,222,659 shares of the bank’s stock valued at $31,740,000 after purchasing an additional 62,386 shares during the last quarter. Acadian Asset Management LLC increased its stake in Washington Federal by 20.1% in the first quarter. Acadian Asset Management LLC now owns 1,045,005 shares of the bank’s stock valued at $27,128,000 after purchasing an additional 174,873 shares during the last quarter. Norges Bank purchased a new position in Washington Federal in the fourth quarter valued at approximately $34,558,000. Finally, Victory Capital Management Inc. increased its stake in Washington Federal by 219.2% in the first quarter. Victory Capital Management Inc. now owns 559,340 shares of the bank’s stock valued at $14,520,000 after purchasing an additional 384,113 shares during the last quarter. 80.47% of the stock is currently owned by hedge funds and other institutional investors.
Shares of WAFD opened at $23.34 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.10 and a debt-to-equity ratio of 1.41. The firm has a market cap of $1.81 billion, a PE ratio of 9.53 and a beta of 0.98. The company’s 50 day simple moving average is $25.17 and its 200-day simple moving average is $27.99. Washington Federal Inc. has a 12-month low of $20.92 and a 12-month high of $38.26.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Thursday, August 6th. Washington Federal’s dividend payout ratio is presently 33.72%.
In related news, CEO Brent J. Beardall purchased 4,167 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The stock was purchased at an average cost of $23.42 per share, with a total value of $97,591.14. Following the completion of the acquisition, the chief executive officer now directly owns 264,579 shares in the company, valued at $6,196,440.18. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Randall H. Talbot purchased 5,300 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were bought at an average cost of $23.16 per share, with a total value of $122,748.00. Following the completion of the acquisition, the director now owns 39,743 shares of the company’s stock, valued at $920,447.88. The disclosure for this purchase can be found here. 1.21% of the stock is owned by company insiders.
Several brokerages have commented on WAFD. Piper Sandler increased their price target on shares of Washington Federal from $25.00 to $25.50 and gave the company a “neutral” rating in a research note on Monday, July 27th. Zacks Investment Research upgraded shares of Washington Federal from a “sell” rating to a “hold” rating and set a $27.00 target price on the stock in a research report on Monday, July 6th. Finally, BidaskClub lowered shares of Washington Federal from a “sell” rating to a “strong sell” rating in a research report on Thursday. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Washington Federal has an average rating of “Hold” and an average target price of $29.50.
About Washington Federal
Washington Federal, Inc operates as the bank holding company for Washington Federal, National Association that provides lending, depository, insurance, and other banking services in the United States. The company accepts deposit products, including business and personal checking accounts, and term certificates of deposit, as well as money market accounts and passbook savings accounts.
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