Washington Federal (NASDAQ:WAFD) Reaches New 1-Year High After Better-Than-Expected Earnings

Washington Federal, Inc. (NASDAQ:WAFD)’s share price reached a new 52-week high during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $36.91 and last traded at $36.85, with a volume of 7651 shares. The stock had previously closed at $36.22.

The bank reported $0.71 EPS for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.02. Washington Federal had a return on equity of 10.11% and a net margin of 29.56%. During the same quarter in the previous year, the company earned $0.51 EPS.

The company also recently announced a quarterly dividend, which was paid on Friday, November 19th. Stockholders of record on Friday, November 5th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date was Thursday, November 4th. Washington Federal’s dividend payout ratio (DPR) is currently 35.38%.

A number of analysts have recently commented on WAFD shares. Zacks Investment Research cut Washington Federal from a “strong-buy” rating to a “hold” rating and set a $34.00 target price on the stock. in a research report on Tuesday, December 21st. DA Davidson boosted their price target on Washington Federal from $34.00 to $39.00 and gave the company a “neutral” rating in a research report on Monday, October 18th.

A number of hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio increased its position in Washington Federal by 1.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 45,747 shares of the bank’s stock valued at $1,454,000 after acquiring an additional 447 shares during the period. LPL Financial LLC increased its position in Washington Federal by 1.9% in the 2nd quarter. LPL Financial LLC now owns 31,994 shares of the bank’s stock valued at $1,017,000 after acquiring an additional 587 shares during the period. Toronto Dominion Bank increased its position in Washington Federal by 50.7% in the 2nd quarter. Toronto Dominion Bank now owns 1,873 shares of the bank’s stock valued at $60,000 after acquiring an additional 630 shares during the period. Commonwealth Equity Services LLC increased its position in Washington Federal by 4.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 14,441 shares of the bank’s stock valued at $458,000 after acquiring an additional 662 shares during the period. Finally, Dark Forest Capital Management LP increased its position in Washington Federal by 1,229.9% in the 3rd quarter. Dark Forest Capital Management LP now owns 891 shares of the bank’s stock valued at $31,000 after acquiring an additional 824 shares during the period. Hedge funds and other institutional investors own 80.57% of the company’s stock.

The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.01 and a current ratio of 1.01. The company has a 50-day simple moving average of $34.19 and a 200-day simple moving average of $33.64. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 14.42 and a beta of 0.86.

About Washington Federal (NASDAQ:WAFD)

Washington Federal, Inc is a bank holding company, which engages in the provision of lending, depository, insurance, banking, financial products and services. The firm operates through the following segments: commercial loans; and consumer loans. The commercial loans segment is dis-aggregated into five classes: multi-family, commercial real estate, commercial and industrial, construction, and land acquisition and development.

Read More: Average Daily Trade Volume – What It Means In Stock Trading

Receive News & Ratings for Washington Federal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Washington Federal and related companies with MarketBeat.com's FREE daily email newsletter.