WaFd (NASDAQ:WAFD) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of WaFd (NASDAQ:WAFD) from a sell rating to a hold rating in a research report report published on Tuesday morning.

WAFD has been the subject of several other reports. DA Davidson upped their price target on shares of WaFd from $39.00 to $41.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Stephens raised their target price on WaFd from $32.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Piper Sandler reduced their price target on WaFd from $36.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, October 21st. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $40.00 price objective on shares of WaFd in a research report on Monday, October 21st. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $38.00.

WaFd Price Performance

WaFd stock opened at $37.43 on Tuesday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.09 and a current ratio of 1.08. WaFd has a 52 week low of $24.66 and a 52 week high of $38.58. The stock has a market capitalization of $3.04 billion, a P/E ratio of 15.09 and a beta of 0.83. The stock has a fifty day moving average of $35.14 and a 200-day moving average of $32.14.

WaFd (NASDAQ:WAFD) last posted its earnings results on Thursday, October 17th. The bank reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.01. WaFd had a net margin of 13.97% and a return on equity of 9.44%. The firm had revenue of $389.98 million for the quarter, compared to analysts’ expectations of $190.43 million. During the same quarter in the previous year, the firm posted $0.72 earnings per share. On average, sell-side analysts expect that WaFd will post 2.83 earnings per share for the current fiscal year.

Insider Buying and Selling at WaFd

In other news, EVP Ryan Mauer sold 12,132 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $33.33, for a total transaction of $404,359.56. Following the completion of the sale, the executive vice president now owns 100,376 shares of the company’s stock, valued at $3,345,532.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 2.25% of the company’s stock.

Hedge Funds Weigh In On WaFd

Institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. increased its holdings in shares of WaFd by 80.8% during the third quarter. Blue Trust Inc. now owns 1,188 shares of the bank’s stock valued at $41,000 after acquiring an additional 531 shares in the last quarter. GAMMA Investing LLC increased its holdings in WaFd by 515.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,558 shares of the bank’s stock worth $54,000 after purchasing an additional 1,305 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of WaFd by 100.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,644 shares of the bank’s stock worth $47,000 after purchasing an additional 822 shares during the last quarter. Covestor Ltd lifted its holdings in shares of WaFd by 60.1% in the third quarter. Covestor Ltd now owns 1,904 shares of the bank’s stock valued at $66,000 after purchasing an additional 715 shares in the last quarter. Finally, KBC Group NV boosted its position in shares of WaFd by 35.1% during the third quarter. KBC Group NV now owns 2,797 shares of the bank’s stock valued at $97,000 after buying an additional 726 shares during the last quarter. Institutional investors own 83.71% of the company’s stock.

About WaFd

WaFd, Inc operates as the bank holding company for Washington Federal Bank that provides lending, depository, insurance, and other banking services in the United States. The company offers deposit products, including business and personal checking accounts, and term certificates of deposit, as well as money market accounts and passbook savings accounts.