Washington Federal (NASDAQ:WAFD) had its price target reduced by DA Davidson to $36.00 in a note issued to investors on Thursday, The Fly reports. The brokerage currently has a “neutral” rating on the bank’s stock. DA Davidson’s price target would indicate a potential upside of 8.43% from the company’s previous close.
A number of other research analysts also recently weighed in on the stock. Piper Jaffray restated a “hold” rating and set a $35.00 price objective on shares of Washington Federal in a research report on Thursday. Royal Bank of Canada reiterated a “hold” rating and issued a $36.00 price target on shares of Washington Federal in a research report on Thursday. ValuEngine downgraded shares of Washington Federal from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Zacks Investment Research downgraded shares of Washington Federal from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 20th. Finally, BidaskClub upgraded shares of Washington Federal from a “sell” rating to a “hold” rating in a research report on Tuesday, February 6th. Seven research analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and an average price target of $37.00.
Shares of Washington Federal stock opened at $33.20 on Thursday. The company has a market cap of $2,940.30, a P/E ratio of 17.11, a P/E/G ratio of 1.40 and a beta of 1.14. Washington Federal has a twelve month low of $29.80 and a twelve month high of $37.70. 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 declared that its board has authorized a stock buyback 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 usually a sign that the company’s management believes its shares are undervalued.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC bought a new position in Washington Federal in the fourth quarter worth approximately $199,000. Balentine LLC purchased a new stake in shares of Washington Federal in the fourth quarter worth $200,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Washington Federal by 42.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,877 shares of the bank’s stock worth $201,000 after purchasing an additional 1,760 shares in the last quarter. Ramsey Quantitative Systems purchased a new stake in shares of Washington Federal in the fourth quarter worth $239,000. Finally, Zeke Capital Advisors LLC purchased a new stake in shares of Washington Federal in the fourth quarter worth $245,000. Institutional investors and hedge funds own 84.52% of the company’s stock.
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Washington Federal Company Profile
Washington Federal, Inc operates as the bank holding company for Washington Federal, National Association that provides lending, depository, insurance, and other banking services to consumers, mid-sized and large businesses, and owners and developers of commercial real estate in the United States. The company accepts deposit products, such as business and personal checking accounts, and term certificates of deposit, as well as money market accounts and passbook savings accounts.
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