Washington Federal (NASDAQ:WAFD)‘s stock had its “hold” rating reissued by equities research analysts at Piper Jaffray in a note issued to investors on Thursday. They currently have a $35.00 price target on the bank’s stock. Piper Jaffray’s target price would indicate a potential upside of 8.19% from the stock’s current price. Piper Jaffray also issued estimates for Washington Federal’s Q4 2018 earnings at $0.60 EPS, FY2018 earnings at $2.36 EPS, Q1 2019 earnings at $0.60 EPS, Q2 2019 earnings at $0.61 EPS, Q3 2019 earnings at $0.61 EPS, Q4 2019 earnings at $0.62 EPS, FY2019 earnings at $2.45 EPS and FY2020 earnings at $20.34 EPS.
Other analysts have also recently issued reports about the company. ValuEngine raised Washington Federal from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Keefe, Bruyette & Woods reissued a “hold” rating and set a $38.00 price target on shares of Washington Federal in a report on Thursday, January 18th. DA Davidson reissued a “hold” rating and set a $39.00 price target on shares of Washington Federal in a report on Thursday, January 18th. BidaskClub raised Washington Federal from a “sell” rating to a “hold” rating in a report on Tuesday, January 16th. Finally, Royal Bank of Canada reissued a “hold” rating and set a $36.00 price target on shares of Washington Federal in a report on Thursday. Seven research analysts have rated the stock with a hold rating, Washington Federal presently has a consensus rating of “Hold” and a consensus target price of $37.00.
NASDAQ:WAFD opened at $32.35 on Thursday. The company has a market cap of $2,813.67, a P/E ratio of 16.68, a PEG ratio of 1.36 and a beta of 1.14. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.20. Washington Federal has a 1-year low of $29.80 and a 1-year high of $37.70.
Washington Federal declared that its Board of Directors has authorized a stock buyback plan on Wednesday, January 24th that authorizes the company to repurchase 5,000,000 shares. This repurchase authorization authorizes the bank to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
A number of hedge funds and other institutional investors have recently made changes to their positions in WAFD. Acadian Asset Management LLC acquired a new position in Washington Federal in the 4th quarter valued at $199,000. Balentine LLC acquired a new position in Washington Federal in the 4th quarter valued at $200,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Washington Federal by 42.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,877 shares of the bank’s stock valued at $201,000 after acquiring an additional 1,760 shares in the last quarter. Ramsey Quantitative Systems acquired a new position in Washington Federal in the 4th quarter valued at $239,000. Finally, Zeke Capital Advisors LLC acquired a new position in Washington Federal in the 4th quarter valued at $245,000. 84.52% of the stock is owned by hedge funds and other institutional investors.
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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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