Washington Federal Inc. (NASDAQ:WAFD) announced a quarterly dividend on Tuesday, July 28th, Zacks reports. Investors of record on Friday, August 7th will be paid a dividend of 0.22 per share by the bank on Friday, August 21st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date of this dividend is Thursday, August 6th.
Washington Federal has raised its dividend by an average of 46.4% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. Washington Federal has a payout ratio of 40.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Washington Federal to earn $1.74 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 50.6%.
Shares of NASDAQ WAFD traded down $1.02 during trading hours on Thursday, reaching $22.51. The stock had a trading volume of 13,091 shares, compared to its average volume of 422,454. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 9.60 and a beta of 0.98. The company has a current ratio of 1.05, a quick ratio of 1.10 and a debt-to-equity ratio of 1.41. Washington Federal has a fifty-two week low of $20.92 and a fifty-two week high of $38.26. The firm has a 50-day moving average of $25.43 and a 200-day moving average of $28.11.
WAFD has been the subject of several analyst reports. Piper Sandler upped their price objective on Washington Federal from $25.00 to $25.50 and gave the company a “neutral” rating in a research note on Monday. BidaskClub downgraded Washington Federal from a “sell” rating to a “strong sell” rating in a research note on Thursday. Finally, Zacks Investment Research raised Washington Federal from a “sell” rating to a “hold” rating and set a $27.00 price objective for the company in a research note on Monday, July 6th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $29.50.
In other Washington Federal news, Director Randall H. Talbot bought 5,300 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was acquired at an average cost of $23.16 per share, with a total value of $122,748.00. Following the purchase, the director now owns 39,743 shares in the company, valued at approximately $920,447.88. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Brent J. Beardall bought 4,167 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were acquired at an average cost of $23.42 per share, with a total value of $97,591.14. Following the completion of the purchase, the chief executive officer now owns 264,579 shares in the company, valued at approximately $6,196,440.18. The disclosure for this purchase can be found here. Corporate insiders own 1.21% of the company’s stock.
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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