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

StockNews.com upgraded shares of WaFd (NASDAQ:WAFD) from a sell rating to a hold rating in a research note issued to investors on Tuesday.

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

WaFd Stock Down 0.6 %

NASDAQ:WAFD opened at $37.43 on Tuesday. WaFd has a twelve month low of $24.66 and a twelve month high of $38.58. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of 15.09 and a beta of 0.83. The company has a quick ratio of 1.09, a current ratio of 1.08 and a debt-to-equity ratio of 1.21. The stock’s 50 day moving average price is $35.14 and its two-hundred day moving average price is $32.14.

WaFd (NASDAQ:WAFD) last issued 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. The business had revenue of $389.98 million for the quarter, compared to the consensus estimate of $190.43 million. WaFd had a net margin of 13.97% and a return on equity of 9.44%. During the same period in the previous year, the company earned $0.72 earnings per share. Equities research analysts expect that WaFd will post 2.83 earnings per share for the current fiscal year.

Insider Activity at WaFd

In other news, EVP Ryan Mauer sold 12,132 shares of WaFd stock in a transaction on Monday, November 4th. The stock was 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 approximately $3,345,532.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.25% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On WaFd

Hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. grew its position in WaFd by 80.8% during the third quarter. Blue Trust Inc. now owns 1,188 shares of the bank’s stock worth $41,000 after buying an additional 531 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of WaFd by 100.0% during the 2nd 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 in the last quarter. GAMMA Investing LLC increased its position in shares of WaFd by 515.8% in the third quarter. GAMMA Investing LLC now owns 1,558 shares of the bank’s stock worth $54,000 after purchasing an additional 1,305 shares during the period. Covestor Ltd raised its stake in 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, nVerses Capital LLC bought a new stake in WaFd during the second quarter worth about $80,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

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.