WaFd (NASDAQ:WAFD) Reaches New 12-Month High – Here’s Why

WaFd, Inc (NASDAQ:WAFD) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $38.58 and last traded at $38.58, with a volume of 113928 shares trading hands. The stock had previously closed at $37.15.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and set a $40.00 price objective on shares of WaFd in a report on Monday, October 21st. Piper Sandler dropped their price target on shares of WaFd from $36.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, October 21st. StockNews.com upgraded WaFd from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, DA Davidson increased their price objective on WaFd from $39.00 to $41.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $38.00.

WaFd Price Performance

The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.21. The business’s 50-day moving average is $35.38 and its two-hundred day moving average is $32.81. The company has a market capitalization of $3.02 billion, a P/E ratio of 14.99 and a beta of 0.83.

WaFd (NASDAQ:WAFD) last announced 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 firm had revenue of $389.98 million for the quarter, compared to the consensus estimate of $190.43 million. WaFd had a return on equity of 9.44% and a net margin of 13.97%. During the same quarter in the previous year, the business earned $0.72 EPS. As a group, analysts predict that WaFd, Inc will post 2.82 earnings per share for the current year.

WaFd Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a $0.26 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $1.04 dividend on an annualized basis and a yield of 2.80%. WaFd’s dividend payout ratio (DPR) is presently 41.94%.

Insider Transactions at WaFd

In related news, EVP Ryan Mauer sold 12,132 shares of WaFd stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $33.33, for a total value of $404,359.56. Following the sale, the executive vice president now owns 100,376 shares of the company’s stock, valued at approximately $3,345,532.08. The trade was a 10.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.25% of the company’s stock.

Institutional Trading of WaFd

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in WaFd by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 7,902,461 shares of the bank’s stock worth $229,408,000 after acquiring an additional 125,020 shares during the last quarter. State Street Corp increased its stake in shares of WaFd by 5.2% in the third quarter. State Street Corp now owns 3,969,790 shares of the bank’s stock worth $138,347,000 after purchasing an additional 195,845 shares in the last quarter. Geode Capital Management LLC raised its position in shares of WaFd by 10.0% in the third quarter. Geode Capital Management LLC now owns 1,759,135 shares of the bank’s stock valued at $61,318,000 after purchasing an additional 159,750 shares during the period. Systematic Financial Management LP raised its position in shares of WaFd by 21.5% in the third quarter. Systematic Financial Management LP now owns 1,432,523 shares of the bank’s stock valued at $49,923,000 after purchasing an additional 253,044 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of WaFd by 31.6% during the 2nd quarter. American Century Companies Inc. now owns 1,274,665 shares of the bank’s stock valued at $36,430,000 after buying an additional 305,942 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors.

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.