WaFd (NASDAQ:WAFD) Downgraded to “Sell” Rating by StockNews.com

StockNews.com lowered shares of WaFd (NASDAQ:WAFD) from a hold rating to a sell rating in a report released on Friday morning.

Several other analysts have also weighed in on the stock. DA Davidson lowered shares of WaFd from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $35.00 to $32.00 in a report on Thursday, February 6th. Stephens reiterated an “equal weight” rating and issued a $38.00 price objective on shares of WaFd in a research report on Friday, January 17th. Keefe, Bruyette & Woods decreased their target price on WaFd from $42.00 to $34.00 and set a “market perform” rating on the stock in a report on Tuesday, January 21st. Finally, Piper Sandler lowered their target price on WaFd from $37.00 to $31.00 and set a “neutral” rating for the company in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $33.75.

WaFd Stock Down 5.0 %

WAFD opened at $25.24 on Friday. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 11.63 and a beta of 0.83. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.04 and a current ratio of 1.04. The firm’s 50-day simple moving average is $29.06 and its 200-day simple moving average is $32.52. WaFd has a twelve month low of $24.55 and a twelve month high of $38.62.

WaFd Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.28%. The ex-dividend date of this dividend was Friday, February 21st. This is a positive change from WaFd’s previous quarterly dividend of $0.26. WaFd’s dividend payout ratio is 49.77%.

Institutional Trading of WaFd

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd boosted its stake in shares of WaFd by 983.5% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,116 shares of the bank’s stock valued at $36,000 after purchasing an additional 1,013 shares during the last quarter. McIlrath & Eck LLC boosted its stake in WaFd by 112.7% in the third quarter. McIlrath & Eck LLC now owns 1,323 shares of the bank’s stock valued at $46,000 after acquiring an additional 701 shares during the last quarter. Harbour Investments Inc. grew its holdings in WaFd by 29.6% during the 4th quarter. Harbour Investments Inc. now owns 1,752 shares of the bank’s stock worth $56,000 after acquiring an additional 400 shares during the period. Blue Trust Inc. raised its position in shares of WaFd by 68.4% during the 4th quarter. Blue Trust Inc. now owns 2,000 shares of the bank’s stock valued at $70,000 after acquiring an additional 812 shares during the last quarter. Finally, US Bancorp DE lifted its stake in shares of WaFd by 136.7% in the 4th quarter. US Bancorp DE now owns 3,638 shares of the bank’s stock valued at $117,000 after purchasing an additional 2,101 shares during the period. 83.71% of the stock is currently owned by institutional investors and hedge funds.

WaFd Company Profile

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.