WaFd (NASDAQ:WAFD) Posts Earnings Results, Beats Estimates By $0.02 EPS

WaFd (NASDAQ:WAFD) released its earnings results on Thursday. The bank reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.02, Briefing.com reports. The firm had revenue of $205.52 million during the quarter, compared to analysts’ expectations of $199.56 million. WaFd had a return on equity of 8.94% and a net margin of 18.25%.

WaFd Trading Up 2.4%

Shares of WAFD opened at $39.32 on Friday. WaFd has a 52-week low of $26.31 and a 52-week high of $39.49. The stock has a market cap of $2.91 billion, a PE ratio of 12.85 and a beta of 0.83. The firm’s fifty day moving average is $36.54 and its two-hundred day moving average is $34.02. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.14.

WaFd Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.08 dividend on an annualized basis and a yield of 2.7%. WaFd’s dividend payout ratio (DPR) is currently 35.29%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WAFD. Zacks Research lowered WaFd from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. Keefe, Bruyette & Woods boosted their price target on WaFd from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Monday, April 20th. Piper Sandler raised their price objective on WaFd from $30.50 to $36.00 and gave the stock a “neutral” rating in a report on Monday, April 20th. Finally, Weiss Ratings upgraded WaFd from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 22nd. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $34.80.

Insider Activity at WaFd

In related news, EVP Kim E. Robison sold 22,000 shares of the firm’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $35.28, for a total transaction of $776,160.00. Following the completion of the sale, the executive vice president directly owned 116,099 shares in the company, valued at approximately $4,095,972.72. This trade represents a 15.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.49% of the company’s stock.

Institutional Investors Weigh In On WaFd

Large investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. raised its position in WaFd by 42.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,174 shares of the bank’s stock valued at $34,000 after purchasing an additional 352 shares in the last quarter. McIlrath & Eck LLC raised its holdings in shares of WaFd by 57.6% in the 2nd quarter. McIlrath & Eck LLC now owns 1,327 shares of the bank’s stock valued at $39,000 after purchasing an additional 485 shares in the last quarter. Danske Bank A S purchased a new stake in shares of WaFd during the 3rd quarter worth $51,000. EverSource Wealth Advisors LLC grew its stake in shares of WaFd by 712.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,901 shares of the bank’s stock worth $56,000 after purchasing an additional 1,667 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in WaFd in the fourth quarter valued at $179,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

WaFd Company Profile

Washington Federal, Inc, doing business as WaFd Bank, is a publicly traded bank holding company headquartered in Seattle, Washington. Through its subsidiary, WaFd Bank, the company provides a range of banking and financial services to individuals, small-to-medium enterprises, and commercial clients. Established in 1917 as Ballard Savings & Loan in Seattle, the institution expanded over decades to serve customers across the Western United States under the Washington Federal name and has operated as a public company since the early 1980s.

WaFd Bank’s core offerings encompass deposit accounts such as checking, savings, money market, and certificates of deposit, alongside consumer and commercial lending products.