Washington Federal (WAFD) Upgraded to “Hold” by BidaskClub

BidaskClub upgraded shares of Washington Federal (NASDAQ:WAFD) from a sell rating to a hold rating in a research report sent to investors on Tuesday.

Several other equities analysts have also recently issued reports on WAFD. Zacks Investment Research cut Washington Federal from a buy rating to a hold rating in a research report on Monday, September 18th. ValuEngine upgraded Washington Federal from a hold rating to a buy rating in a research report on Tuesday, September 26th. Piper Jaffray Companies reiterated a hold rating and set a $34.00 target price on shares of Washington Federal in a research report on Friday, October 6th. Finally, Royal Bank of Canada reiterated a hold rating and set a $36.00 target price on shares of Washington Federal in a research report on Friday, October 20th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $36.00.

Washington Federal (NASDAQ WAFD) traded down $0.05 during midday trading on Tuesday, reaching $35.60. The company’s stock had a trading volume of 455,800 shares, compared to its average volume of 429,770. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.02 and a quick ratio of 1.02. Washington Federal has a 52 week low of $29.80 and a 52 week high of $36.35. The firm has a market cap of $3,094.08, a PE ratio of 18.35, a price-to-earnings-growth ratio of 1.66 and a beta of 1.15.

Washington Federal (NASDAQ:WAFD) last released its earnings results on Wednesday, October 18th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.03. Washington Federal had a return on equity of 8.63% and a net margin of 28.87%. The company had revenue of $128.69 million for the quarter, compared to analysts’ expectations of $121.46 million. research analysts predict that Washington Federal will post 2.14 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in WAFD. Schwab Charles Investment Management Inc. grew its holdings in shares of Washington Federal by 3.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 547,660 shares of the bank’s stock worth $18,183,000 after acquiring an additional 17,917 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Washington Federal by 7.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,117 shares of the bank’s stock worth $137,000 after acquiring an additional 301 shares during the period. Swiss National Bank grew its holdings in shares of Washington Federal by 1.7% in the 2nd quarter. Swiss National Bank now owns 149,300 shares of the bank’s stock worth $4,957,000 after acquiring an additional 2,500 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Washington Federal by 7.1% in the 2nd quarter. Wells Fargo & Company MN now owns 235,905 shares of the bank’s stock worth $7,832,000 after acquiring an additional 15,684 shares during the period. Finally, Riverhead Capital Management LLC grew its holdings in shares of Washington Federal by 76.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 8,822 shares of the bank’s stock worth $293,000 after acquiring an additional 3,822 shares during the period. Institutional investors and hedge funds own 83.23% of the company’s stock.

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Washington Federal Company Profile

Washington Federal, Inc is a bank holding company. The Company conducts its operations through a federally insured national bank subsidiary, Washington Federal, National Association (the Bank). The business of the Bank consists primarily of accepting deposits from the general public and investing these funds in loans of various types, including first lien mortgages on single-family dwellings, construction loans, land acquisition and development loans, loans on multi-family, commercial real estate and other income producing properties, home equity loans and business loans.

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