DA Davidson Weighs in on Washington Federal, Inc.’s Q2 2018 Earnings (WAFD)

Washington Federal, Inc. (NASDAQ:WAFD) – Investment analysts at DA Davidson lifted their Q2 2018 EPS estimates for shares of Washington Federal in a report released on Wednesday. DA Davidson analyst J. Rulis now forecasts that the bank will post earnings per share of $0.64 for the quarter, up from their previous estimate of $0.51. DA Davidson has a “Hold” rating and a $39.00 price objective on the stock. DA Davidson also issued estimates for Washington Federal’s Q3 2018 earnings at $0.66 EPS.

A number of other research analysts also recently issued reports on WAFD. ValuEngine upgraded Washington Federal from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th. Piper Jaffray Companies reiterated a “hold” rating and issued a $34.00 price target on shares of Washington Federal in a report on Friday, October 6th. Royal Bank of Canada reiterated a “hold” rating and issued a $36.00 price target on shares of Washington Federal in a report on Friday, October 20th. Zacks Investment Research upgraded Washington Federal from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Monday, October 23rd. Finally, BidaskClub downgraded Washington Federal from a “hold” rating to a “sell” rating in a report on Friday, January 5th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Washington Federal has an average rating of “Hold” and an average target price of $37.40.

Washington Federal (NASDAQ:WAFD) opened at $37.15 on Friday. Washington Federal has a fifty-two week low of $29.80 and a fifty-two week high of $37.30. The stock has a market capitalization of $3,270.00, a price-to-earnings ratio of 17.86, a PEG ratio of 1.71 and a beta of 1.15. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.03 and a quick ratio of 1.02.

Washington Federal (NASDAQ:WAFD) last announced its quarterly earnings results on Wednesday, January 17th. The bank reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.08. Washington Federal had a return on equity of 9.14% and a net margin of 30.20%. The business had revenue of $122.53 million for the quarter, compared to the consensus estimate of $124.98 million.

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