Bank of Montreal Can boosted its stake in Washington Federal Inc. (NASDAQ:WAFD) by 5.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 113,641 shares of the bank’s stock after purchasing an additional 5,673 shares during the period. Bank of Montreal Can’s holdings in Washington Federal were worth $3,891,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Public Employees Retirement System of Ohio increased its holdings in Washington Federal by 1.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 5,522 shares of the bank’s stock valued at $183,000 after purchasing an additional 62 shares during the last quarter. Adviser Investments LLC acquired a new stake in Washington Federal in the 3rd quarter valued at approximately $222,000. Raymond James Financial Services Advisors Inc. increased its holdings in Washington Federal by 1.9% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 6,641 shares of the bank’s stock valued at $220,000 after purchasing an additional 127 shares during the last quarter. Shelton Capital Management acquired a new stake in Washington Federal in the 2nd quarter valued at approximately $225,000. Finally, M&T Bank Corp increased its holdings in Washington Federal by 8.7% in the 2nd quarter. M&T Bank Corp now owns 7,509 shares of the bank’s stock valued at $249,000 after purchasing an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 83.58% of the company’s stock.
Washington Federal Inc. (WAFD) opened at $34.75 on Wednesday. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.03 and a quick ratio of 1.03. Washington Federal Inc. has a 1 year low of $29.80 and a 1 year high of $37.70. The company has a market cap of $3,082.16, a P/E ratio of 16.79, a price-to-earnings-growth ratio of 1.47 and a beta of 1.14.
Washington Federal declared that its Board of Directors has approved a stock buyback plan on Wednesday, January 24th that allows the company to repurchase 5,000,000 shares. This repurchase authorization allows the bank to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 9th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.96%. The ex-dividend date is Thursday, February 8th. This is a boost from Washington Federal’s previous quarterly dividend of $0.15. Washington Federal’s dividend payout ratio (DPR) is currently 28.99%.
Several research firms recently weighed in on WAFD. BidaskClub upgraded shares of Washington Federal from a “sell” rating to a “hold” rating in a report on Tuesday. ValuEngine raised shares of Washington Federal from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Zacks Investment Research raised shares of Washington Federal from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Monday, October 23rd. DA Davidson reissued a “hold” rating and issued a $39.00 price target on shares of Washington Federal in a research report on Thursday, January 18th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $38.00 price target on shares of Washington Federal in a research report on Thursday, January 18th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $37.40.
Washington Federal 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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