Washington Federal (WAFD) Rating Increased to Hold at ValuEngine

Washington Federal (NASDAQ:WAFD) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, ValuEngine reports.

A number of other research firms have also recently issued reports on WAFD. Zacks Investment Research upgraded Washington Federal from a “sell” rating to a “hold” rating in a research note on Monday, March 4th. BidaskClub cut Washington Federal from a “buy” rating to a “hold” rating in a research note on Thursday, March 14th. Finally, TheStreet upgraded Washington Federal from a “c+” rating to a “b-” rating in a research note on Thursday, January 24th. Four equities research analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and an average target price of $36.00.

WAFD stock traded up $1.74 during mid-day trading on Tuesday, reaching $32.27. The company had a trading volume of 1,105,773 shares, compared to its average volume of 396,728. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 1.76 and a beta of 1.11. Washington Federal has a one year low of $24.67 and a one year high of $35.25.

Washington Federal (NASDAQ:WAFD) last posted its earnings results on Monday, April 15th. The bank reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. Washington Federal had a return on equity of 10.31% and a net margin of 30.16%. During the same period in the previous year, the business earned $0.57 EPS. As a group, analysts predict that Washington Federal will post 2.51 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BTIM Corp. raised its stake in shares of Washington Federal by 7.1% during the first quarter. BTIM Corp. now owns 336,029 shares of the bank’s stock valued at $9,708,000 after purchasing an additional 22,333 shares in the last quarter. First Citizens Bank & Trust Co. bought a new stake in shares of Washington Federal during the first quarter valued at about $409,000. Deutsche Bank AG raised its stake in shares of Washington Federal by 59.4% during the fourth quarter. Deutsche Bank AG now owns 580,500 shares of the bank’s stock valued at $15,503,000 after purchasing an additional 216,367 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Washington Federal by 31.8% during the fourth quarter. American Century Companies Inc. now owns 255,382 shares of the bank’s stock valued at $6,821,000 after purchasing an additional 61,620 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Washington Federal by 6.5% during the fourth quarter. Geode Capital Management LLC now owns 955,671 shares of the bank’s stock valued at $25,525,000 after purchasing an additional 58,527 shares in the last quarter. Institutional investors and hedge funds own 87.29% of the company’s stock.

About Washington Federal

Washington Federal, Inc operates as the bank holding company for Washington Federal, National Association that provides lending, depository, insurance, and other banking services in the United States. The company accepts deposit products, including business and personal checking accounts, and term certificates of deposit, as well as money market accounts and passbook savings accounts.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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