BidaskClub Upgrades Washington Federal (WAFD) to Buy

Washington Federal (NASDAQ:WAFD) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Friday, BidAskClub reports.

Several other analysts have also recently issued reports on WAFD. Zacks Investment Research reiterated a “hold” rating on shares of Washington Federal in a research note on Monday, December 31st. ValuEngine upgraded Washington Federal from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. Finally, TheStreet upgraded Washington Federal from a “c+” rating to a “b-” rating in a research note on Thursday, January 24th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $36.00.

Shares of NASDAQ WAFD opened at $32.87 on Friday. The firm has a market capitalization of $2.67 billion, a PE ratio of 13.70, a P/E/G ratio of 1.74 and a beta of 1.11. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.03 and a current ratio of 1.03. Washington Federal has a 12-month low of $24.67 and a 12-month high of $35.25.

Washington Federal (NASDAQ:WAFD) last announced its quarterly earnings data on Monday, April 15th. The bank reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.02. The business had revenue of $132.88 million for the quarter, compared to analysts’ expectations of $133.44 million. Washington Federal had a return on equity of 10.31% and a net margin of 30.16%. During the same period last year, the firm earned $0.57 earnings per share. As a group, analysts anticipate that Washington Federal will post 2.51 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in WAFD. Toronto Dominion Bank acquired a new stake in shares of Washington Federal in the fourth quarter valued at $27,000. Oregon Public Employees Retirement Fund raised its stake in Washington Federal by 2,571.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 932,873 shares of the bank’s stock valued at $35,000 after buying an additional 897,947 shares in the last quarter. ETF Managers Group LLC raised its stake in Washington Federal by 19.4% in the fourth quarter. ETF Managers Group LLC now owns 3,885 shares of the bank’s stock valued at $104,000 after buying an additional 630 shares in the last quarter. Advisor Group Inc. raised its stake in Washington Federal by 21.4% in the fourth quarter. Advisor Group Inc. now owns 5,598 shares of the bank’s stock valued at $150,000 after buying an additional 988 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new stake in Washington Federal in the third quarter valued at $209,000. Institutional investors and hedge funds own 87.29% of the company’s stock.

Washington Federal Company Profile

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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