Piper Jaffray Companies Weighs in on Washington Federal Inc.’s Q1 2020 Earnings (NASDAQ:WAFD)

Washington Federal Inc. (NASDAQ:WAFD) – Investment analysts at Piper Jaffray Companies lowered their Q1 2020 earnings estimates for Washington Federal in a research note issued on Wednesday, October 16th. Piper Jaffray Companies analyst M. Clark now anticipates that the bank will post earnings of $0.60 per share for the quarter, down from their previous estimate of $0.65. Piper Jaffray Companies has a “Hold” rating and a $34.00 price target on the stock. Piper Jaffray Companies also issued estimates for Washington Federal’s Q2 2020 earnings at $0.61 EPS, Q3 2020 earnings at $0.62 EPS, Q4 2020 earnings at $0.63 EPS, FY2020 earnings at $2.47 EPS, Q1 2021 earnings at $0.63 EPS, Q2 2021 earnings at $0.64 EPS, Q3 2021 earnings at $0.64 EPS, Q4 2021 earnings at $0.65 EPS and FY2021 earnings at $2.56 EPS.

Washington Federal (NASDAQ:WAFD) last posted its quarterly earnings results on Tuesday, October 15th. The bank reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The business had revenue of $136.63 million for the quarter, compared to analyst estimates of $136.20 million. Washington Federal had a net margin of 28.65% and a return on equity of 10.47%. During the same quarter last year, the business posted $0.62 EPS.

Several other analysts have also issued reports on the stock. ValuEngine lowered shares of Washington Federal from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. BidaskClub lowered shares of Washington Federal from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $34.00.

NASDAQ WAFD opened at $36.61 on Monday. The company has a current ratio of 1.02, a quick ratio of 1.03 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of 14.03 and a beta of 1.13. The firm’s 50 day simple moving average is $36.65 and its 200 day simple moving average is $34.41. Washington Federal has a 1 year low of $24.67 and a 1 year high of $38.26.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Quantamental Technologies LLC bought a new position in shares of Washington Federal during the second quarter valued at $29,000. Steward Partners Investment Advisory LLC bought a new position in Washington Federal during the second quarter worth $31,000. Perkins Coie Trust Co bought a new position in Washington Federal during the third quarter worth $143,000. Meeder Asset Management Inc. bought a new position in Washington Federal during the third quarter worth $147,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new position in Washington Federal during the second quarter worth $147,000. Institutional investors and hedge funds own 84.34% 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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Earnings History and Estimates for Washington Federal (NASDAQ:WAFD)

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