DA Davidson Comments on Washington Federal, Inc.’s Q3 2022 Earnings (NASDAQ:WAFD)

Washington Federal, Inc. (NASDAQ:WAFDGet Rating) – Analysts at DA Davidson issued their Q3 2022 earnings estimates for shares of Washington Federal in a research note issued to investors on Monday, April 18th. DA Davidson analyst J. Rulis forecasts that the bank will earn $0.77 per share for the quarter. DA Davidson has a “Buy” rating and a $43.00 price target on the stock. DA Davidson also issued estimates for Washington Federal’s FY2023 earnings at $3.40 EPS.

Washington Federal (NASDAQ:WAFDGet Rating) last released its quarterly earnings results on Wednesday, April 13th. The bank reported $0.70 EPS for the quarter, hitting the consensus estimate of $0.70. The company had revenue of $150.84 million for the quarter, compared to analyst estimates of $150.77 million. Washington Federal had a return on equity of 10.65% and a net margin of 29.95%. The firm’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 earnings per share.

Other research analysts have also issued research reports about the company. Piper Sandler lifted their price target on Washington Federal from $34.00 to $37.00 in a research report on Tuesday, January 18th. Zacks Investment Research lowered Washington Federal from a “strong-buy” rating to a “hold” rating and set a $34.00 target price on the stock. in a report on Tuesday, December 21st. Finally, StockNews.com began coverage on Washington Federal in a report on Thursday, March 31st. They issued a “hold” rating on the stock.

WAFD opened at $31.91 on Tuesday. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of 11.65 and a beta of 0.76. Washington Federal has a 52 week low of $29.01 and a 52 week high of $38.06. The business’s 50 day moving average is $34.02 and its two-hundred day moving average is $34.53. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.91.

The business also recently announced a quarterly dividend, which was paid on Friday, February 18th. Stockholders of record on Friday, February 4th were issued a $0.24 dividend. The ex-dividend date of this dividend was Thursday, February 3rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.01%. This is a positive change from Washington Federal’s previous quarterly dividend of $0.23. Washington Federal’s payout ratio is presently 35.04%.

In related news, Director Thomas J. Kelley sold 17,000 shares of the company’s stock in a transaction on Wednesday, January 19th. The stock was sold at an average price of $37.11, for a total transaction of $630,870.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Vincent L. Beatty sold 16,000 shares of the company’s stock in a transaction on Thursday, February 10th. The stock was sold at an average price of $35.74, for a total value of $571,840.00. The disclosure for this sale can be found here. In the last three months, insiders sold 36,812 shares of company stock worth $1,337,159. Corporate insiders own 1.57% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new stake in Washington Federal during the fourth quarter worth $39,643,000. Morgan Stanley boosted its position in Washington Federal by 143.3% during the third quarter. Morgan Stanley now owns 746,529 shares of the bank’s stock worth $25,614,000 after purchasing an additional 439,663 shares in the last quarter. MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income purchased a new stake in Washington Federal during the third quarter worth $14,971,000. Arrowstreet Capital Limited Partnership boosted its position in Washington Federal by 17.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,120,360 shares of the bank’s stock worth $38,440,000 after purchasing an additional 162,416 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its position in Washington Federal by 8.1% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,818,423 shares of the bank’s stock worth $62,390,000 after purchasing an additional 135,889 shares in the last quarter. 80.09% of the stock is currently owned by hedge funds and other institutional investors.

About Washington Federal (Get Rating)

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

Further Reading

Earnings History and Estimates for Washington Federal (NASDAQ:WAFD)

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