PNC Financial Services Group Inc. Boosts Stake in WaFd, Inc (NASDAQ:WAFD)

PNC Financial Services Group Inc. increased its holdings in shares of WaFd, Inc (NASDAQ:WAFDFree Report) by 5.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,054 shares of the bank’s stock after acquiring an additional 661 shares during the period. PNC Financial Services Group Inc.’s holdings in WaFd were worth $397,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Headlands Technologies LLC purchased a new stake in shares of WaFd in the third quarter valued at approximately $35,000. EMC Capital Management lifted its holdings in WaFd by 90.2% during the third quarter. EMC Capital Management now owns 4,184 shares of the bank’s stock valued at $107,000 after purchasing an additional 1,984 shares in the last quarter. Covestor Ltd grew its position in shares of WaFd by 22.6% in the third quarter. Covestor Ltd now owns 7,489 shares of the bank’s stock valued at $192,000 after purchasing an additional 1,383 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in shares of WaFd during the 4th quarter worth about $201,000. Finally, Diversified Trust Co acquired a new position in shares of WaFd during the 4th quarter worth about $221,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WAFD. Stephens reissued an “equal weight” rating and set a $32.00 target price on shares of WaFd in a report on Tuesday, April 23rd. DA Davidson restated a “buy” rating and issued a $35.00 price objective on shares of WaFd in a report on Thursday, April 11th. StockNews.com lowered shares of WaFd from a “hold” rating to a “sell” rating in a report on Thursday, March 21st. Finally, Piper Sandler raised their price target on shares of WaFd from $29.00 to $31.00 and gave the stock a “neutral” rating in a research note on Monday, May 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $33.25.

Check Out Our Latest Report on WaFd

WaFd Stock Performance

NASDAQ WAFD opened at $27.58 on Tuesday. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.03 and a current ratio of 1.17. The stock’s fifty day moving average is $28.06 and its two-hundred day moving average is $28.87. The firm has a market capitalization of $2.25 billion, a P/E ratio of 10.49 and a beta of 0.85. WaFd, Inc has a fifty-two week low of $23.36 and a fifty-two week high of $34.07.

WaFd (NASDAQ:WAFDGet Free Report) last announced its quarterly earnings results on Monday, April 22nd. The bank reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.42. WaFd had a net margin of 15.33% and a return on equity of 10.02%. The firm had revenue of $171.99 million for the quarter, compared to analysts’ expectations of $170.74 million. During the same quarter in the previous year, the company posted $0.95 EPS. The company’s revenue was down 7.1% compared to the same quarter last year. On average, research analysts anticipate that WaFd, Inc will post 2.79 earnings per share for the current year.

WaFd Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 24th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $1.04 annualized dividend and a dividend yield of 3.77%. WaFd’s dividend payout ratio (DPR) is 39.54%.

WaFd Company Profile

(Free Report)

WaFd, Inc operates as the bank holding company for Washington Federal Bank 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.

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Institutional Ownership by Quarter for WaFd (NASDAQ:WAFD)

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