StockNews.com Upgrades WaFd (NASDAQ:WAFD) to “Hold”

WaFd (NASDAQ:WAFD) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Saturday.

WAFD has been the topic of a number of other research reports. Piper Sandler cut their target price on shares of WaFd from $37.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 21st. DA Davidson cut WaFd from a “buy” rating to a “neutral” rating and cut their price objective for the company from $35.00 to $32.00 in a research note on Thursday, February 6th. Stephens reaffirmed an “equal weight” rating and set a $38.00 target price on shares of WaFd in a report on Friday, January 17th. Finally, Keefe, Bruyette & Woods reduced their target price on WaFd from $42.00 to $34.00 and set a “market perform” rating on the stock in a report on Tuesday, January 21st. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, WaFd currently has an average rating of “Hold” and an average target price of $33.75.

WaFd Price Performance

WAFD stock opened at $24.54 on Friday. The stock’s 50 day moving average is $28.42 and its two-hundred day moving average is $32.03. WaFd has a 52-week low of $23.75 and a 52-week high of $38.62. The company has a market capitalization of $2.00 billion, a PE ratio of 11.31 and a beta of 0.79. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.05.

WaFd (NASDAQ:WAFD) last released its quarterly earnings results on Friday, April 11th. The bank reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.05. WaFd had a net margin of 12.66% and a return on equity of 8.78%. Analysts predict that WaFd will post 2.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On WaFd

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. CIBC Asset Management Inc lifted its holdings in shares of WaFd by 4.8% in the 4th quarter. CIBC Asset Management Inc now owns 7,424 shares of the bank’s stock worth $239,000 after purchasing an additional 338 shares during the last quarter. Cooper Financial Group increased its position in WaFd by 3.2% in the fourth quarter. Cooper Financial Group now owns 11,134 shares of the bank’s stock worth $359,000 after buying an additional 345 shares during the period. Harbour Investments Inc. boosted its holdings in shares of WaFd by 29.6% during the fourth quarter. Harbour Investments Inc. now owns 1,752 shares of the bank’s stock valued at $56,000 after acquiring an additional 400 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in shares of WaFd by 0.4% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 98,124 shares of the bank’s stock valued at $3,162,000 after acquiring an additional 433 shares during the period. Finally, Summit Investment Advisors Inc. increased its holdings in shares of WaFd by 6.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,987 shares of the bank’s stock worth $225,000 after acquiring an additional 450 shares during the period. 83.71% of the stock is currently owned by institutional investors and hedge funds.

WaFd Company Profile

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.