PNC Financial Services Group Inc. Has $397,000 Position in WaFd, Inc. (NASDAQ:WAFD)

PNC Financial Services Group Inc. boosted its holdings in WaFd, Inc. (NASDAQ:WAFD) by 3.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,892 shares of the bank’s stock after buying an additional 468 shares during the period. PNC Financial Services Group Inc.’s holdings in WaFd were worth $397,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Rhino Investment Partners Inc raised its holdings in WaFd by 344.3% in the fourth quarter. Rhino Investment Partners Inc now owns 454,343 shares of the bank’s stock worth $14,648,000 after purchasing an additional 352,076 shares during the period. Basswood Capital Management L.L.C. acquired a new stake in WaFd in the fourth quarter worth $9,210,000. Invesco Ltd. raised its holdings in WaFd by 63.6% in the fourth quarter. Invesco Ltd. now owns 493,501 shares of the bank’s stock worth $15,910,000 after purchasing an additional 191,855 shares during the period. Victory Capital Management Inc. raised its holdings in WaFd by 46.9% in the first quarter. Victory Capital Management Inc. now owns 273,094 shares of the bank’s stock worth $7,805,000 after purchasing an additional 87,235 shares during the period. Finally, Systematic Financial Management LP raised its holdings in WaFd by 5.2% in the fourth quarter. Systematic Financial Management LP now owns 1,506,368 shares of the bank’s stock worth $48,565,000 after purchasing an additional 73,845 shares during the period. 83.71% of the stock is currently owned by institutional investors and hedge funds.

WaFd Stock Performance

Shares of NASDAQ:WAFD opened at $31.06 on Friday. WaFd, Inc. has a 12 month low of $23.75 and a 12 month high of $38.62. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.71. The company’s fifty day simple moving average is $29.63 and its 200 day simple moving average is $28.96. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of 11.81 and a beta of 0.90.

WaFd (NASDAQ:WAFD) last issued its quarterly earnings data on Thursday, July 17th. The bank reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.06. WaFd had a net margin of 15.57% and a return on equity of 8.57%. The business had revenue of $186.26 million for the quarter, compared to analyst estimates of $184.47 million. As a group, research analysts forecast that WaFd, Inc. will post 2.56 EPS for the current fiscal year.

WaFd Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 22nd will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Friday, August 22nd. WaFd’s dividend payout ratio (DPR) is presently 41.06%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. DA Davidson increased their target price on shares of WaFd from $29.00 to $33.00 and gave the stock a “neutral” rating in a report on Monday, July 21st. Keefe, Bruyette & Woods increased their target price on shares of WaFd from $30.00 to $32.00 and gave the stock a “market perform” rating in a report on Monday, July 21st. Wall Street Zen upgraded shares of WaFd from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Piper Sandler increased their target price on shares of WaFd from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Monday, July 21st. Finally, Stephens increased their target price on shares of WaFd from $32.00 to $33.00 and gave the stock an “equal weight” rating in a report on Monday, July 21st. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, WaFd presently has a consensus rating of “Hold” and a consensus price target of $32.25.

WaFd 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.