US Bancorp DE Trims Stock Position in WaFd, Inc. $WAFD

US Bancorp DE lessened its stake in shares of WaFd, Inc. (NASDAQ:WAFD) by 60.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,423 shares of the bank’s stock after selling 2,215 shares during the quarter. US Bancorp DE’s holdings in WaFd were worth $41,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. TD Private Client Wealth LLC lifted its position in shares of WaFd by 35.2% during the 1st quarter. TD Private Client Wealth LLC now owns 2,002 shares of the bank’s stock worth $57,000 after buying an additional 521 shares during the last quarter. KBC Group NV boosted its stake in WaFd by 12.7% during the 1st quarter. KBC Group NV now owns 4,239 shares of the bank’s stock worth $121,000 after purchasing an additional 477 shares during the period. Aquatic Capital Management LLC acquired a new stake in WaFd during the 4th quarter worth $141,000. Summit Investment Advisors Inc. boosted its stake in WaFd by 6.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,987 shares of the bank’s stock worth $225,000 after purchasing an additional 450 shares during the period. Finally, Crestline Management LP acquired a new stake in WaFd during the 4th quarter worth $258,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

WaFd Stock Up 0.6%

Shares of WaFd stock opened at $30.89 on Wednesday. The company has a market cap of $2.43 billion, a P/E ratio of 11.75 and a beta of 0.90. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.98 and a current ratio of 0.98. WaFd, Inc. has a one year low of $23.75 and a one year high of $38.62. The firm has a fifty day moving average of $29.72 and a two-hundred day moving average of $28.97.

WaFd (NASDAQ:WAFD) last announced its quarterly earnings results on Thursday, July 17th. The bank reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.06. The business had revenue of $186.26 million during the quarter, compared to the consensus estimate of $184.47 million. WaFd had a net margin of 15.57% and a return on equity of 8.57%. On average, analysts forecast that WaFd, Inc. will post 2.56 earnings per share for the current year.

WaFd Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 22nd will be issued a $0.27 dividend. 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 currently 41.06%.

Wall Street Analyst Weigh In

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

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.