WaFd (NASDAQ:WAFD) Given New $30.50 Price Target at Piper Sandler

WaFd (NASDAQ:WAFD) had its price target decreased by Piper Sandler from $33.50 to $30.50 in a report published on Tuesday, Marketbeat reports. Piper Sandler currently has a neutral rating on the bank’s stock.

Other equities analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods upped their target price on shares of WaFd from $31.00 to $34.00 and gave the company a “market perform” rating in a research note on Tuesday. Weiss Ratings reissued a “hold (c+)” rating on shares of WaFd in a report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of WaFd from a “sell” rating to a “hold” rating in a report on Saturday. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $32.90.

WaFd Stock Performance

WAFD stock opened at $31.44 on Tuesday. The stock’s 50 day simple moving average is $32.34 and its 200 day simple moving average is $30.98. The company has a current ratio of 0.95, a quick ratio of 0.96 and a debt-to-equity ratio of 0.89. WaFd has a 12-month low of $23.75 and a 12-month high of $33.92. The stock has a market capitalization of $2.40 billion, a PE ratio of 10.88 and a beta of 0.86.

WaFd (NASDAQ:WAFD) last posted its quarterly earnings results on Thursday, January 15th. The bank reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.01). The business had revenue of $191.37 million during the quarter, compared to analysts’ expectations of $193.36 million. WaFd had a return on equity of 8.67% and a net margin of 17.45%. As a group, research analysts forecast that WaFd will post 2.56 earnings per share for the current fiscal year.

WaFd Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Friday, November 21st were given a $0.27 dividend. The ex-dividend date was Friday, November 21st. This represents a $1.08 annualized dividend and a yield of 3.4%. WaFd’s dividend payout ratio (DPR) is presently 37.37%.

Insider Buying and Selling at WaFd

In other WaFd news, CEO Brent J. Beardall acquired 3,000 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The stock was purchased at an average price of $16.85 per share, with a total value of $50,550.00. Following the transaction, the chief executive officer directly owned 6,000 shares in the company, valued at approximately $101,100. The trade was a 100.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.49% of the stock is owned by corporate insiders.

Institutional Trading of WaFd

Institutional investors and hedge funds have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its stake in shares of WaFd by 42.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,174 shares of the bank’s stock valued at $34,000 after buying an additional 352 shares in the last quarter. McIlrath & Eck LLC raised its holdings in WaFd by 57.6% during the second quarter. McIlrath & Eck LLC now owns 1,327 shares of the bank’s stock valued at $39,000 after acquiring an additional 485 shares during the period. Hantz Financial Services Inc. lifted its position in shares of WaFd by 604.5% in the third quarter. Hantz Financial Services Inc. now owns 1,423 shares of the bank’s stock valued at $43,000 after acquiring an additional 1,221 shares in the last quarter. Danske Bank A S bought a new position in shares of WaFd in the third quarter worth about $51,000. Finally, Blue Trust Inc. grew its position in shares of WaFd by 36.0% during the third quarter. Blue Trust Inc. now owns 1,837 shares of the bank’s stock worth $56,000 after purchasing an additional 486 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors.

About WaFd

Washington Federal, Inc, doing business as WaFd Bank, is a publicly traded bank holding company headquartered in Seattle, Washington. Through its subsidiary, WaFd Bank, the company provides a range of banking and financial services to individuals, small-to-medium enterprises, and commercial clients. Established in 1917 as Ballard Savings & Loan in Seattle, the institution expanded over decades to serve customers across the Western United States under the Washington Federal name and has operated as a public company since the early 1980s.

WaFd Bank’s core offerings encompass deposit accounts such as checking, savings, money market, and certificates of deposit, alongside consumer and commercial lending products.