WaFd (NASDAQ:WAFD) Downgraded to “Sell” Rating by Wall Street Zen

WaFd (NASDAQ:WAFD) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

WAFD has been the topic of several other reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of WaFd in a research report on Monday, December 29th. Piper Sandler lowered their target price on WaFd from $33.50 to $30.50 and set a “neutral” rating for the company in a research note on Tuesday, January 20th. Royal Bank Of Canada set a $34.00 price target on WaFd in a research report on Tuesday, January 20th. Finally, Keefe, Bruyette & Woods upped their price target on WaFd from $31.00 to $34.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 20th. Five research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, WaFd presently has an average rating of “Hold” and a consensus target price of $32.90.

WaFd Stock Up 0.1%

Shares of WaFd stock opened at $32.62 on Friday. 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 company has a market cap of $2.49 billion, a P/E ratio of 11.29 and a beta of 0.86. The company’s fifty day simple moving average is $32.57 and its two-hundred day simple moving average is $31.05.

WaFd (NASDAQ:WAFD) last announced its earnings results on Friday, January 16th. The bank reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.01). WaFd had a net margin of 17.45% and a return on equity of 8.67%. The company had revenue of $188.32 million for the quarter, compared to the consensus estimate of $193.36 million. Research analysts anticipate that WaFd will post 2.56 EPS for the current year.

Insider Buying and Selling

In related news, CEO Brent J. Beardall bought 3,000 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were purchased at an average cost of $16.85 per share, with a total value of $50,550.00. Following the completion of the purchase, the chief executive officer owned 6,000 shares in the company, valued at approximately $101,100. The trade was a 100.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.49% of the company’s stock.

Institutional Trading of WaFd

Several institutional investors have recently added to or reduced their stakes in WAFD. Northwestern Mutual Wealth Management Co. raised its stake in shares of WaFd by 42.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,174 shares of the bank’s stock worth $34,000 after purchasing an additional 352 shares during the last quarter. McIlrath & Eck LLC boosted its position in shares of 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 buying an additional 485 shares during the last quarter. Hantz Financial Services Inc. raised its position in WaFd by 604.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,423 shares of the bank’s stock worth $43,000 after buying an additional 1,221 shares during the last quarter. Danske Bank A S purchased a new position in WaFd in the 3rd quarter worth about $51,000. Finally, Blue Trust Inc. lifted its stake in WaFd by 36.0% during the 3rd quarter. Blue Trust Inc. now owns 1,837 shares of the bank’s stock valued at $56,000 after acquiring an additional 486 shares during the period. 83.71% of the stock is currently owned by hedge funds and other 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.