Washington Federal (NASDAQ:WAFD) Downgraded by ValuEngine

ValuEngine cut shares of Washington Federal (NASDAQ:WAFD) from a buy rating to a hold rating in a research note released on Monday, April 2nd.

Several other research analysts also recently weighed in on the company. Zacks Investment Research downgraded Washington Federal from a strong-buy rating to a hold rating in a report on Tuesday, March 20th. BidaskClub upgraded Washington Federal from a sell rating to a hold rating in a report on Tuesday, February 6th. Keefe, Bruyette & Woods restated a hold rating and set a $38.00 price objective on shares of Washington Federal in a report on Thursday, January 18th. Finally, DA Davidson restated a hold rating and set a $39.00 price objective on shares of Washington Federal in a report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Washington Federal has an average rating of Hold and an average price target of $37.00.

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Shares of NASDAQ:WAFD traded down $0.45 during trading on Monday, hitting $32.30. 758,773 shares of the stock were exchanged, compared to its average volume of 499,691. Washington Federal has a 12-month low of $29.80 and a 12-month high of $37.70. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.02 and a quick ratio of 1.03. The firm has a market capitalization of $2,741.64, a price-to-earnings ratio of 16.94, a price-to-earnings-growth ratio of 1.37 and a beta of 1.14.



Washington Federal (NASDAQ:WAFD) last posted its earnings results on Wednesday, April 11th. The bank reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.02). The company had revenue of $129.89 million during the quarter, compared to analysts’ expectations of $131.87 million. Washington Federal had a net margin of 30.61% and a return on equity of 9.53%. During the same period in the previous year, the company posted $0.47 EPS. equities analysts anticipate that Washington Federal will post 2.37 earnings per share for the current year.

Washington Federal announced that its Board of Directors has authorized a share repurchase program on Wednesday, January 24th that allows the company to buyback 5,000,000 shares. This buyback authorization allows the bank to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Institutional investors have recently made changes to their positions in the stock. Xact Kapitalforvaltning AB purchased a new position in Washington Federal in the 4th quarter valued at about $540,000. Balentine LLC bought a new position in shares of Washington Federal during the fourth quarter worth about $200,000. Segall Bryant & Hamill LLC lifted its position in shares of Washington Federal by 9.9% during the fourth quarter. Segall Bryant & Hamill LLC now owns 212,394 shares of the bank’s stock worth $7,274,000 after purchasing an additional 19,103 shares during the last quarter. MetLife Investment Advisors LLC bought a new position in shares of Washington Federal during the fourth quarter worth about $3,279,000. Finally, Zeke Capital Advisors LLC bought a new position in shares of Washington Federal during the fourth quarter worth about $245,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

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About Washington Federal

Washington Federal, Inc operates as the bank holding company for Washington Federal, National Association that provides lending, depository, insurance, and other banking services to consumers, mid-sized and large businesses, and owners and developers of commercial real estate in the United States. The company accepts deposit products, such as business and personal checking accounts, and term certificates of deposit, as well as money market accounts and passbook savings accounts.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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