StockNews.com Upgrades Washington Federal (NASDAQ:WAFD) to “Buy”

Washington Federal (NASDAQ:WAFDGet Rating) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

Separately, DA Davidson set a $41.00 target price on shares of Washington Federal in a research report on Friday, July 15th.

Washington Federal Price Performance

NASDAQ:WAFD opened at $31.92 on Wednesday. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 10.50 and a beta of 0.81. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.00 and a current ratio of 1.00. The company has a 50-day moving average of $32.97 and a 200-day moving average of $32.27. Washington Federal has a 52 week low of $29.46 and a 52 week high of $38.06.

Washington Federal (NASDAQ:WAFDGet Rating) last announced its earnings results on Wednesday, July 13th. The bank reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.12. The business had revenue of $169.30 million during the quarter, compared to analysts’ expectations of $157.80 million. Washington Federal had a net margin of 31.21% and a return on equity of 11.50%. The firm’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter last year, the company posted $0.61 EPS. As a group, equities research analysts anticipate that Washington Federal will post 3.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Washington Federal

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in shares of Washington Federal by 3.7% in the 1st quarter. BlackRock Inc. now owns 7,869,600 shares of the bank’s stock valued at $258,281,000 after purchasing an additional 278,963 shares during the last quarter. State Street Corp boosted its stake in shares of Washington Federal by 13.9% in the 2nd quarter. State Street Corp now owns 3,124,445 shares of the bank’s stock valued at $93,796,000 after purchasing an additional 381,753 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Washington Federal by 9.7% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 2,073,735 shares of the bank’s stock valued at $68,060,000 after purchasing an additional 183,238 shares during the last quarter. Frontier Capital Management Co. LLC boosted its stake in shares of Washington Federal by 0.9% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,251,786 shares of the bank’s stock valued at $37,579,000 after purchasing an additional 11,433 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Washington Federal by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 1,242,790 shares of the bank’s stock valued at $41,484,000 after purchasing an additional 21,146 shares during the last quarter. Institutional investors and hedge funds own 81.63% of the company’s stock.

Washington Federal Company Profile

(Get Rating)

Washington Federal, Inc operates as the bank holding company for Washington Federal Bank, National Association 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.

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