Principal Financial Group Inc. increased its stake in Washington Federal, Inc. (NASDAQ:WAFD – Get Rating) by 5.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 534,004 shares of the bank’s stock after acquiring an additional 29,353 shares during the period. Principal Financial Group Inc.’s holdings in Washington Federal were worth $16,031,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the stock. Teacher Retirement System of Texas boosted its position in shares of Washington Federal by 2.5% in the first quarter. Teacher Retirement System of Texas now owns 13,417 shares of the bank’s stock worth $440,000 after acquiring an additional 331 shares during the last quarter. WINTON GROUP Ltd boosted its position in shares of Washington Federal by 0.7% in the first quarter. WINTON GROUP Ltd now owns 51,649 shares of the bank’s stock worth $1,695,000 after acquiring an additional 354 shares during the last quarter. Retirement Systems of Alabama boosted its position in shares of Washington Federal by 0.5% in the second quarter. Retirement Systems of Alabama now owns 86,032 shares of the bank’s stock worth $2,583,000 after acquiring an additional 451 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of Washington Federal by 1.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 43,406 shares of the bank’s stock worth $1,425,000 after acquiring an additional 464 shares during the last quarter. Finally, D.A. Davidson & CO. boosted its position in shares of Washington Federal by 1.2% in the second quarter. D.A. Davidson & CO. now owns 42,021 shares of the bank’s stock worth $1,261,000 after acquiring an additional 498 shares during the last quarter. 81.63% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on WAFD shares. StockNews.com raised shares of Washington Federal from a “hold” rating to a “buy” rating in a research report on Friday, November 11th. DA Davidson lifted their price target on shares of Washington Federal from $38.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, October 17th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Washington Federal from $41.00 to $48.00 and gave the company an “outperform” rating in a research report on Sunday, October 16th.
Washington Federal Trading Down 1.3 %
Washington Federal (NASDAQ:WAFD – Get Rating) last announced its quarterly earnings results on Thursday, October 13th. The bank reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.16. The firm had revenue of $186.60 million for the quarter, compared to analysts’ expectations of $174.10 million. Washington Federal had a net margin of 32.21% and a return on equity of 12.38%. Washington Federal’s revenue was up 23.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 earnings per share. On average, analysts anticipate that Washington Federal, Inc. will post 4.24 EPS for the current year.
Washington Federal Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 18th will be paid a dividend of $0.24 per share. The ex-dividend date is Thursday, November 17th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.76%. Washington Federal’s dividend payout ratio is currently 28.32%.
Washington Federal Profile
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.
- Get a free copy of the StockNews.com research report on Washington Federal (WAFD)
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