Principal Financial Group Inc. Has $13.30 Million Stock Holdings in Washington Federal, Inc. (NASDAQ:WAFD)

Principal Financial Group Inc. increased its position in shares of Washington Federal, Inc. (NASDAQ:WAFD – Get Rating) by 4.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 396,309 shares of the bank’s stock after purchasing an additional 17,278 shares during the quarter. Principal Financial Group Inc.’s holdings in Washington Federal were worth $13,296,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in WAFD. Ronald Blue Trust Inc. grew its position in Washington Federal by 123.8% during the fourth quarter. Ronald Blue Trust Inc. now owns 1,611 shares of the bank’s stock worth $48,000 after buying an additional 891 shares in the last quarter. US Bancorp DE grew its position in Washington Federal by 16.0% during the third quarter. US Bancorp DE now owns 2,105 shares of the bank’s stock worth $63,000 after buying an additional 290 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Washington Federal by 73.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,417 shares of the bank’s stock worth $72,000 after buying an additional 1,026 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in Washington Federal during the first quarter worth about $82,000. Finally, Marshall & Sullivan Inc. WA acquired a new stake in Washington Federal during the fourth quarter worth about $130,000. 80.35% of the stock is owned by institutional investors and hedge funds.

Washington Federal Stock Down 2.2 %

Shares of WAFD opened at $26.79 on Thursday. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 6.55 and a beta of 0.83. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.83. Washington Federal, Inc. has a 12 month low of $23.90 and a 12 month high of $39.17. The company has a 50-day moving average price of $28.34 and a two-hundred day moving average price of $32.48.

Washington Federal (NASDAQ:WAFD – Get Rating) last posted its earnings results on Thursday, April 13th. The bank reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.16). Washington Federal had a net margin of 31.00% and a return on equity of 14.12%. The firm had revenue of $185.11 million during the quarter, compared to the consensus estimate of $194.00 million. Equities analysts predict that Washington Federal, Inc. will post 4.01 EPS for the current fiscal year.

Washington Federal Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 2nd. Stockholders of record on Friday, May 19th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date is Thursday, May 18th. Washington Federal’s dividend payout ratio (DPR) is currently 24.45%.

Insider Activity

In other news, Director Randall H. Talbot bought 3,500 shares of the business’s stock in a transaction dated Friday, March 10th. The stock was bought at an average price of $31.10 per share, for a total transaction of $108,850.00. Following the completion of the purchase, the director now owns 51,879 shares of the company’s stock, valued at approximately $1,613,436.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Randall H. Talbot acquired 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The stock was purchased at an average price of $25.18 per share, for a total transaction of $125,900.00. Following the transaction, the director now directly owns 56,879 shares of the company’s stock, valued at approximately $1,432,213.22. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Randall H. Talbot acquired 3,500 shares of the company’s stock in a transaction that occurred on Friday, March 10th. The stock was bought at an average price of $31.10 per share, with a total value of $108,850.00. Following the transaction, the director now directly owns 51,879 shares in the company, valued at $1,613,436.90. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 15,848 shares of company stock worth $361,626. Insiders own 1.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on WAFD shares. DA Davidson decreased their target price on Washington Federal from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Monday, April 17th. Piper Sandler cut their price target on shares of Washington Federal from $33.00 to $29.00 and set a “neutral” rating for the company in a research note on Monday, April 17th. StockNews.com initiated coverage on shares of Washington Federal in a research note on Thursday, May 18th. They set a “sell” rating for the company. Finally, Keefe, Bruyette & Woods cut their price target on shares of Washington Federal from $41.00 to $38.00 and set an “outperform” rating for the company in a research note on Monday, April 17th.

Washington Federal Profile

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Washington Federal, Inc engages in the provision of lending, depository, insurance, and other banking services to consumers. It operates under the Commercial Loans and Consumer Loans segments. The Commercial Loans segment is disaggregated into five classes: multi-family, commercial real estate, commercial and industrial, construction, and land acquisition and development.