The Washington Federal, Inc. (WAFD) Announces Quarterly Earnings Results

The Washington Federal, Inc. (WAFD) Announces Quarterly  Earnings Results

Washington Federal, Inc. (NASDAQ:WAFD) announced its earnings results on Tuesday. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.02. Washington Federal had a net margin of 28.04% and a return on equity of 8.55%.

Shares of Washington Federal (NASDAQ:WAFD) opened at 33.20 on Thursday. The company’s 50-day moving average is $34.20 and its 200 day moving average is $28.58. The stock has a market capitalization of $2.96 billion, a P/E ratio of 18.65 and a beta of 1.14. Washington Federal has a 52 week low of $19.10 and a 52 week high of $35.95.

In other Washington Federal news, CEO Roy M. Whitehead sold 17,485 shares of the firm’s stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $27.19, for a total transaction of $475,417.15. Following the sale, the chief executive officer now directly owns 397,860 shares of the company’s stock, valued at approximately $10,817,813.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brent J. Beardall sold 30,000 shares of the firm’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $27.78, for a total transaction of $833,400.00. Following the sale, the insider now directly owns 186,242 shares in the company, valued at $5,173,802.76. The disclosure for this sale can be found here. Company insiders own 1.28% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. BlackRock Investment Management LLC boosted its stake in Washington Federal by 4.7% in the second quarter. BlackRock Investment Management LLC now owns 603,540 shares of the company’s stock valued at $14,642,000 after buying an additional 27,061 shares in the last quarter. BlackRock Inc. boosted its stake in Washington Federal by 36.6% in the second quarter. BlackRock Inc. now owns 55,560 shares of the company’s stock valued at $1,348,000 after buying an additional 14,881 shares in the last quarter. BlackRock Fund Advisors boosted its stake in Washington Federal by 0.4% in the second quarter. BlackRock Fund Advisors now owns 4,652,160 shares of the company’s stock valued at $112,861,000 after buying an additional 17,208 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Washington Federal by 0.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,782,774 shares of the company’s stock valued at $67,510,000 after buying an additional 18,609 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its stake in Washington Federal by 2.5% in the second quarter. Ameritas Investment Partners Inc. now owns 21,719 shares of the company’s stock valued at $527,000 after buying an additional 534 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Separately, Zacks Investment Research raised shares of Washington Federal from a “hold” rating to a “strong-buy” rating and set a $32.00 target price on the stock in a research note on Tuesday, November 8th.

About Washington Federal

Washington Federal, Inc is a bank holding company. The Company conducts its operations through a federally-insured national bank subsidiary, Washington Federal, National Association (the Bank). The Company’s principal activities consists of taking deposits from the public and investing these funds in loans of various types, including first lien mortgages on single-family dwellings, construction loans, land acquisition and development loans, loans on multi-family and other income producing properties, home equity loans and business loans.

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