The Washington Federal Inc. (WAFD) Upgraded to “Buy” by Zacks Investment Research

The Washington Federal Inc. (WAFD) Upgraded to “Buy” by Zacks Investment Research

According to Zacks, “Washington Federal’s shares outperformed the Zacks categorized Northeast Banks industry, in the last one year. The company’s the deal to acquire Anchor Bancorp is anticipated to be accretive to earnings, upon integration. Further, continued improvement in loan balances is expected to fuel organic growth in the quarters ahead. Also, a gradual economic recovery and improving rate scenario should lead to easing of margin pressure in the quarters ahead. However, higher expenses and exposure to risky loan portfolios continue to keep the company’s financials under pressure.”

Zacks Investment Research upgraded shares of Washington Federal Inc. (NASDAQ:WAFD) from a hold rating to a buy rating in a research report sent to investors on Tuesday. Zacks Investment Research currently has $36.00 target price on the bank’s stock.

Shares of Washington Federal (WAFD) opened at 32.50 on Tuesday. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of 17.28 and a beta of 1.08. The company’s 50-day moving average is $33.05 and its 200-day moving average is $33.37. Washington Federal has a 12 month low of $22.74 and a 12 month high of $35.95. Washington Federal (NASDAQ:WAFD) last released its earnings results on Thursday, April 13th. The bank reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.02. Washington Federal had a net margin of 29.21% and a return on equity of 8.62%. The business had revenue of $117.86 million for the quarter, compared to the consensus estimate of $115.94 million. On average, equities research analysts forecast that Washington Federal will post $1.89 earnings per share for the current fiscal year.

Shares of Washington Federal (WAFD) opened at 32.50 on Tuesday. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of 17.28 and a beta of 1.08. The company’s 50-day moving average is $33.05 and its 200-day moving average is $33.37. Washington Federal has a 12 month low of $22.74 and a 12 month high of $35.95. The company also recently declared a quarterly dividend, which was paid on Friday, May 19th. Stockholders of record on Friday, May 5th were issued a dividend of $0.15 per share. The ex-dividend date was Wednesday, May 3rd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.85%. Washington Federal’s dividend payout ratio is currently 32.09%.

In other news, Director Anna C. Johnson sold 4,200 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $32.25, for a total transaction of $135,450.00. Following the sale, the director now owns 28,590 shares in the company, valued at $922,027.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.28% of the stock is owned by insiders. Several large investors have recently added to or reduced their stakes in the stock. Century Capital Management LLC raised its stake in Washington Federal by 5.7% in the fourth quarter. Century Capital Management LLC now owns 308,287 shares of the bank’s stock worth $10,590,000 after buying an additional 16,493 shares in the last quarter. Lesa Sroufe & Co raised its stake in Washington Federal by 0.9% in the third quarter. Lesa Sroufe & Co now owns 214,286 shares of the bank’s stock worth $5,717,000 after buying an additional 1,959 shares in the last quarter. BlackRock Group LTD raised its stake in Washington Federal by 0.9% in the third quarter. BlackRock Group LTD now owns 69,795 shares of the bank’s stock worth $1,863,000 after buying an additional 617 shares in the last quarter. Norges Bank purchased a new stake in Washington Federal during the fourth quarter worth about $50,836,000. Finally, Coldstream Capital Management Inc. raised its stake in Washington Federal by 3.1% in the fourth quarter. Coldstream Capital Management Inc. now owns 66,598 shares of the bank’s stock worth $2,288,000 after buying an additional 2,010 shares in the last quarter. Institutional investors and hedge funds own 82.83% of the company’s stock.

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 business of the Bank consists primarily of accepting deposits from the general 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, commercial real estate and other income producing properties, home equity loans and business loans.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:WAFD”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Get a free copy of the Zacks research report on Washington Federal (WAFD) For more information about research offerings from Zacks Investment Research, visit Zacks.com

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