Meeder Asset Management Inc. Reduces Stake in WaFd, Inc (NASDAQ: WAFD)

Meeder Asset Management Inc. has significantly reduced its stake in WaFd, Inc (NASDAQ: WAFD - Free Report) by 68.8% during the fourth quarter, as reported in its latest SEC filing. Following this change, the firm now holds 12,643 shares of the bank's stock after selling 27,923 shares during the quarter. Based on its most recent disclosures, Meeder Asset's holdings in WaFd are valued at approximately $408,000.

Other institutional investors have also been active with WaFd's stock recently. For example, Vanguard Group Inc. increased its holdings by 1.8% in the fourth quarter and now owns 9,420,004 shares, which are valued at around $303,701,000, after acquiring an additional 166,931 shares. Similarly, State Street Corp raised its position by 5.2% during the third quarter, resulting in a total of 3,969,790 shares worth $138,347,000 after purchasing another 195,845 shares. Additionally, American Century Companies Inc. boosted its stake by 15.3% in the fourth quarter, now owning 1,774,081 shares valued at $57,196,000 after acquiring 234,977 shares. Geode Capital Management LLC and Systematic Financial Management LP increased their holdings by 10.0% and 21.5%, respectively, during the third quarter. Overall, it is noted that institutional investors and hedge funds collectively own 83.71% of WaFd's stock.

Recent Analyst Ratings

In recent evaluations, various equities research analysts have provided insights into the stock's performance. Piper Sandler reduced their target price for WaFd shares from $37.00 to $31.00 and assigned a "neutral" rating in a report dated January 21st. Conversely, Stephens maintained an "equal weight" rating and set a price target of $38.00 in their report on January 17th. DA Davidson downgraded the stock from a "buy" to a "neutral" rating and lowered the target price from $35.00 to $32.00 on February 6th. In another report, StockNews.com upgraded WaFd's rating from "sell" to "hold" on March 6th. Lastly, Keefe, Bruyette & Woods adjusted their price objective from $42.00 to $34.00, indicating a "market perform" rating on January 21st. Currently, according to MarketBeat.com, five analysts have categorized the stock as a hold, with an average target price of $33.75.

Current Trading Performance

As of the latest trading session, NASDAQ: WAFD opened at $28.58. The company's 50-day moving average stands at $29.25, while its 200-day moving average is $32.72. WaFd, Inc has a market capitalization of $2.33 billion and a PE ratio of 13.17. Over the last year, the stock hit a low of $25.79 and a high of $38.62, demonstrating some volatility in its price range. The company displays a debt-to-equity ratio of 1.05, along with a current ratio and quick ratio both at 1.04.

Dividend Increase Announcement

Recently, WaFd announced a quarterly dividend payment, which was distributed on March 7th. Shareholders on record as of February 21st received a dividend of $0.27 per share, marking an increase from the prior quarterly dividend of $0.26. This translates to an annualized dividend of $1.08, yielding a dividend yield of 3.78%. The ex-dividend date was also set for February 21st, and WaFd's current dividend payout ratio stands at 49.77%.

Company Overview

WaFd, Inc operates as the parent company for Washington Federal Bank, offering a range of banking services in the United States. The bank provides various deposit products, such as personal and business checking accounts, term certificates of deposit, money market accounts, and savings accounts.

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Curious about other hedge fund interests in WAFD? Make sure to check the latest 13F filings and insider trading information.

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