WaFd Receives Sell Rating From StockNews.com Amid Analyst Reviews

Investment analysts at StockNews.com have downgraded Washington Federal Inc., commonly known as WaFd (NASDAQ:WAFD), from a 'hold' to a 'sell' rating, according to their most recent report delivered to investors on Saturday. This shift in rating is part of a wider spectrum of financial expert opinions regarding the banking company's stock performance and strategic positioning in the market.

Analyst Perspectives on WaFd

Alongside the downgrade by StockNews.com, WaFd has been under the scrutiny of other market analysts. Keefe, Bruyette & Woods have revised their price target for WaFd, dropping from $37.00 to $35.00, yet still uphold an 'outperform' stance on the company. On the other hand, Stephens has maintained an 'equal weight' rating on WaFd, also with a target price of $35.00. These varied outlooks cumulatively result in WaFd owning an average 'Hold' rating from multiple analysts, with an average price objective of $33.50, as reported by MarketBeat.com.

Market Performance of WaFd

WaFd's stock commenced trading at $28.06 on the last Friday documented prior to the release of this article. The company's market capitalization is estimated at $1.82 billion and it boasts a noteworthy PE ratio of 8.23, in addition to a beta of 0.84. Financial ratios such as a quick and current ratio both stand at 1.15, while the company's debt-to-equity ratio is at 1.80. Over the past several months, WaFd shares have been hovering around a 50-day moving average price of $29.22 and a 200-day moving average price of $27.98. The banking firm has seen a 52-week low of $23.36 and peaked at $35.02 within the same timeframe.

Announcing its earnings on January 16th, WaFd reported an earnings per share (EPS) of $0.85 for the quarter, which surpassed the consensus estimate by $0.08. Despite the recognized revenue of $166.40 million, the figure fell short of analyst expectations, which stood at $180.45 million. The company faced a 14.4% year-over-year decline in quarterly revenue. However, with a return on equity of 11.19% and a net margin of 20.58%, WaFd still shows strong financial health. Analysts expect WaFd to register earnings of $2.74 per share for the present fiscal year.

Institutional Investments in WaFd

There has been a mix of buying and selling of WaFd shares among institutional investors and hedge funds. Highlighting a few recent transactions, Headlands Technologies LLC initiated a position worth $35,000 in WaFd during the third quarter. OLD Point Trust & Financial Services N A also started a new position in the second quarter, valued at $54,000. Meanwhile, international players such as Point72 Hong Kong Ltd entered the fray with an investment worth $82,000. Allspring Global Investments Holdings LLC and EMC Capital Management have increased their holdings, emphasizing the continued interest of institutional investors, who currently own 86.36% of WaFd's stock.

About WaFd

Washington Federal Inc., or WaFd, performs as the parent company for Washington Federal Bank, which offers a variety of banking services including lending, depository, insurance, and other financial products across the United States. The company provides various deposit accounts such as business and personal checking, term certificates of deposit, along with money market accounts and savings options. Yet the recent downgrade from stock analysts indicate that investors may need to exercise caution and closely evaluate the bank's future performance.

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