WaFd Elevated to Hold Status by StockNews.com

Analysts Upgrade WaFd's Stock Rating

Equity research analysts at StockNews.com have revised their view on WaFd (NASDAQ:WAFD), changing the rating from a 'sell' to a 'hold'. This update was shared with investors in a recent announcement made on Friday.

Broad Analyst Consensus on WaFd

While opinions vary across the financial analyst community, WaFd has been the subject of various research reports. Notably, Keefe, Bruyette & Woods adjusted their price target from $37.00 to $35.00, yet maintained an 'outperform' rating on the company. In contrast, Stephens reiterated an 'equal weight' rating with the same $35.00 price target. Overall, the stock has received a mix of 'hold' and 'buy' ratings, and carries a consensus rating of 'Hold' alongside an average target price of $33.50, according to data from MarketBeat.

WaFd Performs Steady in the Market

WaFd's shares saw a slight increase of 0.3%, opening at $27.24 on Friday. The bank's market valuation stands at $1.76 billion, with a P/E ratio of 7.99 and a beta of 0.87. Financial ratios show a quick ratio and a current ratio at 1.15, with a debt-to-equity ratio of 1.80. Share prices have fluctuated between $23.36 and $35.67 over the past 12 months, and the moving average prices are $29.89 for 50 days and $28.02 for 200 days.

WaFd's Quarterly Earnings Report

The latest quarterly earnings report revealed earnings per share (EPS) of $0.85, surpassing the expected $0.77 by $0.08. Despite revenues reaching $166.40 million, this figure fell short of analysts' projection of $180.45 million. Comparing year-over-year, there's a noticeable decline of 14.4% in revenues; however, the company still upholds a healthy net margin of 20.58% and a return on equity of 11.19%. Analysts are predicting an EPS of 2.74 for the present fiscal year.

Institutional Interest in WaFd

Recent movements by institutional investors include both increased and reduced stakes in WaFd. Several prominent firms have taken positions in the company, ranging from Headlands Technologies LLC's new stake worth approximately $35,000 to Captrust Financial Advisors increasing their shares by 979.4%, now holding a value of $134,000 in the bank. Institutional investors and hedge funds own about 86.36% of WaFd's stock.

About WaFd

WaFd, Inc is the parent company of Washington Federal Bank, which offers a variety of banking services such as loans, deposit accounts, insurance, and other financial products in the United States. Their services cater to both business and personal finance needs.

upgrade, hold, banking