Brokerages Set Washington Federal Inc. (WAFD) PT at $36.75

Washington Federal Inc. (NASDAQ:WAFD) has earned an average rating of “Hold” from the seven brokerages that are covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $36.75.

A number of brokerages recently weighed in on WAFD. Zacks Investment Research cut Washington Federal from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 20th. ValuEngine upgraded Washington Federal from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. BidaskClub upgraded Washington Federal from a “sell” rating to a “hold” rating in a research note on Tuesday, February 6th. Keefe, Bruyette & Woods restated a “hold” rating and set a $38.00 price objective on shares of Washington Federal in a research note on Thursday, January 18th. Finally, DA Davidson restated a “hold” rating and set a $39.00 price objective on shares of Washington Federal in a research note on Thursday, January 18th.

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Institutional investors and hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC acquired a new position in shares of Washington Federal during the fourth quarter worth about $199,000. Balentine LLC purchased a new stake in shares of Washington Federal during the fourth quarter worth about $200,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Washington Federal by 42.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,877 shares of the bank’s stock worth $201,000 after acquiring an additional 1,760 shares during the last quarter. Ramsey Quantitative Systems purchased a new stake in shares of Washington Federal during the fourth quarter worth about $239,000. Finally, Zeke Capital Advisors LLC purchased a new stake in shares of Washington Federal during the fourth quarter worth about $245,000. Institutional investors own 84.53% of the company’s stock.

Washington Federal stock traded down $0.05 during midday trading on Monday, reaching $34.60. The stock had a trading volume of 413,715 shares, compared to its average volume of 527,300. Washington Federal has a twelve month low of $29.80 and a twelve month high of $37.70. The stock has a market capitalization of $2,974.70, a P/E ratio of 16.71, a PEG ratio of 1.42 and a beta of 1.13. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.20.

Washington Federal (NASDAQ:WAFD) last issued its earnings results on Wednesday, January 17th. The bank reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.08. Washington Federal had a return on equity of 9.14% and a net margin of 30.20%. The firm had revenue of $122.53 million for the quarter, compared to analysts’ expectations of $124.98 million. sell-side analysts predict that Washington Federal will post 2.44 EPS for the current year.

Washington Federal declared that its Board of Directors has approved a share buyback program on Wednesday, January 24th that authorizes the company to buyback 5,000,000 outstanding shares. This buyback authorization authorizes the bank to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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Washington Federal Company Profile

Washington Federal, Inc operates as the bank holding company for Washington Federal, National Association that provides lending, depository, insurance, and other banking services to consumers, mid-sized and large businesses, and owners and developers of commercial real estate in the United States. The company accepts deposit products, such as business and personal checking accounts, and term certificates of deposit, as well as money market accounts and passbook savings accounts.

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