Washington Federal Inc. (NASDAQ:WAFD)’s share price shot up 5.7% during mid-day trading on Tuesday following a stronger than expected earnings report. The company traded as high as $32.30 and last traded at $32.27. 1,114,538 shares changed hands during mid-day trading, an increase of 181% from the average session volume of 396,728 shares. The stock had previously closed at $30.53.
The bank reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.02. Washington Federal had a net margin of 30.16% and a return on equity of 10.31%. During the same period in the prior year, the company earned $0.57 earnings per share.
A number of brokerages have weighed in on WAFD. ValuEngine raised shares of Washington Federal from a “sell” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research raised shares of Washington Federal from a “sell” rating to a “hold” rating in a report on Monday, March 4th. BidaskClub downgraded shares of Washington Federal from a “buy” rating to a “hold” rating in a report on Thursday, March 14th. Finally, TheStreet raised shares of Washington Federal from a “c+” rating to a “b-” rating in a report on Thursday, January 24th. Four analysts have rated the stock with a hold rating, Washington Federal currently has a consensus rating of “Hold” and an average price target of $36.00.
The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $2.51 billion, a P/E ratio of 13.45, a PEG ratio of 1.76 and a beta of 1.11.
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Washington Federal Company Profile (NASDAQ:WAFD)
Washington Federal, Inc operates as the bank holding company for Washington Federal, National Association that provides lending, depository, insurance, and other banking services in the United States. The company accepts deposit products, including business and personal checking accounts, and term certificates of deposit, as well as money market accounts and passbook savings accounts.
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