Washington Federal (NASDAQ:WAFD) Lowered to “Sell” at BidaskClub

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BidaskClub cut shares of Washington Federal (NASDAQ:WAFD) from a hold rating to a sell rating in a report published on Saturday morning, BidAskClub reports.

Separately, Zacks Investment Research raised shares of Washington Federal from a sell rating to a hold rating and set a $27.00 price target for the company in a report on Monday, July 6th.

NASDAQ WAFD opened at $24.52 on Friday. Washington Federal has a one year low of $20.92 and a one year high of $38.26. The company has a 50-day simple moving average of $26.30 and a 200-day simple moving average of $29.03. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market capitalization of $1.90 billion, a PE ratio of 9.22 and a beta of 0.98.

Washington Federal (NASDAQ:WAFD) last posted its quarterly earnings results on Tuesday, April 21st. The bank reported $0.49 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.03). Washington Federal had a net margin of 27.66% and a return on equity of 9.38%. The business had revenue of $133.85 million during the quarter, compared to analyst estimates of $133.20 million. Equities analysts forecast that Washington Federal will post 2.01 earnings per share for the current year.

In other news, CEO Brent J. Beardall bought 4,167 shares of Washington Federal stock in a transaction on Wednesday, May 13th. The stock was purchased at an average cost of $23.42 per share, with a total value of $97,591.14. Following the purchase, the chief executive officer now directly owns 264,579 shares of the company’s stock, valued at approximately $6,196,440.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.21% of the company’s stock.

A number of institutional investors have recently bought and sold shares of WAFD. Janus Henderson Group PLC boosted its stake in Washington Federal by 49.7% during the 1st quarter. Janus Henderson Group PLC now owns 3,103,441 shares of the bank’s stock valued at $80,565,000 after purchasing an additional 1,030,905 shares during the period. Norges Bank acquired a new position in Washington Federal during the 4th quarter valued at about $34,558,000. Victory Capital Management Inc. boosted its stake in Washington Federal by 219.2% during the 1st quarter. Victory Capital Management Inc. now owns 559,340 shares of the bank’s stock valued at $14,520,000 after purchasing an additional 384,113 shares during the period. Eaton Vance Management acquired a new position in Washington Federal during the 1st quarter valued at about $8,812,000. Finally, Acadian Asset Management LLC raised its position in shares of Washington Federal by 20.1% during the 1st quarter. Acadian Asset Management LLC now owns 1,045,005 shares of the bank’s stock worth $27,128,000 after buying an additional 174,873 shares in the last quarter. 80.47% of the stock is owned by hedge funds and other institutional investors.

About Washington Federal

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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