ValuEngine Upgrades Washington Federal (WAFD) to “Buy”

Washington Federal (NASDAQ:WAFD) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a report released on Friday.

Several other equities research analysts have also commented on WAFD. Zacks Investment Research upgraded shares of Washington Federal from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research note on Friday, September 1st. Royal Bank Of Canada reiterated a “hold” rating and set a $35.00 price target on shares of Washington Federal in a research note on Friday, September 8th. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $34.00 price target on shares of Washington Federal in a research note on Friday, October 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Washington Federal currently has an average rating of “Hold” and an average price target of $36.00.

Shares of Washington Federal (NASDAQ WAFD) opened at $34.95 on Friday. Washington Federal has a one year low of $29.80 and a one year high of $35.95. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market cap of $3,023.67, a price-to-earnings ratio of 17.94, a P/E/G ratio of 1.68 and a beta of 1.15.

Washington Federal (NASDAQ:WAFD) last announced its quarterly earnings results on Wednesday, October 18th. The bank reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.03. Washington Federal had a net margin of 28.87% and a return on equity of 8.63%. The firm had revenue of $128.69 million for the quarter, compared to analyst estimates of $121.46 million. analysts predict that Washington Federal will post 2.07 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of the business. FMR LLC grew its position in Washington Federal by 7.4% during the 2nd quarter. FMR LLC now owns 8,016,631 shares of the bank’s stock worth $266,152,000 after purchasing an additional 549,742 shares during the last quarter. State Street Corp grew its position in Washington Federal by 5.1% during the 2nd quarter. State Street Corp now owns 3,804,883 shares of the bank’s stock worth $126,320,000 after purchasing an additional 185,062 shares during the last quarter. Northern Trust Corp grew its position in Washington Federal by 12.8% during the 2nd quarter. Northern Trust Corp now owns 3,039,627 shares of the bank’s stock worth $100,916,000 after purchasing an additional 343,912 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Washington Federal by 12.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,971,317 shares of the bank’s stock worth $65,448,000 after purchasing an additional 217,136 shares during the last quarter. Finally, Frontier Capital Management Co. LLC grew its position in Washington Federal by 2.2% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 1,958,375 shares of the bank’s stock worth $65,899,000 after purchasing an additional 41,724 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors.

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Washington Federal Company Profile

Washington Federal, Inc is a bank holding company. The Company conducts its operations through a federally insured national bank subsidiary, Washington Federal, National Association (the Bank). The business of the Bank consists primarily of accepting deposits from the general public and investing these funds in loans of various types, including first lien mortgages on single-family dwellings, construction loans, land acquisition and development loans, loans on multi-family, commercial real estate and other income producing properties, home equity loans and business loans.

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