Washington Federal Inc. (NASDAQ:WAFD) – Equities research analysts at DA Davidson dropped their Q3 2018 earnings per share (EPS) estimates for shares of Washington Federal in a research report issued on Wednesday, April 11th. DA Davidson analyst J. Rulis now forecasts that the bank will post earnings per share of $0.60 for the quarter, down from their prior estimate of $0.66. DA Davidson has a “Neutral” rating and a $36.00 price target on the stock. DA Davidson also issued estimates for Washington Federal’s Q4 2018 earnings at $0.62 EPS, FY2018 earnings at $2.38 EPS and FY2019 earnings at $2.60 EPS.
Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research cut Washington Federal from a “hold” rating to a “sell” rating in a research note on Monday. Piper Jaffray reaffirmed a “hold” rating and set a $35.00 target price on shares of Washington Federal in a research note on Thursday, April 12th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $38.00 target price on shares of Washington Federal in a research note on Thursday, January 18th. BidaskClub raised Washington Federal from a “sell” rating to a “hold” rating in a research note on Tuesday, February 6th. Finally, ValuEngine cut Washington Federal from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $37.00.
Shares of WAFD stock opened at $32.75 on Monday. The stock has a market capitalization of $2,741.64, a PE ratio of 16.88, a P/E/G ratio of 1.37 and a beta of 1.14. The company has a quick ratio of 1.03, a current ratio of 1.02 and a debt-to-equity ratio of 1.17. Washington Federal has a 1-year low of $29.80 and a 1-year high of $37.70.
Washington Federal (NASDAQ:WAFD) last issued its quarterly earnings results on Wednesday, April 11th. The bank reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.02). The company had revenue of $129.89 million during the quarter, compared to analyst estimates of $131.87 million. Washington Federal had a net margin of 30.61% and a return on equity of 9.53%. During the same period in the previous year, the company posted $0.47 EPS.
Washington Federal announced that its board has approved a stock repurchase program on Wednesday, January 24th that allows the company to buyback 5,000,000 shares. This buyback authorization allows the bank to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WAFD. Deutsche Bank AG grew its stake in Washington Federal by 387.0% during the fourth quarter. Deutsche Bank AG now owns 672,609 shares of the bank’s stock worth $23,034,000 after purchasing an additional 534,504 shares during the period. Millennium Management LLC grew its stake in Washington Federal by 576.0% during the fourth quarter. Millennium Management LLC now owns 386,926 shares of the bank’s stock worth $13,252,000 after purchasing an additional 329,688 shares during the period. JPMorgan Chase & Co. grew its stake in Washington Federal by 487.1% during the third quarter. JPMorgan Chase & Co. now owns 311,752 shares of the bank’s stock worth $10,584,000 after purchasing an additional 258,654 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Washington Federal by 217.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 328,466 shares of the bank’s stock worth $11,250,000 after purchasing an additional 225,038 shares during the period. Finally, BlackRock Inc. grew its stake in Washington Federal by 1.9% during the fourth quarter. BlackRock Inc. now owns 9,869,149 shares of the bank’s stock worth $338,017,000 after purchasing an additional 186,518 shares during the period. 84.38% of the stock is owned by institutional investors and hedge funds.
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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 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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