Stephens Reiterates Equal Weight Rating for WaFd (NASDAQ:WAFD)

WaFd (NASDAQ:WAFD)‘s stock had its “equal weight” rating reiterated by equities research analysts at Stephens in a research report issued on Monday,Benzinga reports. They currently have a $29.00 price target on the bank’s stock. Stephens’ price target would indicate a potential upside of 5.99% from the company’s previous close.

WAFD has been the topic of several other research reports. StockNews.com raised WaFd from a “sell” rating to a “hold” rating in a research note on Saturday. Piper Sandler decreased their target price on shares of WaFd from $37.00 to $31.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 21st. Keefe, Bruyette & Woods lowered their price target on WaFd from $42.00 to $34.00 and set a “market perform” rating for the company in a research report on Tuesday, January 21st. Finally, DA Davidson cut WaFd from a “buy” rating to a “neutral” rating and cut their target price for the company from $35.00 to $32.00 in a research note on Thursday, February 6th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $31.50.

WaFd Stock Performance

Shares of WAFD stock opened at $27.36 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.05. WaFd has a 52 week low of $23.75 and a 52 week high of $38.62. The firm has a market capitalization of $2.23 billion, a PE ratio of 12.61 and a beta of 0.79. The company has a 50 day moving average price of $28.27 and a 200-day moving average price of $31.92.

WaFd (NASDAQ:WAFD) last announced its earnings results on Friday, April 11th. The bank reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.05. The business had revenue of $179.79 million during the quarter, compared to analysts’ expectations of $184.17 million. WaFd had a net margin of 12.66% and a return on equity of 8.78%. As a group, equities research analysts expect that WaFd will post 2.56 earnings per share for the current year.

Hedge Funds Weigh In On WaFd

A number of hedge funds and other institutional investors have recently modified their holdings of the business. CIBC Asset Management Inc raised its stake in shares of WaFd by 4.8% during the 4th quarter. CIBC Asset Management Inc now owns 7,424 shares of the bank’s stock worth $239,000 after acquiring an additional 338 shares in the last quarter. Cooper Financial Group raised its holdings in shares of WaFd by 3.2% during the fourth quarter. Cooper Financial Group now owns 11,134 shares of the bank’s stock worth $359,000 after purchasing an additional 345 shares during the last quarter. Harbour Investments Inc. lifted its holdings in shares of WaFd by 29.6% in the 4th quarter. Harbour Investments Inc. now owns 1,752 shares of the bank’s stock valued at $56,000 after buying an additional 400 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in WaFd by 0.4% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 98,124 shares of the bank’s stock worth $3,162,000 after purchasing an additional 433 shares in the last quarter. Finally, Summit Investment Advisors Inc. grew its position in WaFd by 6.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,987 shares of the bank’s stock valued at $225,000 after buying an additional 450 shares during the period. 83.71% of the stock is currently owned by institutional investors.

WaFd Company Profile

WaFd, Inc operates as the bank holding company for Washington Federal Bank that provides lending, depository, insurance, and other banking services in the United States. The company offers deposit products, including business and personal checking accounts, and term certificates of deposit, as well as money market accounts and passbook savings accounts.