Washington Federal (WAFD) Lowered to Sell at BidaskClub

Washington Federal (NASDAQ:WAFD) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

Other research analysts have also issued research reports about the stock. ValuEngine raised shares of Washington Federal from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Zacks Investment Research cut shares of Washington Federal from a “buy” rating to a “hold” rating in a research report on Monday, September 18th. Royal Bank of Canada reissued a “hold” rating and set a $35.00 price target on shares of Washington Federal in a research report on Friday, September 8th. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $34.00 price target on shares of Washington Federal in a research report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Washington Federal currently has a consensus rating of “Hold” and an average target price of $36.00.

Washington Federal (NASDAQ WAFD) opened at $34.40 on Friday. 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 firm has a market cap of $2,985.61, a PE ratio of 17.73, a price-to-earnings-growth ratio of 1.66 and a beta of 1.15. Washington Federal has a 12 month low of $29.80 and a 12 month high of $35.90.

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

Institutional investors and hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Washington Federal by 7.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,117 shares of the bank’s stock worth $137,000 after purchasing an additional 301 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Washington Federal by 1.1% during the second quarter. Public Employees Retirement System of Ohio now owns 5,522 shares of the bank’s stock worth $183,000 after purchasing an additional 62 shares in the last quarter. Adviser Investments LLC acquired a new stake in shares of Washington Federal during the third quarter worth about $222,000. Raymond James Financial Services Advisors Inc. lifted its position in shares of Washington Federal by 1.9% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 6,641 shares of the bank’s stock worth $220,000 after purchasing an additional 127 shares in the last quarter. Finally, Shelton Capital Management acquired a new stake in shares of Washington Federal during the second quarter worth about $225,000. 83.23% of the stock is currently owned by institutional investors and hedge funds.

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About Washington Federal

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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