Piper Sandler Cuts WaFd (NASDAQ:WAFD) Price Target to $31.00

WaFd (NASDAQ:WAFD) had its price objective decreased by Piper Sandler from $37.00 to $31.00 in a research report sent to investors on Tuesday,Benzinga reports. Piper Sandler currently has a neutral rating on the bank’s stock.

Other equities research analysts also recently issued research reports about the company. Keefe, Bruyette & Woods lowered their price objective on WaFd from $42.00 to $34.00 and set a “market perform” rating on the stock in a research report on Tuesday. DA Davidson boosted their price objective on WaFd from $39.00 to $41.00 and gave the stock a “buy” rating in a report on Monday, October 21st. StockNews.com raised shares of WaFd from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Stephens reissued an “equal weight” rating and issued a $38.00 price target on shares of WaFd in a research note on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, WaFd has an average rating of “Hold” and an average price target of $36.00.

WaFd Price Performance

WAFD stock opened at $29.43 on Tuesday. The firm has a 50 day moving average of $33.92 and a 200-day moving average of $34.41. The firm has a market capitalization of $2.39 billion, a P/E ratio of 13.56 and a beta of 0.87. WaFd has a 12 month low of $25.78 and a 12 month high of $38.62. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.21.

WaFd Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date was Friday, November 22nd. WaFd’s payout ratio is currently 47.93%.

Insiders Place Their Bets

In other news, EVP Ryan Mauer sold 12,132 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $33.33, for a total transaction of $404,359.56. Following the transaction, the executive vice president now directly owns 100,376 shares of the company’s stock, valued at approximately $3,345,532.08. This trade represents a 10.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.46% of the company’s stock.

Institutional Investors Weigh In On WaFd

Several institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. lifted its position in WaFd by 80.8% in the third quarter. Blue Trust Inc. now owns 1,188 shares of the bank’s stock valued at $41,000 after purchasing an additional 531 shares during the last quarter. McIlrath & Eck LLC boosted its position in WaFd by 112.7% during the 3rd quarter. McIlrath & Eck LLC now owns 1,323 shares of the bank’s stock valued at $46,000 after buying an additional 701 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of WaFd by 100.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,644 shares of the bank’s stock valued at $47,000 after acquiring an additional 822 shares during the period. GAMMA Investing LLC raised its stake in shares of WaFd by 515.8% during the third quarter. GAMMA Investing LLC now owns 1,558 shares of the bank’s stock valued at $54,000 after acquiring an additional 1,305 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in shares of WaFd by 60.1% during the third quarter. Covestor Ltd now owns 1,904 shares of the bank’s stock worth $66,000 after purchasing an additional 715 shares during the period. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

About WaFd

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.