WaFd (NASDAQ:WAFD) Downgraded by DA Davidson to “Neutral”

DA Davidson cut shares of WaFd (NASDAQ:WAFD) from a buy rating to a neutral rating in a research note published on Thursday morning, Marketbeat reports. The brokerage currently has $32.00 target price on the bank’s stock, down from their prior target price of $35.00.

Several other brokerages also recently commented on WAFD. Piper Sandler lowered their target price on shares of WaFd from $37.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, January 21st. Stephens reiterated an “equal weight” rating and issued a $38.00 price objective on shares of WaFd in a research note on Friday, January 17th. StockNews.com upgraded WaFd from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Keefe, Bruyette & Woods decreased 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. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $33.75.

WaFd Trading Up 0.5 %

Shares of WaFd stock opened at $30.67 on Thursday. The company has a market capitalization of $2.50 billion, a P/E ratio of 14.13 and a beta of 0.85. The stock has a fifty day simple moving average of $32.54 and a 200 day simple moving average of $34.31. 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were paid a dividend of $0.26 per share. The ex-dividend date was Friday, November 22nd. This represents a $1.04 annualized dividend and a dividend yield of 3.39%. WaFd’s payout ratio is currently 47.93%.

Hedge Funds Weigh In On WaFd

Several institutional investors have recently bought and sold shares of WAFD. State Street Corp raised its stake in shares of WaFd by 5.2% in the third quarter. State Street Corp now owns 3,969,790 shares of the bank’s stock valued at $138,347,000 after buying an additional 195,845 shares during the period. Geode Capital Management LLC increased its holdings in WaFd by 10.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,759,135 shares of the bank’s stock worth $61,318,000 after acquiring an additional 159,750 shares during the last quarter. Systematic Financial Management LP raised its stake in WaFd by 21.5% in the 3rd quarter. Systematic Financial Management LP now owns 1,432,523 shares of the bank’s stock valued at $49,923,000 after acquiring an additional 253,044 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in WaFd by 7.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,225,248 shares of the bank’s stock valued at $42,700,000 after purchasing an additional 84,155 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in WaFd by 4.1% during the fourth quarter. Bank of New York Mellon Corp now owns 736,564 shares of the bank’s stock worth $23,747,000 after purchasing an additional 28,849 shares during the period. Hedge funds and other institutional investors own 83.71% of the company’s stock.

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.