WaFd, Inc Expected to Earn Q3 2024 Earnings of $0.60 Per Share (NASDAQ:WAFD)

WaFd, Inc (NASDAQ:WAFD) – DA Davidson issued their Q3 2024 earnings estimates for shares of WaFd in a research report issued to clients and investors on Thursday, June 27th. DA Davidson analyst J. Rulis expects that the bank will post earnings of $0.60 per share for the quarter. DA Davidson has a “Buy” rating and a $35.00 price objective on the stock. The consensus estimate for WaFd’s current full-year earnings is $2.77 per share.

WAFD has been the subject of a number of other reports. Stephens reiterated an “equal weight” rating and set a $32.00 price target on shares of WaFd in a research report on Tuesday, April 23rd. StockNews.com cut shares of WaFd from a “hold” rating to a “sell” rating in a research report on Thursday, March 21st. Finally, Piper Sandler lifted their price objective on shares of WaFd from $29.00 to $31.00 and gave the company a “neutral” rating in a report on Monday, May 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $33.25.

WaFd Stock Performance

Shares of WaFd stock opened at $28.20 on Monday. The firm has a market cap of $2.30 billion, a PE ratio of 10.72 and a beta of 0.83. The company has a quick ratio of 1.03, a current ratio of 1.17 and a debt-to-equity ratio of 2.07. WaFd has a 52 week low of $23.36 and a 52 week high of $34.07. The business’s fifty day simple moving average is $27.73 and its 200-day simple moving average is $28.64.

WaFd (NASDAQ:WAFD) last released its quarterly earnings data on Monday, April 22nd. The bank reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.42. The firm had revenue of $171.99 million for the quarter, compared to analysts’ expectations of $170.74 million. WaFd had a return on equity of 10.02% and a net margin of 15.33%. The firm’s quarterly revenue was down 7.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.95 earnings per share.

Hedge Funds Weigh In On WaFd

Several hedge funds have recently added to or reduced their stakes in the stock. Foundry Partners LLC purchased a new position in shares of WaFd in the 4th quarter valued at $4,035,000. Charles Schwab Investment Management Inc. increased its position in shares of WaFd by 7.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,030,035 shares of the bank’s stock worth $33,950,000 after purchasing an additional 73,345 shares in the last quarter. Natixis Advisors L.P. lifted its holdings in shares of WaFd by 17.3% in the 4th quarter. Natixis Advisors L.P. now owns 14,732 shares of the bank’s stock valued at $485,000 after purchasing an additional 2,177 shares during the last quarter. FMR LLC boosted its position in shares of WaFd by 2.0% in the 3rd quarter. FMR LLC now owns 120,314 shares of the bank’s stock valued at $3,082,000 after purchasing an additional 2,304 shares during the period. Finally, Louisiana State Employees Retirement System purchased a new position in WaFd during the 4th quarter worth approximately $1,068,000. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

WaFd Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 24th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend was Thursday, May 23rd. WaFd’s payout ratio is 39.54%.

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.