BidaskClub Downgrades Washington Federal (NASDAQ:WAFD) to Strong Sell

Washington Federal (NASDAQ:WAFD) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Tuesday, BidAskClub reports.

Separately, ValuEngine cut shares of Washington Federal from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $34.00.

WAFD traded up $0.37 on Tuesday, reaching $36.08. The company had a trading volume of 10,833 shares, compared to its average volume of 319,449. The business has a 50 day simple moving average of $36.66 and a 200 day simple moving average of $36.18. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 13.79 and a beta of 1.10. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.02 and a current ratio of 1.02. Washington Federal has a 52-week low of $27.82 and a 52-week high of $38.26.

Washington Federal (NASDAQ:WAFD) last released its quarterly earnings results on Tuesday, October 15th. The bank reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.01. Washington Federal had a net margin of 29.22% and a return on equity of 10.05%. The business had revenue of $136.63 million during the quarter, compared to analysts’ expectations of $136.20 million. During the same quarter in the previous year, the company earned $0.62 EPS. As a group, equities research analysts predict that Washington Federal will post 2.46 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in WAFD. Perkins Coie Trust Co purchased a new stake in shares of Washington Federal in the 3rd quarter valued at $143,000. Atria Investments LLC bought a new stake in Washington Federal during the 2nd quarter valued at $144,000. Meeder Asset Management Inc. bought a new stake in Washington Federal during the 3rd quarter valued at $147,000. Cetera Advisor Networks LLC bought a new stake in Washington Federal during the 3rd quarter valued at $201,000. Finally, Keybank National Association OH bought a new stake in Washington Federal during the 3rd quarter valued at $223,000. 85.27% of the stock is owned by institutional investors and hedge funds.

About Washington Federal

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

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