WaFd (NASDAQ:WAFD) Hits New 12-Month Low – Here’s What Happened

Shares of WaFd, Inc (NASDAQ:WAFD) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $24.65 and last traded at $24.61, with a volume of 222159 shares traded. The stock had previously closed at $26.58.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. StockNews.com lowered WaFd from a “hold” rating to a “sell” rating in a report on Friday. DA Davidson cut shares of WaFd from a “buy” rating to a “neutral” rating and lowered their target price for the company from $35.00 to $32.00 in a research note on Thursday, February 6th. Keefe, Bruyette & Woods reduced their price target on shares of WaFd from $42.00 to $34.00 and set a “market perform” rating for the company in a research note on Tuesday, January 21st. Stephens reiterated an “equal weight” rating and set a $38.00 price objective on shares of WaFd in a research note on Friday, January 17th. Finally, Piper Sandler cut their target price on WaFd from $37.00 to $31.00 and set a “neutral” rating for the company in a research report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $33.75.

WaFd Price Performance

The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.04 and a current ratio of 1.04. The company’s 50 day moving average price is $29.06 and its 200-day moving average price is $32.49. The company has a market cap of $2.06 billion, a price-to-earnings ratio of 11.63 and a beta of 0.79.

WaFd Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were given a $0.27 dividend. This is a positive change from WaFd’s previous quarterly dividend of $0.26. The ex-dividend date was Friday, February 21st. This represents a $1.08 annualized dividend and a yield of 4.28%. WaFd’s payout ratio is 49.77%.

Institutional Investors Weigh In On WaFd

Large investors have recently modified their holdings of the stock. Aster Capital Management DIFC Ltd raised its position in shares of WaFd by 983.5% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,116 shares of the bank’s stock worth $36,000 after purchasing an additional 1,013 shares during the period. McIlrath & Eck LLC raised its holdings in WaFd by 112.7% during the 3rd quarter. McIlrath & Eck LLC now owns 1,323 shares of the bank’s stock worth $46,000 after buying an additional 701 shares during the period. Harbour Investments Inc. lifted its stake in WaFd by 29.6% during the fourth quarter. Harbour Investments Inc. now owns 1,752 shares of the bank’s stock valued at $56,000 after buying an additional 400 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of WaFd by 68.4% in the fourth quarter. Blue Trust Inc. now owns 2,000 shares of the bank’s stock worth $70,000 after buying an additional 812 shares during the period. Finally, US Bancorp DE increased its position in shares of WaFd by 136.7% in the fourth quarter. US Bancorp DE now owns 3,638 shares of the bank’s stock worth $117,000 after acquiring an additional 2,101 shares in the last quarter. 83.71% of the stock is owned by 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.