StockNews.com Downgrades WaFd (NASDAQ:WAFD) to Sell

WaFd (NASDAQ:WAFD) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report released on Tuesday.

Several other brokerages also recently issued reports on WAFD. Stephens reissued an “equal weight” rating and issued a $38.00 price objective on shares of WaFd in a research note on Friday, January 17th. DA Davidson downgraded shares of WaFd from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $35.00 to $32.00 in a research note on Thursday, February 6th. Piper Sandler decreased their price target on shares of WaFd from $37.00 to $31.00 and set a “neutral” rating for the company in a research note on Tuesday, January 21st. Finally, Keefe, Bruyette & Woods decreased 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. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $33.75.

WaFd Price Performance

Shares of NASDAQ WAFD traded up $0.43 during mid-day trading on Tuesday, hitting $29.81. 662,858 shares of the company’s stock traded hands, compared to its average volume of 523,638. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.04 and a quick ratio of 1.04. WaFd has a 1 year low of $25.78 and a 1 year high of $38.62. The company has a market capitalization of $2.43 billion, a P/E ratio of 13.74 and a beta of 0.85. The company’s 50-day moving average is $30.96 and its two-hundred day moving average is $33.90.

Hedge Funds Weigh In On WaFd

Institutional investors have recently bought and sold shares of the business. Aster Capital Management DIFC Ltd increased its holdings in WaFd by 983.5% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,116 shares of the bank’s stock valued at $36,000 after buying an additional 1,013 shares during the period. Blue Trust Inc. increased its holdings in WaFd by 80.8% during the third quarter. Blue Trust Inc. now owns 1,188 shares of the bank’s stock valued at $41,000 after buying an additional 531 shares during the period. McIlrath & Eck LLC increased its holdings in WaFd by 112.7% during the third 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. Harbour Investments Inc. increased its holdings 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 during the period. Finally, Covestor Ltd increased its holdings in WaFd by 60.1% during the third quarter. Covestor Ltd now owns 1,904 shares of the bank’s stock valued at $66,000 after buying an additional 715 shares during the period. 83.71% of the stock is owned by hedge funds and other institutional investors.

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.