WaFd (NASDAQ:WAFD) Hits New 1-Year Low - Here's What Happened

WaFd, Inc (NASDAQ:WAFD - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Friday . The stock 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 Analysts Forecast Growth

WAFD has been the subject of a number of research reports. Stephens reaffirmed an "equal weight" rating and issued a $38.00 target price on shares of WaFd in a report on Friday, January 17th. Keefe, Bruyette & Woods reduced their price objective on WaFd from $42.00 to $34.00 and set a "market perform" rating for the company in a research note on Tuesday, January 21st. DA Davidson downgraded 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. StockNews.com lowered WaFd from a "hold" rating to a "sell" rating in a report on Friday. Finally, Piper Sandler decreased their price target on WaFd from $37.00 to $31.00 and set a "neutral" rating for the company in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat, WaFd currently has an average rating of "Hold" and a consensus price target of $33.75.

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WaFd Price Performance

The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.05. The stock has a fifty day simple moving average of $28.77 and a two-hundred day simple moving average of $32.26. The company has a market cap of $2.02 billion, a PE ratio of 11.42 and a beta of 0.79.

WaFd Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were paid a $0.27 dividend. The ex-dividend date was Friday, February 21st. This is an increase from WaFd's previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.36%. WaFd's payout ratio is 49.77%.

Institutional Investors Weigh In On WaFd

A number of hedge funds and other institutional investors have recently bought and sold shares of WAFD. CIBC Asset Management Inc increased its holdings in shares of WaFd by 4.8% in the 4th quarter. CIBC Asset Management Inc now owns 7,424 shares of the bank's stock valued at $239,000 after purchasing an additional 338 shares in the last quarter. Cooper Financial Group increased its holdings in WaFd by 3.2% in the fourth quarter. Cooper Financial Group now owns 11,134 shares of the bank's stock valued at $359,000 after buying an additional 345 shares in the last quarter. Harbour Investments Inc. lifted its position in shares of WaFd by 29.6% during the 4th quarter. Harbour Investments Inc. now owns 1,752 shares of the bank's stock valued at $56,000 after acquiring an additional 400 shares during the period. CANADA LIFE ASSURANCE Co boosted its stake in shares of WaFd by 0.4% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 98,124 shares of the bank's stock worth $3,162,000 after acquiring an additional 433 shares in the last quarter. Finally, Summit Investment Advisors Inc. grew its holdings in shares of WaFd by 6.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,987 shares of the bank's stock worth $225,000 after acquiring an additional 450 shares during the period. Institutional investors and hedge funds 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.