WaFd (NASDAQ:WAFD) Cut to "Neutral" at DA Davidson

WaFd (NASDAQ:WAFD - Get Free Report) was downgraded by DA Davidson from a "buy" rating to a "neutral" rating in a report released on Thursday, Marketbeat Ratings reports. They currently have a $32.00 price target on the bank's stock, down from their prior price target of $35.00. DA Davidson's target price would indicate a potential upside of 6.38% from the stock's previous close.

Other research analysts have also issued research reports about the company. Piper Sandler reduced their target price on WaFd from $37.00 to $31.00 and set a "neutral" rating for the company in a report on Tuesday, January 21st. StockNews.com raised WaFd from a "sell" rating to a "hold" rating in a report on Tuesday, November 12th. Stephens reissued an "equal weight" rating and set a $38.00 price objective on shares of WaFd in a report on Friday, January 17th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of WaFd from $42.00 to $34.00 and set a "market perform" rating on the stock in a research note on Tuesday, January 21st. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $33.75.

WaFd Stock Performance

WAFD stock traded down $0.59 during mid-day trading on Thursday, hitting $30.08. The company had a trading volume of 443,752 shares, compared to its average volume of 569,967. WaFd has a 12 month low of $25.78 and a 12 month high of $38.62. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.08 and a current ratio of 1.04. The stock's fifty day moving average price is $32.28 and its two-hundred day moving average price is $34.25. The firm has a market cap of $2.45 billion, a PE ratio of 13.86 and a beta of 0.85.

Institutional Investors Weigh In On WaFd

Hedge funds have recently made changes to their positions in the business. Blue Trust Inc. lifted its stake in WaFd by 80.8% in the third quarter. Blue Trust Inc. now owns 1,188 shares of the bank's stock worth $41,000 after purchasing an additional 531 shares during the last quarter. McIlrath & Eck LLC lifted its stake in shares of WaFd by 112.7% in the 3rd quarter. McIlrath & Eck LLC now owns 1,323 shares of the bank's stock valued at $46,000 after acquiring an additional 701 shares during the last quarter. GAMMA Investing LLC boosted its holdings in WaFd by 515.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,558 shares of the bank's stock valued at $54,000 after acquiring an additional 1,305 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in WaFd by 100.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,644 shares of the bank's stock valued at $47,000 after acquiring an additional 822 shares during the period. Finally, Covestor Ltd increased its stake in WaFd by 60.1% in the 3rd quarter. Covestor Ltd now owns 1,904 shares of the bank's stock worth $66,000 after purchasing an additional 715 shares during the period. 83.71% of the stock is currently 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.