Washington Federal Inc. (NASDAQ:WAFD) announced a quarterly dividend on Tuesday, July 28th, Zacks reports. Shareholders of record on Friday, August 7th will be paid a dividend of 0.22 per share by the bank on Friday, August 21st. This represents a $0.88 annualized dividend and a yield of 3.91%. The ex-dividend date is Thursday, August 6th.
Washington Federal has raised its dividend payment by an average of 46.4% annually over the last three years and has raised its dividend annually for the last 6 consecutive years. Washington Federal has a payout ratio of 40.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Washington Federal to earn $1.74 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 50.6%.
Shares of WAFD stock traded down $1.02 during mid-day trading on Thursday, hitting $22.51. 13,091 shares of the stock were exchanged, compared to its average volume of 422,454. The firm has a fifty day moving average of $25.43 and a 200 day moving average of $28.11. The company has a quick ratio of 1.10, a current ratio of 1.05 and a debt-to-equity ratio of 1.41. Washington Federal has a 52-week low of $20.92 and a 52-week high of $38.26. The company has a market cap of $1.76 billion, a PE ratio of 9.60 and a beta of 0.98.
Washington Federal (NASDAQ:WAFD) last posted its earnings results on Wednesday, July 22nd. The bank reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.08. Washington Federal had a net margin of 25.93% and a return on equity of 8.46%. The business had revenue of $130.65 million for the quarter, compared to analyst estimates of $131.40 million. Equities analysts predict that Washington Federal will post 2.01 EPS for the current year.
In other Washington Federal news, CEO Brent J. Beardall bought 4,167 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were acquired at an average cost of $23.42 per share, with a total value of $97,591.14. Following the purchase, the chief executive officer now directly owns 264,579 shares of the company’s stock, valued at approximately $6,196,440.18. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Randall H. Talbot bought 5,300 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was acquired at an average cost of $23.16 per share, for a total transaction of $122,748.00. Following the completion of the purchase, the director now directly owns 39,743 shares in the company, valued at $920,447.88. The disclosure for this purchase can be found here. Company insiders own 1.21% of the company’s stock.
Several equities research analysts have recently issued reports on WAFD shares. Piper Sandler increased their target price on shares of Washington Federal from $25.00 to $25.50 and gave the stock a “neutral” rating in a research note on Monday. Zacks Investment Research raised shares of Washington Federal from a “sell” rating to a “hold” rating and set a $27.00 price target on the stock in a research note on Monday, July 6th. Finally, BidaskClub lowered shares of Washington Federal from a “sell” rating to a “strong sell” rating in a research note on Thursday. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $29.50.
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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