Piper Sandler Cuts WaFd (NASDAQ:WAFD) Price Target to $31.00

WaFd (NASDAQ:WAFD) had its target price decreased by equities researchers at Piper Sandler from $37.00 to $31.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the bank’s stock. Piper Sandler’s price target points to a potential upside of 3.80% from the stock’s previous close.

WAFD has been the topic of several other research reports. Keefe, Bruyette & Woods reduced their price target 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. DA Davidson raised their target price on shares of WaFd from $39.00 to $41.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Stephens reiterated an “equal weight” rating and issued a $38.00 price target on shares of WaFd in a report on Friday. Finally, StockNews.com raised WaFd from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $36.00.

WaFd Price Performance

WAFD traded down $0.39 during trading on Tuesday, hitting $29.87. 237,807 shares of the company traded hands, compared to its average volume of 636,163. The company has a market cap of $2.43 billion, a PE ratio of 13.76 and a beta of 0.87. WaFd has a 1 year low of $25.78 and a 1 year high of $38.62. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.21. The stock’s 50-day simple moving average is $34.23 and its two-hundred day simple moving average is $34.43.

Insider Buying and Selling

In other WaFd news, EVP Ryan Mauer sold 12,132 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $33.33, for a total transaction of $404,359.56. Following the completion of the sale, the executive vice president now directly owns 100,376 shares of the company’s stock, valued at approximately $3,345,532.08. This represents a 10.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.46% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of WAFD. Assenagon Asset Management S.A. acquired a new position in WaFd during the 3rd quarter valued at about $18,583,000. Systematic Financial Management LP grew its stake in shares of WaFd by 21.5% during the third quarter. Systematic Financial Management LP now owns 1,432,523 shares of the bank’s stock worth $49,923,000 after acquiring an additional 253,044 shares during the last quarter. State Street Corp increased its holdings in shares of WaFd by 5.2% during the third quarter. State Street Corp now owns 3,969,790 shares of the bank’s stock valued at $138,347,000 after acquiring an additional 195,845 shares in the last quarter. Geode Capital Management LLC raised its position in shares of WaFd by 10.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,759,135 shares of the bank’s stock valued at $61,318,000 after purchasing an additional 159,750 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in WaFd by 28.6% in the 3rd quarter. Principal Financial Group Inc. now owns 428,504 shares of the bank’s stock worth $14,933,000 after purchasing an additional 95,251 shares in the last quarter. Institutional investors 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.