Bank of New York Mellon Corp decreased its stake in shares of Washington Federal, Inc. (NASDAQ:WAFD) by 0.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,215,008 shares of the bank’s stock after selling 11,339 shares during the period. Bank of New York Mellon Corp owned approximately 1.39% of Washington Federal worth $40,884,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Rhumbline Advisers lifted its position in Washington Federal by 19.3% during the 3rd quarter. Rhumbline Advisers now owns 236,635 shares of the bank’s stock valued at $7,963,000 after acquiring an additional 38,273 shares during the period. Alps Advisors Inc. purchased a new position in Washington Federal in the third quarter worth about $360,000. Principal Financial Group Inc. raised its holdings in Washington Federal by 3.1% in the third quarter. Principal Financial Group Inc. now owns 973,517 shares of the bank’s stock worth $32,759,000 after buying an additional 29,294 shares during the last quarter. Boston Partners raised its holdings in Washington Federal by 4.7% in the third quarter. Boston Partners now owns 863,314 shares of the bank’s stock worth $29,050,000 after buying an additional 38,999 shares during the last quarter. Finally, Frontier Capital Management Co. LLC raised its holdings in Washington Federal by 2.2% in the third quarter. Frontier Capital Management Co. LLC now owns 1,958,375 shares of the bank’s stock worth $65,899,000 after buying an additional 41,724 shares during the last quarter. 83.23% of the stock is currently owned by hedge funds and other institutional investors.
Washington Federal, Inc. (NASDAQ WAFD) traded down $0.30 during mid-day trading on Friday, hitting $34.25. 330,864 shares of the stock traded hands, compared to its average volume of 425,901. The stock has a market capitalization of $2,970.00, a P/E ratio of 17.56, a PEG ratio of 1.67 and a beta of 1.14. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.02 and a quick ratio of 1.02. Washington Federal, Inc. has a 1 year low of $29.80 and a 1 year high of $35.90.
A number of analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Washington Federal from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Monday, October 23rd. Royal Bank of Canada restated a “hold” rating and set a $36.00 target price on shares of Washington Federal in a research report on Friday, October 20th. ValuEngine lowered shares of Washington Federal from a “buy” rating to a “hold” rating in a research report on Saturday, November 25th. Finally, Piper Jaffray Companies restated a “hold” rating and set a $34.00 target price on shares of Washington Federal in a research report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $36.00.
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About Washington Federal
Washington Federal, Inc is a bank holding company. The Company conducts its operations through a federally insured national bank subsidiary, Washington Federal, National Association (the Bank). The business of the Bank consists primarily of accepting deposits from the general public and investing these funds in loans of various types, including first lien mortgages on single-family dwellings, construction loans, land acquisition and development loans, loans on multi-family, commercial real estate and other income producing properties, home equity loans and business loans.
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