The stock of Washington Federal Inc. (NASDAQ:WAFD) hit a new 52-week high and has $47.90 target or 49.00% above today’s $32.15 share price. The 8 months bullish chart indicates low risk for the $2.93 billion company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $47.90 price target is reached, the company will be worth $1.44 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 308,284 shares traded hands. Washington Federal Inc. (NASDAQ:WAFD) has risen 30.58% since April 19, 2016 and is uptrending. It has outperformed by 26.72% the S&P500.
According to Zacks Investment Research, “Washington Federal, Inc. is a non-diversified unitary savings and loan holding company. The business of Washington Federal consists primarily of attracting savings deposits from the general public and investing these funds in loans secured by first mortgage liens on single-family dwellings, including loans for the construction of such dwellings, and to a significantly lesser extent, on commercial property and multi-family dwellings. It also originates other types of loans for its portfolio and invests in certain United States Government and agency obligations.”
Insitutional Activity: The institutional sentiment increased to 0.99 in Q2 2016. Its up 0.12, from 0.87 in 2016Q1. The ratio increased, as 9 funds sold all Washington Federal Inc. shares owned while 76 reduced positions. 17 funds bought stakes while 57 increased positions. They now own 73.35 million shares or 4.73% less from 76.99 million shares in 2016Q1.
Coldstream Management Inc holds 67,856 shares or 0.29% of its portfolio. Price T Rowe Associate Incorporated Md holds 0% or 61,860 shares in its portfolio. Legal General Gp Incorporated Public Limited Co owns 75,731 shares or 0% of their US portfolio. Cutler Counsel Ltd reported 15,832 shares or 0.11% of all its holdings. Proshare Advsrs Lc accumulated 31,553 shares or 0.01% of the stock. Cantab Cap Prns Limited Liability Partnership holds 0% of its portfolio in Washington Federal Inc. (NASDAQ:WAFD) for 23,076 shares. Foundry Partners Lc has invested 0.7% of its portfolio in Washington Federal Inc. (NASDAQ:WAFD). Moreover, Panagora Asset Mngmt has 0.04% invested in Washington Federal Inc. (NASDAQ:WAFD) for 349,438 shares. Wellington Mgmt Gp Llp has 0% invested in the company for 16,484 shares. Nuveen Asset Mgmt Ltd reported 47,062 shares or 0.01% of all its holdings. The Illinois-based Ubs Asset Americas Inc has invested 0% in Washington Federal Inc. (NASDAQ:WAFD). Boston Limited Liability accumulated 297,310 shares or 0.18% of the stock. Victory Cap Mngmt, a Ohio-based fund reported 5,180 shares. Heartland Incorporated accumulated 0.51% or 371,497 shares. Alps has 0% invested in the company for 17,981 shares.
Insider Transactions: Since September 27, 2016, the stock had 1 insider buy, and 5 insider sales for $2.92 million net activity. The insider Schoonover Mark Alan sold $550,314. Lantz Erin N bought 41 shares worth $1,091. 50,000 shares were sold by WHITEHEAD ROY M, worth $1.48 million. 3,500 shares were sold by Cooper Cathy E, worth $104,705 on Thursday, November 10.
More news for Washington Federal Inc. (NASDAQ:WAFD) were recently published by: Reuters.com, which released: “BRIEF-Washington Federal Inc’s qtrly earnings per share $0.49” on October 19, 2016. Nasdaq.com‘s article titled: “Washington Federal Reaches Analyst Target Price” and published on November 04, 2016 is yet another important article.
WAFD Company Profile
Washington Federal, Inc. (Washington Federal), incorporated on November 15, 1994, is a bank holding company. The Firm conducts its activities through a federally-insured national bank subsidiary, Washington Federal, National Association (the Bank). The Company’s principal activities consists of taking deposits from the 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 and other income producing properties, home equity loans and business loans. It invests in certain United States government and agency obligations and other investments permitted by applicable laws and regulations. The Firm has approximately 250 branches located in Washington, Oregon, Idaho, Arizona, Utah, Nevada, New Mexico and Texas. The Company, through its subsidiaries, is engaged in real estate investment and insurance brokerage activities. The principal sources of funds for the Company’s activities are retained earnings, loan repayments (including prepayments), net deposit inflows, repayments and sales of investments and borrowings. Washington Federal’s principal sources of revenue are interest on loans and interest and dividends on investments. The Bank’s subsidiaries include WAFD Insurance Group, Inc., which is an insurance agency that offers a line of individual and business insurance policies to clients of the Company, as well as to the general public; Statewide Mortgage Services Company, which holds and markets real estate held for investment, and Washington Services, Inc., which holds certain branch properties and equipment, and also acts as a trustee under deeds of trust as to which the Bank is beneficiary.
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