Meeder Asset Management Inc. Reduces Stake in WaFd, Inc (NASDAQ:WAFD)

Meeder Asset Management Inc. has reported a significant reduction in its holdings of WaFd, Inc (NASDAQ: WAFD - Free Report). During the fourth quarter, Meeder decreased its stake by 68.8%. According to their latest filing with the SEC, Meeder's ownership now stands at 12,643 shares after selling 27,923 shares.

As of the latest report, Meeder's investments in WaFd are valued at approximately $408,000. This move reflects a strategic repositioning within their investment portfolio.

In addition to Meeder Asset Management, various other hedge funds have recently adjusted their positions in WaFd. For instance, Vanguard Group Inc. increased its holdings by 1.8% during the same fourth quarter. After buying 166,931 additional shares, Vanguard now possesses a total of 9,420,004 shares, valued at around $303,701,000.

State Street Corp also raised its position by 5.2% in the third quarter, bringing its total to 3,969,790 shares, worth $138,347,000 after acquiring 195,845 shares. Similarly, American Century Companies Inc. enhanced its stake by 15.3% during the fourth quarter and now owns 1,774,081 shares valued at $57,196,000 after purchasing 234,977 shares.

Geode Capital Management LLC increased its stake by 10.0% in the previous quarter, now owning 1,759,135 shares valued at $61,318,000 after a buy of 159,750 shares. Another notable change came from Systematic Financial Management LP, which increased its position by 21.5% in the third quarter, now holding 1,432,523 shares worth $49,923,000 following the acquisition of 253,044 shares. Overall, institutional investors and hedge funds now collectively own 83.71% of WaFd's shares.

Recent Analyst Ratings

Recently, several equity research analysts have provided updates on WaFd’s stock. Piper Sandler has reduced its target price from $37.00 to $31.00 and assigned a "neutral" rating. In contrast, Stephens reaffirmed an "equal weight" rating with a price objective of $38.00. Meanwhile, DA Davidson has downgraded WaFd from a "buy" rating to a "neutral" rating, cutting its target from $35.00 to $32.00.

StockNews.com upgraded WaFd from a "sell" to a "hold" rating in a recent report, while Keefe, Bruyette & Woods adjusted their price target from $42.00 to $34.00 and designated a "market perform" rating. Currently, five analysts have given WaFd a "hold" rating, and according to MarketBeat.com, the firm has an average consensus rating of "Hold" with a target price of $33.75.

WaFd's Market Performance

On Tuesday, shares of NASDAQ: WAFD opened at $28.58. The company's 50-day moving average is $29.25, while the two-hundred day moving average is $32.72. WaFd has a market capitalization of $2.33 billion, a PE ratio of 13.17, and a beta of 0.83. Its stock has seen a 12-month low of $25.79 and a high of $38.62, with a debt-to-equity ratio of 1.05. Both the current ratio and quick ratio are at 1.04, indicating a solid short-term financial health.

Dividend Announcement

WaFd recently declared its quarterly dividend, which was paid on March 7th. Shareholders of record on February 21st received a dividend of $0.27 per share, slightly up from the previous quarterly dividend of $0.26. This annualizes to a total dividend of $1.08, representing a yield of 3.78%. The dividend payout ratio (DPR) currently stands at 49.77%, showing the firm’s commitment to returning capital to its shareholders.

Overview of WaFd, Inc

WaFd, Inc operates as the bank holding company for Washington Federal Bank. The company offers various banking services in the United States, including lending, deposit products, insurance, and more. Their product offerings include business and personal checking accounts, certificates of deposit, money market accounts, and savings accounts.

Additional Considerations

Investors looking for insights on potential stocks to buy or alternative investment strategies may find resources to assist them in navigating the market fluctuations and making informed decisions.

Investment, Stocks, Hedge