Washington Federal (NASDAQ: WFSL)‘s stock had its “neutral” rating reiterated by Zacks Investment Research in a note issued to investors on Friday. They currently have a $16.00 price target on the stock.
Zacks’ analyst wrote, “Washington Federal’s fiscal first-quarter 2011 earnings were slightly ahead of the Zacks Consensus Estimate. Though the results were impacted by higher non-interest expenses and lower top line, decline in credit costs as well as improvement in capital ratios and asset quality were the positives. Though the company is enjoying the benefits of lower interest rates, the expected upward trend of interest rates will ruin its deposit re-pricing effort in the mid to long term. We also remain concerned about the company’s considerable exposure to real estate markets where values remain soft. However, interest income expansion and non-performing asset contraction will significantly support the bottom line. Moreover, continued capital deployment activities are expected to keep investors’ confidence in the stock undamaged. “
Separately, analysts at RBC Capital (NYSE: RY) raised their price target on shares of Washington Federal from $15.00 to $17.00 in a research note to investors on Thursday. They now have a “sector perform” rating on the stock. Analysts at Sandler O’Neill downgraded shares of Washington Federal from a “buy” rating to a “hold” rating in a research note to investors on Thursday. Also, analysts at Sterne Agee reiterated a “buy” rating on shares of Washington Federal in a research note to investors on Monday, December 19th. They now have a $17.00 price target on the stock.
Washington Federal, Inc. (Washington Federal) is a non-diversified unitary savings and loan holding company that conducts its operations through a federally insured savings and loan association subsidiary, Washington Federal Savings (the Bank). The business of Washington Federal consists primarily of attracting 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 and other income producing properties, home equity loans and business loans. It also invests in certain United States government and agency obligations and other investments. Washington Federal has 160 full service branches located in Washington, Oregon, Idaho, Arizona, Utah, Nevada, New Mexico and Texas. Through its subsidiaries, the Company is engaged in real estate investment and insurance brokerage activities.
Shares of Washington Federal traded down 0.56% during mid-day trading on Friday, hitting $15.145. Washington Federal has a 52 week low of $12.15 and a 52 week high of $18.53. The stock’s 50-day moving average is $13.67 and its 200-day moving average is $14.40. The company has a market cap of $1.630 billion and a price-to-earnings ratio of 15.23.