Washington Federal Inc. (NASDAQ:WAFD) Increases Dividend to $0.21 Per Share

Washington Federal Inc. (NASDAQ:WAFD) announced a quarterly dividend on Monday, July 22nd, NASDAQ reports. Stockholders of record on Friday, August 9th will be given a dividend of 0.21 per share by the bank on Friday, August 23rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Thursday, August 8th. This is a positive change from Washington Federal’s previous quarterly dividend of $0.20.

Washington Federal has increased its dividend by an average of 10.4% annually over the last three years and has raised its dividend annually for the last 5 consecutive years. Washington Federal has a dividend payout ratio of 35.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Washington Federal to earn $2.71 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 31.0%.

WAFD opened at $34.88 on Wednesday. The firm has a market capitalization of $2.80 billion, a PE ratio of 13.74, a P/E/G ratio of 1.94 and a beta of 1.14. Washington Federal has a one year low of $24.67 and a one year high of $37.25. The business’s 50-day moving average price is $34.91. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.03 and a quick ratio of 1.03.

Washington Federal (NASDAQ:WAFD) last issued its quarterly earnings results on Tuesday, July 16th. The bank reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.03. The firm had revenue of $135.71 million for the quarter, compared to analysts’ expectations of $134.17 million. Washington Federal had a return on equity of 10.47% and a net margin of 29.19%. As a group, equities research analysts forecast that Washington Federal will post 2.61 earnings per share for the current fiscal year.

WAFD has been the topic of several recent research reports. Piper Jaffray Companies set a $34.00 price target on Washington Federal and gave the company a “hold” rating in a research report on Monday, July 8th. ValuEngine upgraded Washington Federal from a “sell” rating to a “hold” rating in a research report on Tuesday, April 16th. Finally, BidaskClub upgraded Washington Federal from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 2nd. Three equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. Washington Federal presently has an average rating of “Buy” and a consensus price target of $35.50.

About Washington Federal

Washington Federal, Inc operates as the bank holding company for Washington Federal, National Association that provides lending, depository, insurance, and other banking services in the United States. The company accepts deposit products, including business and personal checking accounts, and term certificates of deposit, as well as money market accounts and passbook savings accounts.

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Dividend History for Washington Federal (NASDAQ:WAFD)

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