Washington Federal Inc. (NASDAQ:WAFD) a Hold: D.A. Davidson

In a research note issued to investors, Jeff Rulis at D.A. Davidson Downgraded Washington Federal Inc. (NASDAQ:WAFD) to a Hold. The analyst placed a $24.00 price target on the stock which indicates a 9.34% upside to the last closing price. In the year following Rulis’s ratings, the stocks covered yield an average return of 1032% according to TipRanks.com. In the past year 17 out of 21 recommendations or 81% were successful.

In looking at the consensus numbers, the sell-side analysts covering the stock have a mean target price of $22.3 for Washington Federal, Inc. (NASDAQ:WAFD). This number is the mean estimate from the 5 research brokerages that recently issued reports on the firm.

According to Wall Street, Washington Federal, Inc. (NASDAQ:WAFD) is expected to report earnings per share for the current fiscal quarter of $0.38. This is the consensus mean estimate based on the individual covering sell-side analysts’ reported numbers. The company last reported earnings for the period ending on 2014-12-31 of $0.39.

The average recommendation is the arithmetical average of the individual analyst ratings contributed by sell-side research to produce a Consensus Analyst Rating for each stock. On a scale of 1 to 5 where 1 represents a Strong Buy and 5 represents a Strong Sell, has the equity is ranked 2.67 based on 5 broker recommendations. Of the 5 analyst estimates, the most bullish sees the stock reaching $24 within the next 12 months while the most bearish analyst sees the stock at $21 within the year.

Taking a look at the long term growth prospects of the company, sell-side analysts have a consensus mean earnings per share estimate for the current year of $1.53. The high end estimate for this time frame is $1.58 with the low being $1.47. In looking at the next three to five years, the long term earnings per share estimate growth rate for the company is 10%, based on 1 analysts providing projections.

Washington Federal, Inc. (Washington Federal) is a bank holding company. The Company’s principal subsidiary is Washington Federal, National Association (Bank), which operates 182 offices in eight western states. It obtains funds primarily through deposits from the general public, repayments of loans, borrowings and retained earnings. These funds are used to make loans to individuals and businesses, including loans for the purchase of new and existing homes, construction and land loans, and commercial real estate loans, commercial and industrial loans. On July 18, 2013, the Bank entered into a series of related Purchase and Assumption Agreements for the acquisition of deposits from Bank of America, National Association. These acquisitions represent a total of 51 branches located in Eastern Washington, Idaho, Oregon and New Mexico. On November 2, 2013, the Company acquired the New Mexico branches.