Stock Buzzer: Could Washington Federal Inc. Change Direction After Touching 52-Week High?

Stock Buzzer: Could Washington Federal Inc. Change Direction After Touching 52 Week High?

The stock of Washington Federal Inc. (NASDAQ:WAFD) hit a new 52-week high and has $43.72 target or 57.00% above today’s $27.85 share price. The 8 months bullish chart indicates low risk for the $2.47B company. The 1-year high was reported on Nov, 7 by Barchart.com. If the $43.72 price target is reached, the company will be worth $1.41 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 126,802 shares traded hands. Washington Federal Inc. (NASDAQ:WAFD) has risen 22.80% since April 5, 2016 and is uptrending. It has outperformed by 20.84% 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 decreased to 0.87 in 2016 Q2. Its down 0.05, from 0.92 in 2016Q1. The ratio is negative, 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.
Cutler Investment Counsel Limited Liability Corp holds 15,832 shares or 0.11% of its portfolio. State Board Of Administration Of Florida Retirement Sys last reported 0.01% of its portfolio in the stock. Investec Asset Mngmt Limited holds 2.01 million shares or 0.25% of its portfolio. Blackrock Institutional Trust Na has 2.78M shares for 0.01% of their US portfolio. Stevens First Principles Inv holds 1,855 shares or 0.03% of its portfolio. Hennessy Advisors owns 382,500 shares or 0.28% of their US portfolio. Yorktown Mngmt Research has invested 0.08% of its portfolio in Washington Federal Inc. (NASDAQ:WAFD). Gsa Capital Partners Limited Liability Partnership reported 18,900 shares or 0.03% of all its holdings. Rhumbline Advisers holds 211,858 shares or 0.02% of its portfolio. Ameritas Inv Prtnrs has invested 0.03% of its portfolio in Washington Federal Inc. (NASDAQ:WAFD). Cap Fund Mgmt Sa accumulated 46,900 shares or 0.01% of the stock. Auxier Asset Mgmt last reported 23,939 shares in the company. Putnam Invests Limited Liability owns 237,936 shares or 0.01% of their US portfolio. Cetera Advisors Limited Liability owns 43,764 shares or 0.08% of their US portfolio. Zurcher Kantonalbank (Zurich Cantonalbank) has invested 0% of its portfolio in Washington Federal Inc. (NASDAQ:WAFD).

Insider Transactions: Since September 27, 2016, the stock had 1 buying transaction, and 2 selling transactions for $786,125 net activity. Lantz Erin N also bought $1,091 worth of Washington Federal Inc. (NASDAQ:WAFD) on Tuesday, September 27. 17,485 shares with value of $475,428 were sold by WHITEHEAD ROY M on Friday, November 4.

More important recent Washington Federal Inc. (NASDAQ:WAFD) news were published by: Nasdaq.com which released: “Washington Federal Reaches Analyst Target Price” on November 04, 2016, also Reuters.com published article titled: “BRIEF-Washington Federal Inc’s qtrly earnings per share $0.49”, Streetinsider.com published: “Form 4 WASHINGTON FEDERAL INC For: Nov 04 Filed by: WHITEHEAD ROY M” on November 05, 2016. More interesting news about Washington Federal Inc. (NASDAQ:WAFD) was released by: Globenewswire.com and their article: “Washington Federal Promotes Cathy Cooper to Manage the Retail Client Experience” with publication date: January 22, 2016.

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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