DA Davidson Raises Price Target on Washington Federal (WFSL) on Solid Q3 Earnings
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Price: $16.01 +0.25%
Rating Summary:
0 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
0 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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DA Davidson is reiterating its Neutral rating and is raising its price target from $17 to $18 on shares of Washington Federal (NASDAQ: WFSL) following its Q3 results.
The company reported its Q3 results with an EPS of $0.27, ahead of the the firms estimate of $0.20 and the Street's of $0.24. The firm notes that the upside was largely due to increased spread income, lower provisions, and a more aggressive buyback activity than previously expected.
Currently WFSL has over $2.5 billion in CDs repricing by calendar year end with a weighted average rate of 1.35 percent, which DA Davidson believes should lead to margin stability in the near term.
In Q3 the company experienced modest loan growth of $34.9 million.
The firm is raising its fiscal 2011 and 2012 EPS estimates from $0.87 and $1.10 to $1.00 and $1.30.
For more ratings news on Washington Federal click here and for the rating history of Washington Federal click here.
Shares of Washington Federal closed at $16.95 yesterday.
The company reported its Q3 results with an EPS of $0.27, ahead of the the firms estimate of $0.20 and the Street's of $0.24. The firm notes that the upside was largely due to increased spread income, lower provisions, and a more aggressive buyback activity than previously expected.
Currently WFSL has over $2.5 billion in CDs repricing by calendar year end with a weighted average rate of 1.35 percent, which DA Davidson believes should lead to margin stability in the near term.
In Q3 the company experienced modest loan growth of $34.9 million.
The firm is raising its fiscal 2011 and 2012 EPS estimates from $0.87 and $1.10 to $1.00 and $1.30.
For more ratings news on Washington Federal click here and for the rating history of Washington Federal click here.
Shares of Washington Federal closed at $16.95 yesterday.
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