Washington Federal Inc.
) crafted a new 52-week high, touching $24.15 in the second half
of the trading session on Jan 10. The closing price of this
savings and loans institute represents a solid full-year return
of 43.5%. The trading volume for the session was around 503,236
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WASH FEDL INC (WAFD): Free Stock Analysis
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Despite hitting its 52-week high, this Zacks Rank #3 (Hold) stock
has plenty of upside left, given its strong estimate revisions
over the last 60 days and expected long-term earnings growth of
The recent acquisition of 51 retail branches of
Bank of America Corp.
), strong capital deployment activities and impressive fiscal
fourth-quarter 2013 (ended Sep 30) results were the primary
growth drivers for Washington Federal.
In Dec 2013, Washington Federal completed the acquisition of 51
retail branches of Bank of America located in Eastern Washington,
Idaho, Oregon and New Mexico for $39 million. The deal assumed
total deposits and total loans of about $1.5 billion and around
$11 million, respectively.
On Oct 14, Washington Federal reported fourth-quarter 2013 (ended
Sep 30) earnings of $1.34 per share, outpacing the Zacks
Consensus Estimate by 13.9%. A year-over-year increase of 5.2% in
net interest income along with improvement in profitability
ratios and credit quality translated into better-than-expected
Further, Washington Federal continued with its efficient capital
deployment activities. During fiscal 2013, the company returned
98% of net income to shareholders in the form of cash dividends
and share repurchases.
Estimate Revisions Show Potency
Over the last 60 days, the Zacks Consensus Estimate for fiscal
2014 advanced nearly 2% to $1.59 per share, while for fiscal 2015
it moved north 1.2% to $1.67 per share.
Other savings and loans institutes worth considering include
Great Southern Bancorp Inc.
Teche Holding Co.
) with a Zacks Rank #1 (Strong Buy).