Washington Federal jumps as D.A. Davidson raises PT

WaFd

17/10/2022 15:56

** Shares of lender Washington Federal Inc  WAFD.O  up
nearly ~4% at $36.41, touching its highest since February, as
D.A. Davidson raises PT 
    ** Raises PT to $43 from $38 on expectations of higher net
interest margin and loan growth; maintains "buy" rating   
    ** New PT implies an upside of ~18% to current stock price,
while previous PT was ~4% higher
    ** Brokerage also expects higher expenses for the bank
    ** Updates FY23 EPS estimate to $4.35 from $3.60 and FY24
EPS estimate to $4.20 from $3.70
    ** Co reported September-quarter earnings last week, beating
both profit and revenue estimates  urn:newsml:reuters.com:*:nL8N31E69L
    ** Stock has risen ~9% YTD, including session moves 
 (Reporting by Anirban Chakroborti in Bengaluru)
 ((Anirban.Chakroborti@thomsonreuters.com;))