Regional bank Washington Federal's Q1 EPS rises

Overview

• U.S. bank's fiscal Q1 EPS rose 46% yr/yr, driven by steady margin and lower expenses

• Company repurchased 1.95 mln shares at average price of $29.75 per share

• Fiscal Q1 net interest income increased to $171 mln

Outlook

• Company expects stronger loan production in coming months

Result Drivers

• EARNINGS GROWTH - Driven by steady net interest margin, increased non-interest income, and lower expenses

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the banks peer group is "buy."

• Wall Street's median 12-month price target for WaFd Inc is $32.25, about 2.4% below its January 14 closing price of $33.04

• The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 10 three months ago

Press Release: ID:nBw3KbnF7a

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