Washington Federal Inc. (WAFD) released its second quarter results on Wednesday, April 14, 2021. The company reported net earnings of $0.56 per share for the second quarter ending March 31, 2021. Earnings for this past quarter were up 13 percent compared to the same period a year ago.
Washington Federal, Inc. was founded in 1917 and is headquartered in Seattle, Washington. Washington Federal, Inc. operates as the bank holding company for Washington Federal Bank, National Association that provides lending, depository, insurance, and other banking services in the United States. The company accepts deposit products, including business and personal checking accounts, and term certificates of deposit, as well as money market accounts and passbook savings accounts.
Washington Federal's revenue decreased 14 percent over the past trailing twelve-month period versus the previous twelve-month period. Operating margins increased to 40.32% over the same period. Net earnings for past trailing twelve months were $150.29 million, down 28% from the prior year.
Moving on to the balance sheet, overall liquidity of the balance sheet, as measured by the current ratio, decreased 35.75% this past year. The current ratio for Washington Federal now stands at 0.21. The company decreased share outstanding by 3.46%.
Shares of WAFD are currently trading around $31.78. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 15.99 and price to book ratio of 1.18.
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This article was written by Value Investing News (https://www.valueinvestingnews.com) on Thursday, April 15, 2021.