Published On: Tue, Sep 13th, 2016

WashingtonFirst Bankshares Inc. (WFBI) Downgraded to “Hold” at Zacks Investment Research

WashingtonFirst Bankshares Inc. (NASDAQ:WFBI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “WashingtonFirst Bankshares, Inc. operates as a bank holding company. The Company’s banking subsidiary offers various deposit products, including business and personal checking accounts, NOW accounts, tiered savings and money market accounts, time deposit accounts, and individual retirement accounts. It also offers commercial loans, commercial real estate loans, commercial and residential real estate construction loans, residential mortgage loans, home equity loans, and consumer loans. The company provides cash management services, such as electronic banking, sweep accounts, lockbox and account reconciliation, merchant card depository, safe deposit boxes, and automated clearing house origination services, as well as after hour depository, ATMs, remote deposit capture, and courier services. WashingtonFirst Bankshares, Inc. is based in Reston, Virginia. “
Shares of WashingtonFirst Bankshares (NASDAQ:WFBI) traded down 0.24% during mid-day trading on Tuesday, hitting $24.91. The stock had a trading volume of 1,257 shares. WashingtonFirst Bankshares has a 12 month low of $17.70 and a 12 month high of $25.46. The firm has a market cap of $305.20 million, a PE ratio of 19.30 and a beta of 0.07. The stock’s 50-day moving average is $24.16 and its 200 day moving average is $22.37.

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WashingtonFirst Bankshares (NASDAQ:WFBI) last issued its earnings results on Thursday, July 21st. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. WashingtonFirst Bankshares had a net margin of 16.81% and a return on equity of 8.62%. Equities research analysts predict that WashingtonFirst Bankshares will post $1.37 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Monday, September 12th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.96%. WashingtonFirst Bankshares’s payout ratio is currently 18.46%.
In other news, Director Caren D. Merrick bought 4,065 shares of the stock in a transaction that occurred on Monday, August 22nd. The stock was purchased at an average price of $23.98 per share, for a total transaction of $97,478.70. Following the completion of the purchase, the director now owns 2,960 shares in the company, valued at approximately $70,980.80. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 22.86% of the company’s stock.
Several institutional investors have recently modified their holdings of WFBI. Geode Capital Management LLC increased its position in shares of WashingtonFirst Bankshares by 21.3% in the first quarter. Geode Capital Management LLC now owns 12,040 shares of the company’s stock worth $263,000 after buying an additional 2,118 shares during the last quarter. Creative Planning increased its position in shares of WashingtonFirst Bankshares by 4.2% in the second quarter. Creative Planning now owns 95,397 shares of the company’s stock worth $2,062,000 after buying an additional 3,834 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in shares of WashingtonFirst Bankshares during the first quarter worth approximately $178,000. Goldman Sachs Group Inc. purchased a new position in shares of WashingtonFirst Bankshares during the first quarter worth approximately $391,000. Finally, Wellington Management Group LLP increased its position in shares of WashingtonFirst Bankshares by 2.8% in the first quarter. Wellington Management Group LLP now owns 913,567 shares of the company’s stock worth $19,961,000 after buying an additional 24,500 shares during the last quarter. Hedge funds and other institutional investors own 48.63% of the company’s stock.
WashingtonFirst Bankshares Company Profile
WashingtonFirst Bankshares, Inc is a bank holding company. The Company, through its subsidiary, WashingtonFirst Bank (the Bank), operates approximately 20 banking offices throughout the Washington, District of Columbia (DC) metropolitan area. The Company’s segments include traditional commercial banking, a mortgage banking business and a wealth management business.
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