Washington Federal Inc. reported a tenfold profit increase in the quarter Thursday, motivated by gains from a purchase and tax benefits. For the three months ending March 31, Washington Federal Inc. earned $82.1 million. Washington Federal Inc trades on the “NASDAQ” under the stock symbol “WFSL”. For More information “WFSL” as well as the Latest Stock Market Information, make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
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Washington Federal Inc. (NASDAQ:WFSL), a Regional bank Holding Company reported a nearly tenfold profit increase in the quarter Thursday, motivated by gains from an acquisition and tax benefits. For the three months ending March 31, Washington Federal Inc. earned $82.1 million, or 73 cents per share. That compared with $8.4 million, or 10 cents per share, in the year-ago period. Shares of Washington Federal advanced 26 cents to $20.77 in afternoon trading.
On average, analysts expected a profit of 10 cents per share. Analyst estimates do not include one-time charges or gains, however.
The rapid leap in earnings was the motivated by a $55 million after a tax boost from the purchase of the Horizon Bank, a bank that was unsuccessful which was headquartered in Bellingham, Washington.
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