WAFD
WaFd Inc (NASDAQ: WAFD) reported strong loan growth and a 23% total shareholder return as loan originations...
Article Summary
SELL- WaFd Inc (NASDAQ: WAFD) reported strong loan growth and a 23% total shareholder return as loan originations outpaced repayments, supported by $1.5 billion in originations versus $1 billion in repayments.
- Net interest margins held steady at 2.81%, noninterest income increased, and the efficiency ratio improved to 53.7% from 55.7%, reflecting better cost management.
- Nonperforming assets increased slightly to $136 million, largely due to increased nonaccrual loans in the C&I segment, while the net provision for credit losses was $11 million, reflecting concerns related to possible losses on adversely classified loans.
- Total deposits decreased by $192 million during the quarter, with interest-bearing deposits and time deposits declining, and criticism loans increased by $139 million representing 4.9% of net loans, indicating rising credit risk concerns.
- Competition for deposits is intense, leading to increased rates to maintain deposit levels, which could pressure margins.
- WaFd maintains a strong capital profile with an estimated CET1 ratio of 11.
Free users see 3 BUY signals per day. Premium unlocks all of them, plus instant email alerts.
See Plans
Growth Stock Scoring Breakdown
| METRIC | VALUE | WEIGHT | ANALYSIS |
|---|---|---|---|
| Sales Growth TTM ? | -4.6% | 25% | 0.0 ptsDeclining (-4.6%) - NOT a growth stock |
| EPS Growth Next 5Y ? | 9.5% | 25% | 20.0 ptsWeak (9.5%) - Low expectations |
| Target Price Upside ? | 5.2% | 20% | 35.0 ptsBelow Screener (5.2%) - Target: $39.00 vs Current: $37.08 |
| Gross Margin % ? | — | 15% | 40.0 ptsNo Gross Margin Data |
| Drawdown from 52-Wk High ? | -6.1% | 15% | 20.0 ptsBarely a Dip (-6.1%) - Near recent highs |
Disclaimer: This rating is for informational purposes only and is not financial advice.
All data sourced from Finviz.
Always conduct your own research and consult with a financial advisor before making investment decisions.
Past performance does not guarantee future results.
About WAFD
- WaFd, Inc. operates as the bank holding company for Washington Federal Bank that provides lending, depository, insurance, and other banking services in the United States.
- The company provides deposit products, including business and personal checking accounts, and term certificates of deposit, as well as money market accounts and passbook savings accounts.
- It offers single-family residential, construction, land acquisition and development, consumer lot, multi-family residential, commercial real estate, home equity, business, and consumer loans, as well as commercial and industrial loans.
- In addition, the company offers insurance brokerage services, such as individual and business insurance policies; holds and markets real estate properties; and debit and credit cards, as well as acts as the trustee.
- Additionally, it provides technology and data services; and personalized financial guidance and investment services.
- It serves consumers, mid-sized and large businesses, and owners and developers of commercial real estate.
- The company was formerly known as Washington Federal, Inc. and changed its name to WaFd, Inc. in September 2023.
- WaFd, Inc. was founded in 1917 and is headquartered in Seattle, Washington.