WaFd, Inc.
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Range $36 – $40
Price Chart
About the company
WaFd, Inc. delivers a comprehensive suite of banking and financial services, encompassing lending, deposit accounts, and insurance, primarily catering to individual consumers. Beyond retail banking, the company also serves the financial needs of mid-sized to large businesses, as well as owners and developers within the commercial real estate sector.
- CEO
- Brent J. Beardall
- IPO
- 1982
- Employees
- 1,979
- HQ
- Seattle, WA, US
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Similar companies
Peers in the same neighborhood.
- Market Cap
- $2.70B
- P/E
- 11.14
- Fwd P/E
- 11.10
- PEG
- 0.45
- P/S
- 1.95
- P/B
- 0.89
- EV/EBITDA
- 16.00
- Div Yield
- 2.96%
- Gross Margin
- 54.86%
- Op Margin
- 23.63%
- Net Margin
- 18.47%
- ROE
- 8.50%
- ROIC
- 0.93%
Latest fiscal year · YoY change
- Revenue
- $1.41B-1.6%
- Gross Profit
- $717.73M+1.9%
- Op Income
- $289.64M
- Net Income
- $226.07M+13.0%
- EPS
- $2.64+5.6%
- OCF Growth
- -46.1%
- FCF Growth
- -49.8%
- 52W High
- $39.49
- 52W Low
- $26.31
- 50D MA
- $37.40
- 200D MA
- $33.97
- Beta
- 0.83
- RSI (14)
- 41
- Avg Volume
- 588.22K
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
WaFd posted higher quarterly EPS on modest loan growth, steadier margins, and controlled expenses, while management stayed upbeat on lending momentum but cautious on deposit competition and credit headwinds.· July 17, 2026
- Net income was $62.5 million, or $0.84 per diluted share, up from $0.82 in March and $0.73 a year ago.
- Loans receivable rose $51 million in the quarter, with active loan types up $315 million and originations of $1.5 billion outpacing $1.0 billion of repayments/payoffs.
- Net interest margin held at 2.81%, and management said margin should be relatively flat next quarter absent rate changes.
- Criticized loans and nonperformers ticked higher, but management said credit metrics remain manageable given reserves and capital.
- The company paused buybacks after a strong share price move, while still seeing capital as available for organic growth, M&A, or repurchases.
WaFd Inc. reported net income available to common shareholders of $62.5 million, or $0.84 per diluted share, for the quarter ended June 30, 2026. That compared with $0.73 per share in the third quarter of fiscal 2025 and $0.82 per share in the March 2026 quarter. Net interest income increased $3.8 million sequentially, and net interest margin held steady at 2.81% (spot margin 2.82%). Non-interest income rose $4.4 million to $24.2 million, non-interest expense was flat at $110 million, and the efficiency ratio improved to 53.7% from 55.7% last quarter. Loans receivable increased $51 million; originations were $1.5 billion and repayments/payoffs were $1.0 billion. Total deposits declined $192 million, and loan-to-deposit ratio ended at 95.6%. Management estimated CET1 at 11.4% and total risk-based capital at 14.4%, with on-balance-sheet liquidity of $4.8 billion. For guidance, management expects margin to be relatively flat next quarter if rates do not change, effective tax rate around 21.8% for fiscal 2026, and active loan portfolio growth of 8%-12% going forward.
Brent Beardall framed the quarter as a continuation of WaFd’s shift toward business banking, with loan growth again the main headline. He emphasized strong active loan growth, especially C&I, and said the strategic plan, Build 2030, is aimed at improving the deposit mix, lowering funding costs, and growing the business banking franchise over time. His tone was confident but pragmatic: he acknowledged intense deposit competition, a challenging M&A environment, and that the bank would remain disciplined rather than overpay for deals.
Kelli Holz focused on the quarter’s operating and balance-sheet details, highlighting $62.5 million of net income, $0.84 EPS, $3.8 million of sequential net interest income growth, and a stable 2.81% margin. She noted total deposits fell $192 million while non-interest-bearing deposits rose $69 million, and said the company’s capital remained strong with CET1 at 11.4% and total risk-based capital at 14.4%. She also said WaFd sold $77 million of securities at a net gain of $110,000, expects the Luther Burbank accretion to continue at $6 million to $7 million per quarter, and set fiscal 2026 effective tax rate guidance at about 21.8%.
Analysts pressed on loan growth durability, margin path, deposit costs, buybacks, and M&A. Management said net loan growth in the near term could be in the low single digits on a net basis, margin guidance already includes Luther Burbank accretion and securities actions, and higher rates would likely help margin if they occur. On capital deployment, management said the priorities are organic growth first, then strategic M&A if the economics work, and only then repurchases; it also said buybacks will likely be less aggressive near current trading levels.
The bull case is that WaFd is showing renewed loan growth after a period of contraction, with active loans up 10% linked quarter and originations strong at $1.5 billion. Management also sees a robust pipeline, stable margins near term, and multiple capital options if Basel revisions are finalized and provide relief.
The bear case is that deposit competition is intense, core funding is still under pressure, and management does not expect a quick return to 3%+ margin without a favorable rate backdrop. Credit quality is also somewhat weaker, with criticized loans up to 4.9% of net loans and a large $54 million C&I nonperformer still affecting NPAs and delinquencies.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 98.8%
- Shares Outstanding
- 73.95M
- Float Shares
- 73.07M
of shares held by institutions
257 13F filers
Buy/sell ratio 4.00. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Congressional trading
Senate and House stock disclosures for WAFD, newest first.
Source: public STOCK Act disclosures. Filed weeks after the trade — a lagging signal, not a real-time one.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Blackrock, Inc. | 10.77M | ▼ 269.89K |
| Vanguard Group Inc | 8.78M | ▼ 272.79K |
| Dimensional Fund Advisors LP | 4.96M | ▲ 18.92K |
| State Street Corp | 4.35M | ▲ 130.14K |
| Alliancebernstein L.P. | 3.81M | ▲ 232.94K |
| Vanguard Capital Management LLC | 3.32M | ▼ 102.92K |
| Fuller & Thaler Asset Management, Inc. | 3.14M | ▼ 112.28K |
| American Century Companies Inc | 2.42M | ▲ 206.22K |
| Geode Capital Management, LLC | 1.99M | ▲ 35.12K |
| Systematic Financial Management LP | 1.56M | ▲ 19.79K |
| Ameriprise Financial Inc | 1.09M | ▲ 243.46K |
| Sixth Street Partners Management Company, L.P. | 1.02M | ▲ 1.02M |
Held by 346 ETFs
Biggest fund positions in WAFD by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Apr 24, 26 | Robison Kim E | sell | 22,000 |
| Mar 2, 26 | Hill Erin | other | 0 |
| Feb 27, 26 | Hill Erin | other | 0 |
| Feb 27, 26 | Sanden Blayne | other | 46 |
| Feb 6, 26 | Cooper Cathy E | sell | 5,300 |
| Jan 20, 26 | Sanden Blayne | other | 750 |
| Jan 2, 26 | Sanden Blayne | other | 456 |
| Jan 2, 26 | Bice Shawn | other | 3,310 |
| Jan 2, 26 | BROWER LINDA S | other | 3,310 |
| Jan 2, 26 | BROWER LINDA S | other | 993 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our WAFD coverage
Recent articles, reports, and earnings notes.
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