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SEATTLE - WaFd, Inc. (NASDAQ:WAFD), the holding company for WaFd Bank, has announced an increase in its regular quarterly cash dividend to 27 cents per share, marking the company’s 168th consecutive quarterly cash dividend. The dividend is scheduled to be paid on March 7, 2025, to shareholders of record as of February 21, 2025. According to InvestingPro data, WaFd has maintained dividend payments for 42 consecutive years and currently offers a 3.5% dividend yield.
The bank, which operates under the name WaFd Bank, is a Washington state chartered commercial bank with a federal insurance. With a history dating back to 1917, WaFd Bank offers a range of services including consumer and commercial deposit accounts, business and real estate financing, and insurance products through a subsidiary. As of December 31, 2024, WaFd Inc. reported operating 210 branches with $27.7 billion in assets, $21.4 billion in deposits, and $3.0 billion in shareholders’ equity. The branches are spread across nine states, including Washington, Oregon, Idaho, Utah, Nevada, Arizona, Texas, New Mexico, and California. With a market capitalization of $2.5 billion and a P/E ratio of 13.8, InvestingPro analysis suggests the stock is currently undervalued relative to its Fair Value.
The company’s financial performance and future conditions are subject to various risks and uncertainties, which are detailed in its regulatory filings with the SEC, including its Annual Report on Form 10-K for the year ended September 30, 2024. These filings provide insights into the company’s risk factors and other matters that could potentially affect its financial condition or performance.
This increase in dividend reflects the company’s ongoing commitment to providing value to its shareholders and demonstrates a level of confidence in its financial stability and profitability. The information provided here is based on a press release statement from WaFd, Inc.
In other recent news, Washington Federal has been the focus of several analyst actions. DA Davidson downgraded the company’s stock from Buy to Neutral, setting a new price target of $32.00, following a first-quarter earnings miss for fiscal year 2025 and a strategic pivot that includes an exit from the single-family residential mortgage business. Simultaneously, Piper Sandler maintained a Neutral rating but lowered the price target from $37.00 to $31.00, reflecting a recalibration of expectations due to Washington Federal’s strategic changes and weaker-than-anticipated net interest margin.
Meanwhile, Keefe, Bruyette & Woods also adjusted their price target for Washington Federal, reducing it to $34.00 while retaining a Market Perform rating. The revision was influenced by a core net interest margin miss and the company’s decision to exit the single-family residential origination business. On the other hand, Stephens maintained an Equal Weight rating on Washington Federal’s stock with a steady price target of $38.00, following the company’s fourth-quarter operational earnings per share report.
These developments have come in the wake of Washington Federal’s strategic shift away from single-family residential lending and towards commercial lending. The bank’s efforts to reshape its balance sheet and improve profitability have been met with caution by analysts, who have adjusted their expectations and valuation models accordingly.
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