SEATTLE—Cathy E. Cooper, Executive Vice President and Chief Consumer Banker at WAFD Inc (NASDAQ:WAFD), recently sold 7,500 shares of the company’s common stock. The shares were sold at an average price of $32.525 per share, bringing the total transaction value to approximately $243,937.
Following this transaction, Cooper holds a direct ownership of 74,250 shares, which includes 34,909 stock units awarded through a Supplemental Executive Retirement Plan (SERP). Additionally, Cooper maintains an indirect ownership of 10,136 shares through a 401(k) plan.
This sale comes as part of Cooper's ongoing management of her holdings in the company. Investors often monitor such transactions to gauge insider sentiment and potential impacts on stock performance.
In other recent news, WaFd Inc. has made several noteworthy announcements. The company revealed its earnings results for the quarter and fiscal year ended September 30, 2024, outperforming analysts' expectations with operational earnings per share (EPS) of $0.76, surpassing the predicted $0.51. WaFd's pre-provision net revenue (PPNR) also exceeded forecasts, reporting at $85.6 million, an 18% beat.
The company declared a cash dividend of $12.1875 per share on its 4.875% Fixed Rate Series A Non-Cumulative Perpetual Preferred Stock and a regular quarterly cash dividend of 26 cents per share. This marks the company's 166th consecutive quarterly cash dividend.
In the realm of analyst perspectives, Piper Sandler adjusted its outlook on WaFd, reducing the stock's price target to $35, while DA Davidson increased WaFd's price target to $39, and Stephens raised the price target for WaFd to $36.00.
WaFd also sold $3.2 billion of Loan Balance Challenge (LBC) loans, a strategic decision expected to enhance the company's balance sheet flexibility. These are recent developments for WaFd Inc.
InvestingPro Insights
As Cathy E. Cooper adjusts her stake in WAFD Inc, it's worth examining some key financial metrics and insights provided by InvestingPro. The company currently boasts a market capitalization of $2.75 billion and trades at a price-to-earnings ratio of 13.55, suggesting a relatively modest valuation compared to industry peers.
WAFD has demonstrated a commitment to shareholder returns, with InvestingPro Tips highlighting that the company has maintained dividend payments for an impressive 42 consecutive years. This long-standing dividend history, coupled with a current dividend yield of 3.11%, may appeal to income-focused investors. Additionally, WAFD has raised its dividend for 5 consecutive years, further underlining its dedication to returning value to shareholders.
Despite these positive attributes, it's important to note that 3 analysts have revised their earnings downwards for the upcoming period, according to InvestingPro Tips. This could potentially signal some near-term headwinds for the company. Investors seeking a more comprehensive analysis can access 7 additional InvestingPro Tips for WAFD, providing a deeper understanding of the company's financial health and future prospects.
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