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SEATTLE, WA - WaFd Inc. (NASDAQ:WAFD), a $2.5 billion market cap company specializing in national commercial banking, announced today that its Board of Directors has declared a cash dividend for holders of its Series A Preferred Stock. The dividend, set at $12.1875 per share, translates to $0.30468750 per depositary share, with each depositary share representing a 1/40th interest in a share of Series A Preferred Stock.
The dividend on the Series A Preferred Stock, which trades under the ticker "WAFDP" on the NASDAQ Stock Market, is scheduled to be paid on April 15, 2025, to shareholders of record as of March 31, 2025.
This announcement represents a routine corporate action and is part of the company’s ongoing financial management practices. WaFd Inc. has a history of providing dividends to its shareholders, and this recent declaration continues that tradition for holders of the preferred stock.
Investors and shareholders are reminded that forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the expected outcomes. These forward-looking statements are based on management’s current assumptions and expectations and are not guarantees of future performance.
The company’s recent financial disclosures and risk factors have been outlined in its Annual Report on Form 10-K for the year ended September 30, 2024, as well as other reports filed with the SEC, all of which are available on the SEC’s website.
This financial update is based on a press release statement and the most recent Form 8-K filing with the Securities and Exchange Commission by WaFd Inc. on February 11, 2025.
In other recent news, WaFd, Inc. has increased its regular quarterly cash dividend to 27 cents per share, underscoring the company’s commitment to shareholder value and confidence in its financial stability. However, several analyst firms have revised their outlook on the company. DA Davidson downgraded Washington Federal’s stock from Buy to Neutral due to a "sizable strategic pivot" and a first-quarter earnings miss for fiscal year 2025. The firm also expressed concerns about the bank’s recent exit from the single-family residential mortgage business.
Similarly, Piper Sandler maintained a Neutral rating on Washington Federal but reduced the bank’s price target from $37.00 to $31.00. This adjustment was made in light of the bank’s strategic exit from single-family residential lending and a weaker-than-anticipated net interest margin. Piper Sandler’s analyst, Matthew Clark, also revised downward the earnings per share estimates for the fiscal years 2025 and 2026.
Keefe, Bruyette & Woods also reduced Washington Federal’s price target to $34.00, while retaining a Market Perform rating. The firm cited a core Net Interest Margin miss and the bank’s decision to exit the Single-Family Residential origination business as key factors driving estimates lower. These recent developments reflect the ongoing strategic shifts within Washington Federal as it navigates changes within the banking sector.
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