WaFd, Inc.
- Open
- 36.71
- Day high
- 36.94
- Day low
- 36.38
- Prev close
- 36.84
- Volume
- 66K
- Mkt cap
- $2.7B
- P/E (TTM)
- 11.2
- EPS (TTM)
- $3.28
- P/B
- 0.9
- P/S
- 2.0
- Yield
- 1.47%
- Per share
- $0.54
- ▼Insiders net selling -$776K over the last 3 months (0 open-market buys, 1 sale)
- 🏛Institutions mixed (13F)
WaFd, Inc. (WAFD) is a Financial Services company listed on NASDAQ. The stock is up 24% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 1 sale (SEC Form 4).
WaFd, Inc. (WAFD) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
WAFD earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 17, 2026 | $0.82 | $0.81 | -1.2% | $206M | +3.0% |
| Apr 17, 2026 | $0.74 | $0.83 | +12.2% | $197M | +3.7% |
| Jan 15, 2026 | $0.76 | $0.75 | -1.3% | $192M | -0.7% |
| Oct 16, 2025 | $0.77 | $0.72 | -5.9% | $188M | -1.5% |
| Jul 17, 2025 | $0.67 | $0.73 | +9.0% | $186M | +1.1% |
| Apr 11, 2025 | $0.58 | $0.65 | +12.1% | $180M | +3.4% |
| Jan 16, 2025 | $0.65 | $0.62 | -4.6% | $172M | -1.4% |
| Oct 17, 2024 | $0.70 | $0.71 | +1.4% | $189M | -2.7% |
| Jul 16, 2024 | $0.57 | $0.75 | +31.6% | $194M | +13.0% |
| Jan 16, 2024 | $0.77 | $0.85 | +10.4% | $168M | +2.1% |
| Oct 17, 2023 | $0.89 | $0.72 | -19.1% | $178M | +5.8% |
| Jul 14, 2023 | $0.94 | $0.89 | -5.3% | $183M | +7.4% |
WAFD insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Apr 27, 2026 | Robison Kim Eofficer: EVP & Chief Operations Officer | Sell | 22,000 | $35.28 |
| Mar 2, 2026 | Sanden Blayneofficer: SVP & PAO | Tax | 46 | $31.16 |
| Feb 6, 2026 | Cooper Cathy Eofficer: EVP & Chief Consumer Banker | Sell | 5,300 | $33.77 |
| Jan 21, 2026 | Sanden Blayneofficer: SVP & PAO | Grant | 750 | $31.44 |
| Jan 5, 2026 | Bice Shawndirector | Grant | 3,310 | $32.03 |
| Jan 5, 2026 | GRANT DAVID Kdirector | Grant | 3,310 | $32.03 |
| Jan 5, 2026 | Singleton Seandirector | Grant | 3,310 | $32.03 |
| Jan 5, 2026 | YZAGUIRRE MARIO MAXdirector | Grant | 3,310 | $32.03 |
| Jan 5, 2026 | BROWER LINDA Sdirector | Tax | 993 | $32.03 |
| Jan 5, 2026 | Hampel Sylviadirector | Grant | 3,310 | $32.03 |
| Jan 5, 2026 | TALBOT RANDALL Hdirector | Grant | 3,310 | $32.03 |
| Jan 5, 2026 | Singleton Seandirector | Tax | 808 | $32.03 |
| Jan 5, 2026 | SHUSTER BRADLEY Mdirector | Grant | 3,310 | $32.03 |
| Jan 5, 2026 | SINGH SUDHIR STEVENdirector | Grant | 3,310 | $32.03 |
| Jan 5, 2026 | BROWER LINDA Sdirector | Grant | 3,310 | $32.03 |
Source: WAFD SEC Form 4 filings, latest Apr 27, 2026. For informational purposes only — not investment advice.
See the full WAFD insider & 13F page →WaFd, Inc. company profile
Overview
Washington Federal, Inc. (NASDAQ:WAFD) is a regional bank holding company founded in 1917 and headquartered in Seattle, Washington. The company operates through its subsidiary Washington Federal Bank, National Association, providing traditional banking services across eight western states. With over a century of operations, Washington Federal has grown from a local savings institution to a regional bank with 219 branches serving consumers, businesses, and commercial real estate developers throughout Washington, Oregon, Idaho, Arizona, Utah, Nevada, New Mexico, and Texas.
Business
Washington Federal operates as a traditional regional bank in the financial services sector, focusing primarily on deposit-taking and lending activities. The bank's core business revolves around accepting customer deposits and using those funds to make loans, earning profit from the interest rate spread between what it pays depositors and what it charges borrowers. The company's deposit products include standard banking offerings such as business and personal checking accounts, savings accounts, money market accounts, and certificates of deposit (CDs). These products serve as the primary funding source for the bank's lending operations, with customers earning interest on their deposits while providing the bank with capital to lend. On the lending side, Washington Federal offers a comprehensive range of loan products. Single-family residential mortgages represent a significant portion of their loan portfolio, providing financing for home purchases and refinancing. The bank also provides construction and land development loans, which are higher-risk, shorter-term loans used by developers and builders to finance real estate projects. Commercial real estate loans serve businesses and investors purchasing or refinancing commercial properties like office buildings, retail centers, and industrial facilities. Additionally, the bank offers commercial and industrial loans to businesses for working capital, equipment purchases, and expansion needs, along with multi-family residential loans for apartment complexes and other rental properties. Consumer lending includes home equity loans and lines of credit, as well as personal loans. Beyond traditional banking, Washington Federal provides ancillary services including insurance brokerage through which it sells individual and business insurance policies, earning commission income. The bank also offers modern banking conveniences such as mobile and internet banking, debit and credit cards, and acts as a trustee for certain accounts. Some locations also engage in real estate owned (REO) activities, holding and marketing foreclosed properties.
Revenue model
Washington Federal generates revenue primarily through net interest income, which is the difference between interest earned on loans and investments and interest paid on deposits and borrowings. This spread-based model is fundamental to traditional banking, where the bank essentially borrows money from depositors at lower rates and lends it out at higher rates to borrowers. The bank's customers include individual consumers seeking mortgages, home equity loans, and deposit accounts, as well as small to mid-sized businesses requiring commercial loans and banking services. Commercial real estate developers and investors represent another key customer segment, utilizing the bank's construction and commercial real estate lending expertise. Fee-based income provides a secondary revenue stream through various sources including loan origination fees, account maintenance fees, overdraft fees, and commissions from insurance sales. The bank also generates income from trust services and other banking fees. Several factors significantly impact Washington Federal's profitability margins. Interest rate environments critically affect the bank's net interest margin - rising rates can improve margins if loan rates increase faster than deposit rates, while falling rates can compress margins. Credit quality directly impacts profitability through loan loss provisions; economic downturns or regional real estate market weakness can increase defaults and reduce earnings. Competition from other banks and non-bank lenders can pressure both loan pricing and deposit rates, potentially compressing margins. Regulatory compliance costs represent a significant operational expense, particularly for regional banks navigating complex banking regulations. Regional economic conditions in the western states where Washington Federal operates heavily influence loan demand and credit quality, as the bank's performance is tied to local employment, real estate markets, and business conditions. Deposit competition can increase funding costs, especially during periods when customers seek higher-yielding alternatives or when larger banks aggressively compete for deposits.
Competitive moat
Washington Federal possesses a moderate regional banking moat built primarily on local market relationships and regulatory barriers, though this moat faces increasing pressure from multiple directions. The bank's century-long presence in western markets has established deep customer relationships and local market knowledge, particularly in commercial real estate lending where relationship-based lending and local expertise provide competitive advantages. Regulatory barriers to entry create some protection, as establishing new banks requires significant capital, regulatory approval, and time to build deposit bases and lending relationships. The bank's established branch network provides convenient access for customers who value in-person banking services, though this advantage is diminishing as digital banking grows. However, Washington Federal's moat is relatively weak compared to larger national banks or specialized financial institutions. Limited geographic diversification concentrates risk in western U.S. markets, making the bank vulnerable to regional economic downturns. The bank lacks the scale advantages of money center banks, resulting in higher relative operating costs and limited ability to invest heavily in technology. Digital disruption poses a significant threat as fintech companies and online banks offer competitive rates and superior digital experiences without the overhead of physical branches. Credit unions often provide direct competition with tax advantages and member-focused service models. Larger regional and national banks can compete aggressively on pricing while offering more comprehensive services and advanced digital platforms. The bank's concentration in real estate lending, while providing expertise, also creates vulnerability to real estate market cycles and interest rate sensitivity. Non-bank lenders increasingly compete in mortgage and commercial lending markets, often with more flexible underwriting and faster processing capabilities.
Risks & safety
Washington Federal demonstrates moderate financial stability with adequate capital levels but faces typical regional banking risks related to interest rate sensitivity and geographic concentration. • Capital Position: Debt-to-equity ratio of approximately 0.93-1.11 indicates reasonable leverage levels for a bank, with total assets of $27.6 billion supported by $3.0 billion in equity • Liquidity: Strong cash position of $1.5-2.4 billion in cash and short-term investments provides adequate liquidity buffer for operations and regulatory requirements • Profitability: Return on equity of 1.6-2.0% in recent quarters appears low, though this reflects the challenging interest rate environment for regional banks • Valuation Metrics: Trading at P/E ratio of 10.3-13.9 and price-to-book ratio of 0.76-0.87, suggesting the stock trades at a discount to book value • Operational Cash Flow: Generated $439 million in operating cash flow for fiscal 2024, indicating healthy operational performance • Credit Quality: No significant loan loss provisions reported in recent periods, though this could change with economic conditions • Interest Rate Risk: As a traditional bank, significant exposure to interest rate changes affecting net interest margins and asset valuations
Recent development
Based on the available financial data, Washington Federal has maintained relatively stable operations while navigating a challenging interest rate environment over recent years. The bank has demonstrated consistent profitability with net income ranging from $200-257 million annually, though quarterly results show some volatility. The company has maintained a strong balance sheet position with total assets remaining stable around $27-28 billion and maintaining adequate capital ratios. Cash and short-term investments have fluctuated significantly, from around $980 million to over $2.4 billion, likely reflecting changes in deposit flows and investment strategies in response to interest rate movements. Operational efficiency efforts appear ongoing, as evidenced by the bank's ability to maintain positive free cash flow generation ranging from $199-415 million annually. The bank has sustained its dividend payments and maintained its branch network across eight western states, suggesting a strategy focused on preserving market position rather than aggressive expansion. The bank's geographic footprint has remained stable with 219 branches as of the most recent reports, indicating a focus on optimizing existing markets rather than expansion into new territories. Revenue has shown some volatility, ranging from $662-743 million annually, reflecting the impact of changing interest rates on net interest income and fee-based revenue streams.
WAFD company profile · for informational purposes only — not investment advice.
Track WAFD with Drillr
SEC filings, earnings calls, insider activity, alt-data signals — all queryable through Drillr's AI terminal and MCP API.
Try Drillr for free