Overview

* WaFd Inc ( WAFD ) Q4 net income decreases 2% compared to prior quarter

* Net interest income for Q4 rises to $169.9 mln

* Company repurchased 969,653 shares at $29.74 per share

Result Drivers

* LOAN ORIGINATIONS - Co reports 103% increase in new loan originations over Q3, signaling increased client activity

* BUSINESS MODEL SHIFT - Co shifted focus from mortgage lending to business solutions, improving deposit mix

* IMPROVED MARGIN - Net interest margin increased to 2.71% due to decreasing cost of deposits and borrowings

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q4 EPS $0.72

Q4 Net $169.90

Interest mln

Income

Q4 Net 2.71%

Interest

Margin

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the banks peer group is "buy."

* Wall Street's median 12-month price target for WaFd Inc ( WAFD ) is $32.50, about 11.1% above its October 15 closing price of $28.89

* The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 10 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)