Overview

* Washington Federal fiscal Q3 EPS of $0.73 beats analyst expectations, per LSEG data

* Net interest income rises to $168 mln, driven by improved margins

* Co repurchased 1.66 mln shares during quarter

Outlook

* Company notes tepid loan demand amid economic uncertainty

* Washington Federal anticipates continued cautious borrower behavior

Result Drivers

* IMPROVED MARGINS - Strong core earnings driven by improved net interest margin

* COST REDUCTION - Decreased cost of funds due to lower deposit rates and reduced borrowings

* SHARE REPURCHASE - Aggressive share repurchase contributed to EPS increase and tangible book value growth

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS Beat $0.73 $0.68 (4

Analysts

)

Q3 Net $168 mln

Interest

Income

Q3 Net 2.7%

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 $29.50, about 0.2% above its July 16 closing price of $29.45

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

Press Release:

(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.)