Monitor the Q1 FY2027 earnings call for updates on the EverBank merger timeline, integration costs, and the expected $7M gain on the multifamily loan sale. The sharp improvement in NPAs and delinquencies suggests credit normalization, but the elevated charge-off quarter may cause near-term EPS volatility.
Price Chart
Executive Summary
WaFd reported Q4 2026 GAAP diluted EPS of $0.76, a 3.8% miss vs consensus of $0.79, and net income of $60.0M, down 9% QoQ. The miss was driven by a $39.2M net charge-off on a large classified loan resolution and $6M in EverBank merger-related costs. Full-year EPS grew 22% to $3.21, and credit quality improved sharply (NPAs down 37% QoQ). The stock will likely trade on the EPS miss and elevated charge-offs, partially offset by the strong annual EPS growth and asset quality recovery.
Key Financial Metrics
Key Facts
- Q4 GAAP diluted EPS $0.76 vs consensus $0.79 (miss of 3.8%)
- Q4 net income $60.0M, down 9% from $66.1M in Q3
- Full-year FY2026 diluted EPS $3.21, up 22% from $2.63 in FY2025
- Net charge-offs surged to $39.2M in Q4 vs $1.6M in Q3, driven by a $36M charge-off on a single large loan
- Non-performing assets fell 37% to $86M (0.32% of total assets) from $136M (0.49%) at June 30
- Net interest margin stable at 2.81% QoQ; net interest income up 0.6% to $182.4M
- Non-interest income rose to $38.1M from $24.2M QoQ, boosted by $16.4M gain on SFR loan sale
- Non-interest expense increased 10.1% QoQ to $121.5M, including $6M in merger-related costs
- EverBank merger announced on September 7, 2026
- Company repurchased 6,929 shares in Q4 at avg $37.60; remaining authorization 7,992,669 shares
Financial Impact
Q4 EPS miss of $0.03 vs consensus; $39.2M net charge-offs; $6M merger costs; $16.4M gain on loan sale partially offset
Risk Factors
- Integration risk and additional merger-related expenses from the EverBank acquisition
- Further credit deterioration if the resolved loan relationship was not an isolated event
- Rising interest rate environment could pressure net interest margin if deposit costs rise faster than asset yields
- Execution risk on the planned $429M multifamily loan sale
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000936528-26-000069 |
| Exhibit: exhibit991_sep2026earnings.htm | 0000936528-26-000069 |
| Document: wfsl-20261015.htm | 0000936528-26-000069 |
| Document: 0000936528-26-000069-index-headers.html | 0000936528-26-000069 |
| Document: 0000936528-26-000069-index.html | 0000936528-26-000069 |
| Document: 0000936528-26-000069.txt | 0000936528-26-000069 |
| 8-K Data (Synthetic) | 0000936528-26-000069 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 4d ago | DEFA14A | $29.46 | awaiting T+5 | — | $29.36 (−0.34%) |
Oct 21, 2026 6d ago | PREM14A | $29.44 | awaiting T+5 | — | $29.36 (−0.27%) |
Oct 19, 2026 8d ago | DEFA14A | $28.62 $29.36 | ▲ +2.59% | ▲ +2.51% | $29.36 (+2.59%) |
Oct 16, 2026 11d ago | 8-K | $28.42 $29.46 | ▼ −3.66% | ▼ −3.80% | $29.36 (−3.31%) |
Sep 18, 2026 5w ago | DEFA14A | $32.39 $31.35 | ▼ −3.21% | ▼ −4.48% | $29.36 (−9.35%) |
Aug 11, 2026 11w ago | 8-K | $37.76 $36.72 | ▼ −2.75% | ▼ −2.31% | $29.36 (−22.25%) |
Jul 17, 2026 14w ago | 8-K | $38.12 $36.72 | ▼ −3.67% | ▼ −2.99% | $29.36 (−22.98%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers