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8-K ·Filed Oct 16, 2026

WAFD

WAFD INC
BEARISH
Impact 6/10
Horizonweeks Processed11d 9h ago SEC0000936528-26-000069
8-K Item 2.02: Earnings release
Actionable Insight ▼ Bearish

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.

DirectionBearish
Confidencehigh
Horizonweeks
Latest settled — T+5d
WAFD ▲ +3.66% at T+5d
SHORT call ✗ call lost -3.66% · α vs SPY -3.80% · entry $28.42 → $29.46
Next anchor: T+20d in 16d
Latest observation: T+6 -1.86% FF3 residual α
Entry = T+0 close
Oct 16, 2026
via day close
T+1d
+0.70%
call -0.70% · α -0.37%
$28.62
settled 9d ago
T+5d
+3.66%
call -3.66% · α -3.80%
$29.46
settled 5d ago
T+20d
Pending
in 16d
T+60d
Pending
in 3mo

Price Chart

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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

EPS
$0.76
est $0.79 · -3.8%
Revenue
$220.4M
est $203.6M · +8.3%
Rating
miss

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

epsnet incomecharge-offsnon-interest incomenon-interest expense

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

Traditional Finance

Documents Analyzed

This report is based on 7 SEC documents filed with EDGAR.

DocumentAccession Number
8-K Filing (Primary)0000936528-26-000069
Exhibit: exhibit991_sep2026earnings.htm0000936528-26-000069
Document: wfsl-20261015.htm0000936528-26-000069
Document: 0000936528-26-000069-index-headers.html0000936528-26-000069
Document: 0000936528-26-000069-index.html0000936528-26-000069
Document: 0000936528-26-000069.txt0000936528-26-000069
8-K Data (Synthetic)0000936528-26-000069
7 reports for WAFD
Performance horizon
Filters
Rows
Reports for WAFD — sortable, filterable
TypeNow
Oct 23, 2026
4d ago
DEFA14A
NEUTRAL ★ 5/10
$29.46awaiting T+5—$29.36 (−0.34%)
Oct 21, 2026
6d ago
PREM14A
NEUTRAL ★ 6/10
$29.44awaiting T+5—$29.36 (−0.27%)
Oct 19, 2026
8d ago
DEFA14A
MIXED ★ 5/10
$28.62 $29.36▲ +2.59%▲ +2.51%$29.36 (+2.59%)
Oct 16, 2026
11d ago
8-K
BEARISH ★ 6/10
$28.42 $29.46▼ −3.66%▼ −3.80%$29.36 (−3.31%)
Sep 18, 2026
5w ago
DEFA14A
NEUTRAL ★ 3/10
$32.39 $31.35▼ −3.21%▼ −4.48%$29.36 (−9.35%)
Aug 11, 2026
11w ago
8-K
NEUTRAL ★ 2/10
$37.76 $36.72▼ −2.75%▼ −2.31%$29.36 (−22.25%)
Jul 17, 2026
14w ago
8-K
MIXED ★ 5/10
$38.12 $36.72▼ −3.67%▼ −2.99%$29.36 (−22.98%)
Showing 7 of 7

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Report published Oct 16, 2026