The combination of earnings beat, margin expansion, and improving credit quality suggests strong fundamentals. The share buybacks at a premium to tangible book value indicate management confidence, making this a potential buying opportunity.
Price Chart
Executive Summary
WaFd Inc. reported Q2 2026 earnings of $0.82 per share, beating consensus expectations, with net interest margin expanding to 2.81% and credit quality improving. The bank aggressively repurchased shares, buying back 2.7 million shares at $31.85 per share.
Key Financial Metrics
Key Facts
- EPS of $0.82 beat consensus, representing a 7.0% surprise
- Net interest margin increased to 2.81% from 2.70% in prior quarter
- Non-performing assets decreased to 0.48% of total assets from 0.75%
- Company repurchased 2.7 million shares at $31.85 per share during the quarter
Financial Impact
$65.5 million net income and $0.82 EPS
Risk Factors
- Potential for margin compression if interest rates decline
- Concentration in commercial real estate lending
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000936528-26-000038 |
| Exhibit: exhibit991_march2026earnin.htm | 0000936528-26-000038 |
| Document: wfsl-20260416.htm | 0000936528-26-000038 |
| Document: 0000936528-26-000038-index-headers.html | 0000936528-26-000038 |
| Document: 0000936528-26-000038-index.html | 0000936528-26-000038 |
| Document: 0000936528-26-000038.txt | 0000936528-26-000038 |
| 8-K Data (Synthetic) | 0000936528-26-000038 |
US Market Status
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