Ryan Mauer, Executive Vice President and Chief Credit Officer of WAFD Inc (NASDAQ:WAFD), recently sold 12,132 shares of the company's common stock. The shares were sold at an average price of $33.33, amounting to a total transaction value of $404,364. Following this sale, Mauer holds 100,376 shares, which includes 59,844 stock units awarded through a Supplemental Executive Retirement Plan. This transaction was executed in multiple trades, with prices ranging from $33.02 to $33.47.
In other recent news, WaFd Inc. has announced the release of its earnings results for the quarter and fiscal year ended September 30, 2024. The bank reported operational earnings per share (EPS) of $0.76, surpassing the predicted $0.51, and a pre-provision net revenue (PPNR) of $85.6 million, an 18% beat. WaFd Inc. also declared a cash dividend of $12.1875 per share on its 4.875% Fixed Rate Series A Non-Cumulative Perpetual Preferred Stock, and a regular quarterly cash dividend of 26 cents per share, marking the company's 166th consecutive quarterly cash dividend.
In addition, the company made a strategic decision to sell $3.2 billion of Loan Balance Challenge (LBC) loans, expected to enhance the company's balance sheet flexibility. Analyst firms have also been adjusting their outlooks on WaFd Inc., with Piper Sandler reducing the company's stock price target to $35 due to balance sheet concerns, while DA Davidson and Stephens raised their price targets to $39 and $36 respectively.
These are recent developments for WaFd Inc. that investors should take into account. The company's financial performance and strategic decisions, coupled with analyst perspectives, provide a snapshot of the company's current state. However, it's crucial to remember that these updates are based on current management assumptions and are subject to risks and uncertainties.
InvestingPro Insights
As Ryan Mauer's recent stock sale catches investor attention, it's worth examining WAFD Inc's financial health and market position. According to InvestingPro data, WAFD boasts a market capitalization of $2.75 billion and a price-to-earnings ratio of 13.55, suggesting a relatively modest valuation compared to industry peers.
WAFD's dividend policy stands out as a key strength. An InvestingPro Tip highlights that the company has maintained dividend payments for an impressive 42 consecutive years, demonstrating a strong commitment to shareholder returns. This is further supported by a current dividend yield of 3.11%, which may attract income-focused investors.
Despite the recent insider sale, WAFD's financial performance remains solid. The company's revenue for the last twelve months reached $704.02 million, with a notable quarterly revenue growth of 24.52% in the most recent quarter. Additionally, WAFD's operating income margin stands at a robust 41.69%, indicating efficient operations.
It's important to note that while the company shows strengths, an InvestingPro Tip cautions that WAFD suffers from weak gross profit margins. This factor may warrant closer scrutiny by potential investors.
For those seeking a more comprehensive analysis, InvestingPro offers 7 additional tips on WAFD, providing deeper insights into the company's financial health and market position.
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