WaFd, Inc. (WAFD)

Over the past six months, WaFd, Inc.'s stock price has increased. WaFd announced quarterly earnings per share, successfully appealed its CRA rating, announced a cash dividend and increased share repurchase authorization, and appointed Erin Hill to the Board of Directors. WaFd Bank was named the Official Banking Partner of the Network of Giving Foundation. Artisan Partners exited its position in WaFd, Inc. Net income increased, total loans receivable and time deposits decreased, and investments grew. Non-performing assets increased, but loan originations increased significantly, and the loan pipeline had been building.

While there is no explicit mention of traditional seasonal fluctuations, demand patterns have been influenced by economic factors and strategic shifts. Loan originations have been reduced due to high interest rates, but new loan originations increased significantly. The decision to exit mortgage lending will alter the demand seasonality for its loan products, with a focus on small business and commercial lending.

WaFd, Inc., operating as WaFd Bank, provides banking services to consumers, businesses, and commercial real estate owners. Its offerings include deposit accounts, various loans, insurance brokerage, real estate marketing, debit and credit cards, trustee services, technology and data services, and financial guidance. In January 2025, the company exited the mortgage lending business to focus on small business and commercial lending due to regulatory burdens and profitability concerns.

WaFd Bank operates approximately 208 to 210 branches across nine western states: Washington, Oregon, Idaho, Utah, Nevada, Arizona, New Mexico, California, and Texas. The acquisition of Luther Burbank Corporation in March 2024 expanded WaFd Bank's presence into California.

WaFd Bank has maintained a positive brand reputation. Forbes recognized WaFd Bank as America's Best-in-State Bank in multiple states. The successful appeal of its CRA rating bolstered its reputation. The company emphasizes its dedication to serving customers, strengthening communities, and delivering value to shareholders. WaFd Bank employees intervened in an extortion attempt on a customer. The partnership with the Network of Giving Foundation aligns with WaFd Bank's community-focused identity.

WaFd, Inc. is a widely held public company with institutional investors holding the majority of its stock. Major institutional shareholders include BlackRock, Inc., Vanguard Group Inc, and Dimensional Fund Advisors Lp. Insider ownership remains below 5%.