Regional bank Washington Federal's Q1 EPS rises

Reuters
Jan 16
Regional bank <a href="https://laohu8.com/S/WAFDP">Washington Federal</a>'s Q1 EPS rises

Overview

  • U.S. bank's fiscal Q1 EPS rose 46% yr/yr, driven by steady margin and lower expenses

  • Company repurchased 1.95 mln shares at average price of $29.75 per share

  • Fiscal Q1 net interest income increased to $171 mln

Outlook

  • Company expects stronger loan production in coming months

Result Drivers

  • EARNINGS GROWTH - Driven by steady net interest margin, increased non-interest income, and lower expenses

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q1 EPS

$0.79

Q1 Net Interest Income

$171 mln

Q1 Net Interest Margin

2.70%

Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the banks peer group is "buy."

  • Wall Street's median 12-month price target for WaFd Inc is $32.25, about 2.4% below its January 14 closing price of $33.04

  • The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 10 three months ago

Press Release: ID:nBw3KbnF7a

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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