Despite Underperformance, WaFd Can Still Deliver
WaFd receives a reaffirmed soft ‘buy' rating, reflecting solid fundamentals despite recent underperformance versus the S&P 500. WAFD's net interest margin expanded to 2.76%, supporting higher net interest income and profitability amid modest declines in deposits and loans. The bank trades at a forward P/E of 9.8, below most peers, and at a discount to book value, enhancing its relative valuation appeal.
WAFD - WaFd, Inc.