WaFd Bank (WAFD) Q4 Earnings Preview: Key Points to Watch

WaFd Bank Set to Release Earnings Report

This Thursday after the market closes, regional banking institution WaFd (NASDAQ:WAFD) will share its latest earnings results. Here’s a look at what’s anticipated.

In the previous quarter, WaFd Bank’s revenue came in at $187.2 million, which was unchanged from the same period last year and fell short of analyst forecasts by 1.7%. The company also missed expectations for both net interest income and earnings per share, making it a challenging quarter.

Wondering whether WaFd Bank is a good investment ahead of its earnings announcement?

Analyst Expectations for This Quarter

For the upcoming report, analysts predict WaFd Bank’s revenue will rise by 10.6% year-over-year to reach $193.3 million, a stronger growth rate than the 4.6% increase seen in the same quarter last year. Adjusted earnings per share are projected to be $0.76.

WaFd Bank Total Revenue

Analyst forecasts have remained largely unchanged over the past month, indicating confidence that the company will maintain its current trajectory. Over the last two years, WaFd Bank has missed revenue expectations from Wall Street on four occasions.

Performance Among Peers

Within the banking sector, only JPMorgan Chase has reported its results so far, matching analyst revenue projections and achieving a 6.9% increase in sales compared to the previous year. However, the company’s stock price dropped 91.4% following the announcement.

For a detailed breakdown of JPMorgan Chase’s earnings, read our full report here.

Market Sentiment and Price Targets

Banking sector investors have generally remained steady ahead of earnings season, with share prices declining by an average of 1.2% over the past month. WaFd Bank’s stock has slipped 2.4% during this period, and analysts currently have an average price target of $33.13, slightly above its current price of $32.35.

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