WaFd (WAFD)
Provides commercial and consumer banking across nine western states, increasingly centered on business relationships.
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Accepts consumer and business deposits, then earns primarily from commercial real estate, business, construction, and legacy residential loans across nine western states. Relationship banking pairs credit with treasury, merchant, insurance, and wealth services, while new mortgage originations have ended as the loan mix shifts toward commercial borrowers.
Accepts consumer and business deposits and extends commercial real estate, multifamily, construction, land-development, commercial-and-industrial, and SBA credit. Treasury and merchant services, insurance brokerage through WaFd Insurance Group, and investment services through WaFd Wealth broaden the relationship beyond lending.
Serves nine western states through branches and digital channels, with Washington providing the largest deposit base. The franchise is shifting from its thrift heritage toward commercial relationship banking: new single-family mortgage and home-equity originations have ended, while the sizable legacy residential portfolio continues to run off and commercial lending supplies nearly all new originations.
Earnings depend mainly on lending spreads and deposit funding, with credit exposure concentrated in commercial property and the remaining residential mortgage book. The state-chartered, federally insured bank is regulated by Washington and federal banking agencies.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Jul 20, 2026 | DA Davidson | Reiterate | Rating: —Target: $41 | Target: $40 |
| Apr 20, 2026 | Piper Sandler | Reiterate | Rating: —Target: $30.50 | Target: $36 |
| Jan 20, 2026 | RBC Capital | Target | Target: — | Target: $34 |
| Jan 20, 2026 | Piper Sandler | Reiterate | Rating: —Target: $35 | Target: $30.50 |
| Feb 6, 2025 | DA Davidson | Downgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $676.5M · Total debt $3.32B · Total assets $27.60B · Shareholders' equity $3.02B
- Revenue
- $356.5M
- Operating income
- $84.3M
- Net income
- $66.1M
HistoryDividendAnnual yield
| Institutions | 86.68% | 64.14M shares | |
|---|---|---|---|
| 288 holders · as of Jun 30, 2026 | |||
| Insiders | 1.67% | 1.24M shares | |
| 18 holders · as of Apr 27, 2026 | |||
| Other | 11.65% | 8.62M shares | |
| remainder | |||
74.00M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 14.56% | 10.77M | as of Jun 30, 2026 |
Dimensional Fund Advisors LPInstitution | 6.71% | 4.96M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 6.43% | 4.76M | as of Jun 30, 2026 |
State Street CorpInstitution | 5.87% | 4.35M | as of Jun 30, 2026 |
AllianceBernstein L.P.Institution | 5.15% | 3.81M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Apr 24, 2026 | Kim E. Robison | officer: EVP & Chief Operations Officer | −22,000 | $35.28 |
| Feb 6, 2026 | Cathy E. Cooper | officer: EVP & Chief Consumer Banker | −5,300 | $33.77 |
| Dec 3, 2025 | Brent J. Beardall | director, officer: President & CEO | +3,000 | $16.85 |
| Nov 26, 2025 | Brent J. Beardall | director, officer: President & CEO | +3,000 | $16.55 |
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- Banner
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- Heritage Financial
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| WaFd | $31.83 | −1.44% | $2.39B | 9.9 | 9.4 | 1.7 | +10.3% |
| Columbia Banking System | $29.54 | −1.20% | $8.46B | 11.9 | 9.4 | 2.4 | +33.1% |
| Zions Bancorporation | $63.89 | −1.67% | $9.48B | 8.3 | 9.7 | 1.8 | +4.8% |
| Western Alliance | $78.59 | −0.08% | $8.59B | 8.8 | 7.6 | 1.7 | +17.7% |
| First Interstate BancSystem | $36.73 | −0.27% | $3.58B | 11.3 | 13.2 | 3.8 | +6.3% |
| Glacier Bancorp | $44.46 | −0.80% | $5.83B | 18.1 | 13.2 | 3.8 | +36.8% |
| Banner | $69.52 | −0.29% | $2.37B | 11.5 | 11.4 | 3.6 | +6.1% |
| Heritage Financial | $28.44 | +1.57% | $1.15B | 13.3 | 12.2 | 3.4 | +48.9% |
| Median | 11.5 | 11.4 | 3.4 | +17.7% |