Waterstone Financial (WSBF)
Runs a southeastern Wisconsin bank and a multistate residential mortgage business.
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Combines community banking around southeastern Wisconsin with residential mortgage origination through Waterstone Mortgage Corporation. Community Banking supplies deposits, lending and investment services, while Mortgage Banking originates home loans mainly for sale into the secondary market.
Operates through Community Banking and Mortgage Banking. Community Banking serves consumers and businesses with deposit accounts, portfolio lending, business credit, commercial real estate construction loans and personal investment services.
Geography is split between a local bank and a wider mortgage channel: WaterStone Bank is concentrated in southeastern Wisconsin, while Waterstone Mortgage Corporation originates residential mortgages through offices across multiple states, primarily for sale into the secondary market.
The model depends on disciplined deposit gathering, credit underwriting and loan pricing inside a regulated bank framework. Mortgage Banking is shaped by housing affordability, purchase and refinance volume, secondary-market sale economics and competition from banks, credit unions and mortgage originators.
Company facts
No analyst consensus on record.
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $275.5M · Total debt $412.0M · Total assets $2.25B · Shareholders' equity $351.1M
- Revenue
- $7.3M
- Operating income
- −$7.6M
- Net income
- $8.5M
HistoryDividendAnnual yield
| Institutions | ≈ 55.09% | 9.90M shares | |
|---|---|---|---|
| 124 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 4.03% | 724.0K shares | |
| 9 holders · as of Aug 17, 2026 | |||
| Other | ≈ 40.88% | 7.35M shares | |
| remainder | |||
17.98M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 9.13% | 1.64M | as of Jun 30, 2026 |
Dimensional Fund Advisors LPInstitution | 7.89% | 1.42M | as of Jun 30, 2026 |
Renaissance Technologies LLCInstitution | 5.85% | 1.05M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 3.57% | 641,005 | as of Jun 30, 2026 |
Douglas S. GordonInsiderdirector | 3.10% | 556,773 | filed Feb 20, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 13, 2026 | Ryan J. Gordon | officer: EVP/Chief Credit Officer | −8,157 | $21.14 |
| May 21, 2026 | Mark Raymond Gerke | officer: EVP/Chief Financial Officer | −10,000 | $18.34 |
| Feb 18, 2026 | Douglas S. Gordon | director | −2,880 | $18.11 |
| Feb 6, 2026 | Douglas S. Gordon | director | −6,765 | $18.27 |
| Feb 5, 2026 | Douglas S. Gordon | director | −18,716 | $18.25 |
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- UWM
Wholesale mortgage leader competing for brokered purchase loans
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Waterstone Financial | $20.80 | +0.29% | $373.5M | 12.0 | 8.8 | 2.3 | −80.4% |
| Associated Banc-Corp | $29.03 | +0.05% | $5.54B | 10.3 | 9.2 | 2.2 | +22.7% |
| Wintrust Financial | $144.70 | +0.02% | $9.92B | 11.7 | 10.9 | 2.3 | +10.1% |
| Nicolet Bankshares | $165.65 | −0.08% | $2.86B | 18.4 | 12.9 | 5.5 | +227.9% |
| Old National Bancorp | $25.03 | +0.02% | $9.66B | 11.1 | 9.2 | 2.4 | +12.3% |
| Bank First | $150.83 | −0.18% | $1.70B | 19.7 | 14.0 | 5.8 | +60.0% |
| Rocket Companies | $12.74 | +0.16% | $34.90B | 84.7 | 17.8 | 3.6 | +113.7% |
| First Business Financial Services | $70.24 | 0.00% | $594.6M | 10.7 | 10.6 | 2.1 | +13.8% |
| UWM | $1.26 | −0.40% | $1.91B | — | 4.9 | 0.6 | −78.6% |
| Median | 11.7 | 10.7 | 2.3 | +18.3% |