We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
WaFd Rewards Shareholders With a 3.8% Dividend Increase
Read MoreHide Full Article
WaFd, Inc. (WAFD - Free Report) hiked its quarterly cash dividend by 3.8% to 27 cents per share. The dividend will be paid out on March 7, 2025, to its shareholders of record as of Feb. 21.
Before the recent hike, the bank increased its dividend by 4% to 26 cents per share in February 2024. WaFd has raised its dividend four times in the past five years with a growth rate of 4.1%. It has a dividend payout ratio of 37%.
Based on its closing price of $30.69 as of Feb. 11, WAFD’s forward dividend yield, considering the increased payout, is 3.5%.
WAFD’s Other Capital Distribution Activities
WaFd has an ongoing repurchase program that was extended in May 2024. This increased the authorization by 10 million shares with no expiration date. The company announced the program in 1995, and since then, it has been extended numerous times. As of Dec. 31, 2024, roughly 11.5 million shares remained available under the current authorization.
Before that, WAFD had extended its repurchase plan in January 2021 to buy back up to an additional 10 million shares.
Our Take on WAFD Stock
WAFD enjoys a decent balance sheet position. As of Dec. 31, 2024, total borrowings were $2.9 billion, and cash and cash equivalents were $1.5 billion. Net loans receivable were $21.1 billion, and total deposits were $2.9 billion.
Further, at the end of the fourth quarter of 2024, its common equity Tier-1 capital ratio of 11.45% and the total capital ratio of 14.43% were well above regulatory requirements.
Given the decent capital and liquidity positions, WaFd is expected to sustain its current capital distribution activities and enhance shareholder value.
Shares of WaFd have risen 12.6% compared with the industry’s 35.6% growth in the past year.
Earlier this month, Hancock Whitney Corp. (HWC - Free Report) hiked its quarterly cash dividend by 12.5% to 45 cents per share. The dividend will be paid out on March 17, 2025, to shareholders of record as of March 5.
Before the recent hike, HWC had increased its dividend by 33.3% to 40 cents per share in April 2024. Hancock Whitney has raised its dividend thrice in the past five years with a growth rate of 7.5%. It has a dividend payout ratio of 30%.
Similarly, last month, Bank OZK (OZK - Free Report) hiked its quarterly cash dividend by 2.4% to 42 cents per share. The dividend was paid out on Jan. 21, 2025, to shareholders of record as of Jan. 14.
OZK has hiked its quarterly cash dividend in each of the last 58 quarters. Before the recent hike, the bank had increased its dividend by 2.5% to 41 cents per share in October 2024.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Shutterstock
WaFd Rewards Shareholders With a 3.8% Dividend Increase
WaFd, Inc. (WAFD - Free Report) hiked its quarterly cash dividend by 3.8% to 27 cents per share. The dividend will be paid out on March 7, 2025, to its shareholders of record as of Feb. 21.
Before the recent hike, the bank increased its dividend by 4% to 26 cents per share in February 2024. WaFd has raised its dividend four times in the past five years with a growth rate of 4.1%. It has a dividend payout ratio of 37%.
Based on its closing price of $30.69 as of Feb. 11, WAFD’s forward dividend yield, considering the increased payout, is 3.5%.
WAFD’s Other Capital Distribution Activities
WaFd has an ongoing repurchase program that was extended in May 2024. This increased the authorization by 10 million shares with no expiration date. The company announced the program in 1995, and since then, it has been extended numerous times. As of Dec. 31, 2024, roughly 11.5 million shares remained available under the current authorization.
Before that, WAFD had extended its repurchase plan in January 2021 to buy back up to an additional 10 million shares.
Our Take on WAFD Stock
WAFD enjoys a decent balance sheet position. As of Dec. 31, 2024, total borrowings were $2.9 billion, and cash and cash equivalents were $1.5 billion. Net loans receivable were $21.1 billion, and total deposits were $2.9 billion.
Further, at the end of the fourth quarter of 2024, its common equity Tier-1 capital ratio of 11.45% and the total capital ratio of 14.43% were well above regulatory requirements.
Given the decent capital and liquidity positions, WaFd is expected to sustain its current capital distribution activities and enhance shareholder value.
Shares of WaFd have risen 12.6% compared with the industry’s 35.6% growth in the past year.
Image Source: Zacks Investment Research
WAFD currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Banks That Announced Dividend Hike
Earlier this month, Hancock Whitney Corp. (HWC - Free Report) hiked its quarterly cash dividend by 12.5% to 45 cents per share. The dividend will be paid out on March 17, 2025, to shareholders of record as of March 5.
Before the recent hike, HWC had increased its dividend by 33.3% to 40 cents per share in April 2024. Hancock Whitney has raised its dividend thrice in the past five years with a growth rate of 7.5%. It has a dividend payout ratio of 30%.
Similarly, last month, Bank OZK (OZK - Free Report) hiked its quarterly cash dividend by 2.4% to 42 cents per share. The dividend was paid out on Jan. 21, 2025, to shareholders of record as of Jan. 14.
OZK has hiked its quarterly cash dividend in each of the last 58 quarters. Before the recent hike, the bank had increased its dividend by 2.5% to 41 cents per share in October 2024.