Seeking Alpha
19 Jan 2026, 09:53 UTC · 40w ago
WaFd Looks Cheap For A Reason, And That's Why I'm Interested
Impact · against what's priced in
WAFD faces significant headwinds as deteriorating credit quality in office CRE, manufacturing, and energy sectors likely necessitates higher loan loss provisions. The quality of Q1 net income is weak, as it was bolstered by one-time property sale gains rather than core operational strength.
- WAFD−0.40
No priced-in read yet
- In context
Rising nonperforming assets in sensitive sectors like office CRE and manufacturing, combined with margin pressure from higher funding costs, undermine the bank's core earnings power despite a positive Q1 net income of $60.5M.
Read from the article alone
