WaFd, Inc. (WAFD) Stock Price & How to Invest

WaFd, Inc. is the parent of WaFd Bank, a Washington state-chartered commercial bank founded in 1917 and headquartered in Seattle. The bank gathers consumer and commercial deposits and lends against residential mortgages, commercial real estate, and small-to-middle-market businesses, holding much of that credit on its own balance sheet as a portfolio lender. After completing the roughly $654 million all-stock acquisition of California-based Luther Burbank Savings in February 2024, WaFd operated across nine western states with total assets of about $27.6 billion, net loans near $20.0 billion, and customer deposits around $21.1 billion (as of March 2026).

The investment picture is that of a traditional spread lender: WaFd earns most of its money from the gap between what it pays on deposits and what it collects on loans, so its results track net interest margin, loan growth, and credit costs. In its quarter ended March 2026 the bank returned to overall loan growth after more than a year of contraction, expanded net interest margin to about 2.81%, and kept credit losses very low, while buying back shares and paying a quarterly dividend. The stock trades at a low-double-digit price-to-earnings multiple and near tangible book value, reflecting a market that prices it as a steady, capital-returning regional bank exposed to interest rates and western real estate rather than a high-growth name.

As a spread lender, WaFd is highly sensitive to interest rates and the shape of the yield curve, which can compress margins and depress deposit-funding economics. Its concentration in western-US residential and commercial real estate exposes it to regional property downturns and to office and multifamily credit stress. Deposit competition and any renewed flight to higher-yielding alternatives could raise funding costs, and integration risk from the Luther Burbank deal remains. Being a smaller regional bank, it also carries the sector-wide risks highlighted since 2023, including deposit-confidence shocks and tighter regulatory capital and liquidity expectations.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see WaFd, Inc.'s investor relations page or your broker.

• Market cap: ~$2.8B
• Revenue (TTM): ~$751M
• Net income (TTM): ~$238M
• EPS (TTM): ~$3.05
• P/E ratio: ~12x
• Dividend yield: ~2.85%

WaFd trades at a low-double-digit price-to-earnings multiple and near its tangible book value of about $29.91 per share (as of December 2025), a typical valuation for a steady regional bank. Total assets were about $27.6 billion with net loans near $20.0 billion and deposits around $21.1 billion as of March 2026. The quarterly dividend of $0.27 per share (about $1.08 annualized) reflects the bank's capital-return posture alongside ongoing buybacks.

There are three common ways to get WAFD exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so WAFD sits alongside other stocks that express the same thesis.

Walnut takes the basket route. Describe a thesis where WAFD fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

WAFD is a conservative western-US regional bank whose case rests on stable margins, credit quality, and a modest valuation near book value, not rapid growth.

Whether WAFD is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is WAFD a buy?, and where the stock could go from here in the WAFD stock forecast.

For income investors, whether WAFD pays a dividend and how the payout looks is covered in does WAFD pay a dividend?