US bank WaFd jumps after Q2 profit beats estimates

WaFd

14/04/2025 19:22

** Regional lender WaFd's WAFD.O shares jump 7% to $26.23

** WAFD late Friday reported Q2 profit above Wall Street expectations, after missing estimates in the previous quarter

** Brokerage Stephens reiterates "equal-weight" rating, says Q2 fee income levels were modestly elevated and it is likely to normalize lower

** WAFD is pivoting to commercial banking as it focuses on higher-margin business lines

** CEO Brent Beardall says bank is off to a good start on the shift toward business banking

** All four brokerages covering the stock rate it "hold"; median PT $30, per data compiled by LSEG

** WAFD's shares down 18.5% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com))