Waterstone Financial (NASDAQ:WSBF) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Waterstone Financial (NASDAQ:WSBF) from a hold rating to a buy rating in a report released on Saturday, Zacks.com reports. They currently have $17.00 price target on the savings and loans company’s stock.

According to Zacks, “Waterstone Mortgage Corp. is committed to providing customers with exceptional customer service. By providing clients with sound, expert advice as to the many different loan programs and options available, we hope to take some of the mystery out of mortgage financing. For most people, a mortgage loan is the largest financial transaction they will ever make. Waterstone’s expert loan consultants are able to walk you through the mortgage process and put your mind at ease during the application and approval process. “

Other research analysts have also recently issued research reports about the company. ValuEngine cut Waterstone Financial from a sell rating to a strong sell rating in a research note on Tuesday, July 28th. BidaskClub upgraded Waterstone Financial from a sell rating to a hold rating in a research note on Friday. Finally, Piper Sandler boosted their price target on Waterstone Financial from $16.00 to $17.00 and gave the stock an overweight rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $17.83.

Shares of WSBF traded down $0.24 during midday trading on Friday, reaching $15.28. 93,980 shares of the company were exchanged, compared to its average volume of 90,418. The stock has a 50-day moving average price of $14.28 and a 200-day moving average price of $15.23. The company has a market cap of $395.98 million, a price-to-earnings ratio of 8.13 and a beta of 0.23. Waterstone Financial has a 1-year low of $12.10 and a 1-year high of $19.48. The company has a current ratio of 1.58, a quick ratio of 1.34 and a debt-to-equity ratio of 1.40.

Waterstone Financial (NASDAQ:WSBF) last issued its quarterly earnings data on Monday, July 27th. The savings and loans company reported $0.85 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.49. Waterstone Financial had a return on equity of 12.37% and a net margin of 19.04%. The company had revenue of $80.15 million for the quarter, compared to analysts’ expectations of $59.10 million. Equities research analysts anticipate that Waterstone Financial will post 1.93 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Monday, July 13th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.14%. The ex-dividend date is Friday, July 10th. Waterstone Financial’s dividend payout ratio is currently 35.04%.

Institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC bought a new stake in Waterstone Financial in the first quarter valued at about $28,000. Altshuler Shaham Ltd bought a new stake in Waterstone Financial in the first quarter valued at about $33,000. Advisor Group Holdings Inc. bought a new stake in Waterstone Financial in the first quarter valued at about $34,000. US Bancorp DE increased its holdings in Waterstone Financial by 3,055.6% in the first quarter. US Bancorp DE now owns 3,913 shares of the savings and loans company’s stock valued at $57,000 after buying an additional 3,789 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Waterstone Financial by 136.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,302 shares of the savings and loans company’s stock valued at $92,000 after buying an additional 3,632 shares during the last quarter. 61.41% of the stock is owned by hedge funds and other institutional investors.

About Waterstone Financial

Waterstone Financial, Inc operates as a bank holding company for WaterStone Bank SSB that provides various financial services to customers in southeastern Wisconsin, the United States. It operates through two segments, Community Banking and Mortgage Banking. The Community Banking segment offers consumer and business banking products and services, such as deposit and transactional solutions, including checking accounts, online banking and bill pay services, and money transfer services, as well as credit, debit, and pre-paid cards; investable funds solutions comprising savings, money market deposit, and individual retirement accounts, as well as certificates of deposit; lending solutions consisting of residential mortgages, home equity loans and lines of credit, personal and installment loans, real estate financing, business loans, and business lines of credit; and fixed and variable annuities, and insurance products, as well as trust and investment management accounts.

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