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WaFd (WAFD) completes the divestiture of its CRE loan portfolio. The sale bolsters the company's liquidity profile amid the high interest rate regime.
SEATTLE--(BUSINESS WIRE)---- $wafd #wafdbank--Washington Federal Bank ("WaFd Bank" or the "Bank"), the wholly owned subsidiary of WaFd, Inc. (Nasdaq: WAFD) (the "Company"), today announced the consummation of the sale of approximately $2.8 billion of multifamily commercial real estate loans (“CRE”) to Bank of America, which in turn is selling the loans to funds managed by Pacific Investment Management Company LLC (“PIMCO”). To our knowledge, this represents the largest non-FDIC assisted CRE loan sale ever. The sal.
WaFd (WAFD) reported earnings 30 days ago. What's next for the stock?
WaFd (WAFD) is selling 2,000 commercial multi-family real estate loans to Bank of America for $2.9 billion.
Washington Federal Bank, a wholly owned subsidiary of WaFd, has disclosed its agreement to sell some commercial multi-family real estate loans to Bank of America for about $2.9 billion.
Washington Federal Bank, a wholly owned subsidiary of WaFd, has disclosed its agreement to sell some commercial multi-family real estate loans to Bank of America for about $2.9 billion.
The Bank of America Corporation (BofA) is set to purchase Washington Federal Bank's portfolio of commercial multi-family real estate loans, valued at $3.2 billion. The announcement was made by Washington Federal, Inc. (WaFd), the parent company of Washington Federal Bank, in a regulatory filing on Friday.
WAFD announces a new share repurchase plan. Under this, it is authorized to buy back up to 10 million shares.
High rates, steady loan demand, the buyout of Luther Burbank, a robust balance sheet and decent liquidity are likely to support WAFD, while poor asset quality and elevated expenses remain woes.
WaFd's (WAFD) fiscal second-quarter earnings beat estimates on the back of higher revenues and loan balance. However, high costs and provisions turn out to be headwinds.