Waterstone Financial (WSBF) Raised to “Buy” at BidaskClub

BidaskClub upgraded shares of Waterstone Financial (NASDAQ:WSBF) from a hold rating to a buy rating in a research note released on Friday morning.

A number of other brokerages have also recently weighed in on WSBF. ValuEngine cut shares of Waterstone Financial from a hold rating to a sell rating in a research report on Tuesday, October 2nd. UBS Group reiterated a sell rating and set a $12.75 price target on shares of Waterstone Financial in a research report on Thursday, August 9th.

Shares of WSBF opened at $16.41 on Friday. Waterstone Financial has a 1-year low of $16.25 and a 1-year high of $20.05. The stock has a market cap of $502.58 million, a price-to-earnings ratio of 16.18 and a beta of 0.06. The company has a quick ratio of 1.41, a current ratio of 1.56 and a debt-to-equity ratio of 1.07.

Waterstone Financial (NASDAQ:WSBF) last announced its quarterly earnings results on Tuesday, July 31st. The savings and loans company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. Waterstone Financial had a net margin of 14.16% and a return on equity of 7.28%. The business had revenue of $47.04 million during the quarter.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 2nd. Shareholders of record on Friday, October 12th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Thursday, October 11th.

In related news, Director Ellen Syburg Bartel sold 7,734 shares of Waterstone Financial stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $17.01, for a total value of $131,555.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric J. Egenhoefer sold 25,449 shares of Waterstone Financial stock in a transaction that occurred on Thursday, August 9th. The shares were sold at an average price of $17.00, for a total transaction of $432,633.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,734 shares of company stock valued at $862,555. Company insiders own 12.00% of the company’s stock.

Several hedge funds have recently made changes to their positions in WSBF. Principal Financial Group Inc. acquired a new position in shares of Waterstone Financial in the first quarter valued at approximately $183,000. Barclays PLC grew its holdings in shares of Waterstone Financial by 141.3% in the first quarter. Barclays PLC now owns 10,810 shares of the savings and loans company’s stock valued at $187,000 after purchasing an additional 6,331 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Waterstone Financial by 41.9% in the second quarter. Millennium Management LLC now owns 32,290 shares of the savings and loans company’s stock valued at $551,000 after purchasing an additional 9,534 shares in the last quarter. California Public Employees Retirement System grew its holdings in shares of Waterstone Financial by 35.7% in the first quarter. California Public Employees Retirement System now owns 49,264 shares of the savings and loans company’s stock valued at $852,000 after purchasing an additional 12,963 shares in the last quarter. Finally, RMB Capital Management LLC grew its holdings in shares of Waterstone Financial by 21.9% in the first quarter. RMB Capital Management LLC now owns 51,114 shares of the savings and loans company’s stock valued at $884,000 after purchasing an additional 9,179 shares in the last quarter. Hedge funds and other institutional investors own 58.98% of the company’s stock.

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 provides 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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