Waterstone Financial (WSBF)
Market Price (6/7/2026): $18.76 | Market Cap: $325.9 MilSector: Financials | Industry: Regional Banks
Waterstone Financial (WSBF)
Market Price (6/7/2026): $18.76Market Cap: $325.9 MilSector: FinancialsIndustry: Regional Banks
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 12%, Dividend Yield is 3.3%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 8.1% Low stock price volatilityVol 12M is 23% Megatrend and thematic driversMegatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, and Digital Payments. | Trading close to highsDist 52W High is 0.0%, Dist 3Y High is 0.0% Weak multi-year price returns3Y Excs Rtn is -17% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 60% Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.3% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -2.2%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -3.5% Key risksWSBF key risks include [1] margin compression from a shift to higher-cost deposits and [2] vulnerability to intense competition due to limited resources and an "antiquated website." |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 12%, Dividend Yield is 3.3%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 8.1% |
| Low stock price volatilityVol 12M is 23% |
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, and Digital Payments. |
| Trading close to highsDist 52W High is 0.0%, Dist 3Y High is 0.0% |
| Weak multi-year price returns3Y Excs Rtn is -17% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 60% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.3% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -2.2%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -3.5% |
| Key risksWSBF key risks include [1] margin compression from a shift to higher-cost deposits and [2] vulnerability to intense competition due to limited resources and an "antiquated website." |
Qualitative Assessment
AI Analysis | Feedback
Waterstone Financial (WSBF) stock has gained about 5% since 2/28/2026 because of the following key factors:
1. Strong First Quarter 2026 Financial Performance.
Waterstone Financial reported a significant increase in net income to $6.0 million, or $0.34 per diluted share, for the first quarter ended March 31, 2026, compared to $3.0 million, or $0.17 per diluted share, for the same period in the prior year. This substantial improvement in earnings was driven by a 23% year-over-year increase in net interest income, reaching $15.5 million, and an improved net interest margin of 2.97% from 2.47%. The Mortgage Banking segment also contributed significantly, with income rising 20.5% to $19.0 million, fueled by a 31% increase in loan origination volume.
2. Enhanced Shareholder Returns.
The company demonstrated a commitment to returning value to shareholders during the period. Waterstone Financial raised its quarterly cash dividend by 13.3% on March 17, 2026, to $0.17 per share. Additionally, during the first quarter of 2026, the company repurchased approximately 246,000 shares at a cost of $4.4 million, at an average price of $17.89 per share. The company also announced an expansion of its share repurchase program on April 27, 2026.
Show more
Stock Movement Drivers
Fundamental Drivers
The 6.4% change in WSBF stock from 2/28/2026 to 6/6/2026 was primarily driven by a 6.7% change in the company's Net Income Margin (%).| (LTM values as of) | 2282026 | 6062026 | Change |
|---|---|---|---|
| Stock Price ($) | 17.64 | 18.78 | 6.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 139 | 145 | 4.3% |
| Net Income Margin (%) | 19.0% | 20.3% | 6.7% |
| P/E Multiple | 11.7 | 11.1 | -4.8% |
| Shares Outstanding (Mil) | 17 | 17 | 0.5% |
| Cumulative Contribution | 6.4% |
Market Drivers
2/28/2026 to 6/6/2026| Return | Correlation | |
|---|---|---|
| WSBF | 6.4% | |
| Market (SPY) | 7.8% | 24.9% |
| Sector (XLF) | 2.2% | 31.6% |
Fundamental Drivers
The 22.1% change in WSBF stock from 11/30/2025 to 6/6/2026 was primarily driven by a 13.4% change in the company's Net Income Margin (%).| (LTM values as of) | 11302025 | 6062026 | Change |
|---|---|---|---|
| Stock Price ($) | 15.38 | 18.78 | 22.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 134 | 145 | 8.3% |
| Net Income Margin (%) | 17.9% | 20.3% | 13.4% |
| P/E Multiple | 11.3 | 11.1 | -2.1% |
| Shares Outstanding (Mil) | 18 | 17 | 1.5% |
| Cumulative Contribution | 22.1% |
Market Drivers
11/30/2025 to 6/6/2026| Return | Correlation | |
|---|---|---|
| WSBF | 22.1% | |
| Market (SPY) | 8.5% | 18.2% |
| Sector (XLF) | -1.1% | 38.1% |
Fundamental Drivers
The 51.1% change in WSBF stock from 5/31/2025 to 6/6/2026 was primarily driven by a 40.8% change in the company's Net Income Margin (%).| (LTM values as of) | 5312025 | 6062026 | Change |
|---|---|---|---|
| Stock Price ($) | 12.43 | 18.78 | 51.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 130 | 145 | 11.6% |
| Net Income Margin (%) | 14.4% | 20.3% | 40.8% |
| P/E Multiple | 12.1 | 11.1 | -8.5% |
| Shares Outstanding (Mil) | 18 | 17 | 5.1% |
| Cumulative Contribution | 51.1% |
Market Drivers
5/31/2025 to 6/6/2026| Return | Correlation | |
|---|---|---|
| WSBF | 51.1% | |
| Market (SPY) | 26.6% | 28.9% |
| Sector (XLF) | 4.2% | 42.6% |
Fundamental Drivers
The 59.4% change in WSBF stock from 5/31/2023 to 6/6/2026 was primarily driven by a 84.6% change in the company's Net Income Margin (%).| (LTM values as of) | 5312023 | 6062026 | Change |
|---|---|---|---|
| Stock Price ($) | 11.78 | 18.78 | 59.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 149 | 145 | -2.7% |
| Net Income Margin (%) | 11.0% | 20.3% | 84.6% |
| P/E Multiple | 15.1 | 11.1 | -26.2% |
| Shares Outstanding (Mil) | 21 | 17 | 20.2% |
| Cumulative Contribution | 59.4% |
Market Drivers
5/31/2023 to 6/6/2026| Return | Correlation | |
|---|---|---|
| WSBF | 59.4% | |
| Market (SPY) | 83.4% | 33.3% |
| Sector (XLF) | 72.8% | 48.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| WSBF Return | 24% | -16% | -13% | -1% | 29% | 14% | 33% |
| Peers Return | 32% | -5% | 5% | 19% | 9% | 12% | 91% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 11% | 102% |
Monthly Win Rates [3] | |||||||
| WSBF Win Rate | 83% | 33% | 33% | 50% | 67% | 83% | |
| Peers Win Rate | 72% | 40% | 48% | 50% | 55% | 67% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 67% | |
Max Drawdowns [4] | |||||||
| WSBF Max Drawdown | -7% | -26% | -41% | -24% | -19% | -7% | |
| Peers Max Drawdown | -19% | -27% | -35% | -15% | -25% | -15% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: ASB, WTFC, ONB, FMBH, BUSE.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/5/2026 (YTD)
How Low Can It Go
| Event | WSBF | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -18.2% | -18.8% |
| % Gain to Breakeven | 22.2% | 23.1% |
| Time to Breakeven | 125 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -32.3% | -9.5% |
| % Gain to Breakeven | 47.7% | 10.5% |
| Time to Breakeven | 65 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -17.2% | -6.7% |
| % Gain to Breakeven | 20.8% | 7.1% |
| Time to Breakeven | 429 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -24.0% | -24.5% |
| % Gain to Breakeven | 31.6% | 32.4% |
| Time to Breakeven | 1363 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -28.0% | -33.7% |
| % Gain to Breakeven | 38.8% | 50.9% |
| Time to Breakeven | 184 days | 140 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -19.2% | -15.4% |
| % Gain to Breakeven | 23.7% | 18.2% |
| Time to Breakeven | 7 days | 125 days |
In The Past
Waterstone Financial's stock fell -18.2% during the 2025 US Tariff Shock. Such a loss loss requires a 22.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | WSBF | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -32.3% | -9.5% |
| % Gain to Breakeven | 47.7% | 10.5% |
| Time to Breakeven | 65 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -24.0% | -24.5% |
| % Gain to Breakeven | 31.6% | 32.4% |
| Time to Breakeven | 1363 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -28.0% | -33.7% |
| % Gain to Breakeven | 38.8% | 50.9% |
| Time to Breakeven | 184 days | 140 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -87.2% | -53.4% |
| % Gain to Breakeven | 678.2% | 114.4% |
| Time to Breakeven | 2461 days | 1085 days |
In The Past
Waterstone Financial's stock fell -18.2% during the 2025 US Tariff Shock. Such a loss loss requires a 22.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Waterstone Financial (WSBF)
AI Analysis | Feedback
Here are 1-2 brief analogies for Waterstone Financial (WSBF):
- Like a smaller, regional Bank of America for southeastern Wisconsin.
- Imagine a local branch of Chase Bank, but operating as an independent company primarily focused on community banking services in specific Wisconsin neighborhoods.
AI Analysis | Feedback
- Deposit & Transactional Services: Provides checking, savings, money market, and certificate of deposit accounts, along with credit, debit, pre-paid cards, online banking, bill pay, and money transfer services.
- Lending Services: Offers residential mortgages, home equity loans and lines of credit, personal and installment loans, business loans, business lines of credit, and real estate financing.
- Investment & Wealth Management Services: Includes IRA accounts, fixed and variable annuities, insurance products, trust and investment management accounts.
- Mortgage Banking for Secondary Market: Originates residential mortgage loans with the primary intent of selling them on the secondary market.
AI Analysis | Feedback
```htmlWaterstone Financial (WSBF) primarily sells its financial products and services to individuals and businesses. Based on the company description, its major customer categories are:
- Individual Consumers: This category includes individuals who utilize the bank's community banking services such as checking, savings, credit/debit cards, online banking, residential mortgages, home equity loans, personal and installment loans, IRA accounts, certificates of deposit, annuities, and insurance products.
- Businesses: This category encompasses businesses (likely small to medium-sized within its service area of southeastern Wisconsin) that use the bank's services for deposit and transactional solutions, business loans, business lines of credit, and real estate financing.
AI Analysis | Feedback
nullAI Analysis | Feedback
William F. Bruss, President and CEO
William F. Bruss serves as the President and CEO of Waterstone Financial, Inc. and WaterStone Bank. He joined the company in 1997 as General Counsel. Over the years, he advanced through various roles, becoming Senior Vice President in 2006, Chief Operating Officer in 2013, and President in 2022, before assuming his current role as CEO in 2024. Prior to joining Waterstone, Mr. Bruss spent three years in private legal practice, where he also represented WaterStone Bank in various legal matters.
Mark R. Gerke, Executive Vice President and Chief Financial Officer
Mark R. Gerke is the Executive Vice President and Chief Financial Officer of Waterstone Financial, Inc. and WaterStone Bank. He started at WaterStone Bank in 2005 as Corporate Controller. In 2014, he was promoted to Vice President, Controller, and Principal Accounting Officer of the holding company, and in 2016, he became Senior Vice President and Chief Financial Officer. Before joining Waterstone, Mr. Gerke worked at Ernst & Young LLP, a global professional services firm, where he served as a Senior Manager in Assurance Services.
Jeffrey R. McGuiness, Chief Executive Officer and President of Waterstone Mortgage Corporation
Jeffrey R. McGuiness holds the position of Chief Executive Officer and President of Waterstone Mortgage Corporation. Waterstone Mortgage Corporation is a key part of Waterstone Financial's Mortgage Banking segment, which focuses on originating residential mortgage loans primarily for sale on the secondary market.
Julie Ann Glynn, Senior Vice President and Director, Retail Banking
Julie Ann Glynn is the Senior Vice President and Director of Retail Banking at WaterStone Bank. She joined the Bank in 2018, bringing with her over 30 years of leadership experience in retail banking. In her role, she guides the Bank's retail banking initiatives as its Chief Retail Officer.
Ryan J. Gordon, Executive Vice President and Chief Credit Officer
Ryan J. Gordon serves as the Executive Vice President and Chief Credit Officer of WaterStone Bank. He began his career with the Bank in 2008, focusing on credit administration, and was appointed Chief Credit Officer in 2018. Mr. Gordon also chairs the Officer Loan Committee and is a member of the Executive Committee and the board of directors of Waterstone Mortgage Corporation.
AI Analysis | Feedback
The key risks to Waterstone Financial (WSBF) primarily stem from the challenging interest rate environment, headwinds in the mortgage banking sector, and potential vulnerabilities within its loan portfolio, particularly commercial real estate.
- Interest Rate Risk and Margin Compression: Waterstone Financial's Community Banking segment faces ongoing challenges from margin compression due to elevated funding costs as interest rates remain high. The net interest margin has decreased, driven by an increase in the weighted average cost of deposits and borrowings as federal funds rate increases led to higher funding rates. As a bank, Waterstone Financial is inherently exposed to fluctuations in interest rates, which can impact both the cost of funds and the yields on assets, threatening future income.
- Mortgage Banking Industry Headwinds: The company's Mortgage Banking segment continues to experience industry-wide challenges, including low levels of housing inventory and affordability constraints, largely driven by elevated mortgage rates. High interest rates can reduce the willingness and ability of potential homebuyers to finance real estate loans, which can adversely affect a bank that relies on a minimum level of loan originations to maintain profitability.
- Credit Risk, particularly Commercial Real Estate (CRE) Exposure: While Waterstone Financial reported low non-accrual loans and strong asset quality at the end of 2025, its loan portfolio includes a significant concentration in commercial real estate (19.5%). The broader banking industry has seen deterioration in certain commercial real estate portfolios, with office properties underperforming and high interest rates inhibiting refinancing. Rising borrowing costs, elevated vacancy rates, and slower rent growth can weaken property-level cash flows, posing a potential credit risk for banks with substantial CRE exposure.
AI Analysis | Feedback
Clear Emerging Threats for Waterstone Financial (WSBF)
- Competition from Digital-First Banks and Fintech Platforms: The rise of entirely digital banks (neobanks) and specialized fintech companies offering banking services, deposits, and various lending solutions directly threatens Waterstone Financial's Community Banking segment. These competitors often boast lower overhead, superior digital user experiences, and can offer more competitive rates or lower fees, attracting customers away from traditional branch-based banks and eroding Waterstone Financial's deposit base and loan origination opportunities. This parallels the disruption Netflix brought to Blockbuster by offering a fundamentally different and often more convenient service model.
- Disruption in Mortgage Origination by Online Lenders: Waterstone Financial's Mortgage Banking segment, which originates residential mortgage loans, faces a significant threat from large, technologically advanced online mortgage lenders. Companies like Rocket Mortgage have streamlined the mortgage application and approval process, offering speed, convenience, and often competitive pricing through purely digital channels. This model bypasses the need for physical loan offices and traditional processes, making it challenging for Waterstone Financial to compete effectively for market share in mortgage originations, similar to how Uber disrupted traditional taxi services with a more convenient and often more efficient digital platform.
AI Analysis | Feedback
Waterstone Financial, Inc. (WSBF) operates in two primary segments: Community Banking and Mortgage Banking, serving customers primarily in southeastern Wisconsin, with a mortgage loan production office in Minneapolis, Minnesota.
Mortgage Banking Segment
The addressable market for Waterstone Financial's residential mortgage loans is substantial in its key operating regions:
- Milwaukee-Waukesha, WI Metropolitan Statistical Area (MSA): The projected total volume for combined purchase and refinance loans in 2026 is estimated at $9.42 billion. The total dollar volume for purchase and refinance originations in this market is forecast to grow from $5.4 billion in 2023 to $9.4 billion by 2027.
- Minneapolis-St. Paul-Bloomington, MN-WI Metropolitan Statistical Area (MSA): Projections for 2026 indicate an addressable market of 82,355 combined purchase and refinance loans, totaling $25.68 billion in volume, with an average loan size of $311,798. The total dollar volume for purchase and refinance originations in Minneapolis is forecast to increase from $16.6 billion in 2023 to $26.2 billion by 2027.
Community Banking Segment
Waterstone Financial's Community Banking segment offers a range of consumer and business banking products, including deposit and transactional solutions, various lending solutions (residential mortgages are covered above, but also home equity, personal, real estate, and business loans), and investable funds solutions. The company operates 11 full-service banking offices in Milwaukee, Washington, and Waukesha counties, Wisconsin.
While specific addressable market sizes for each individual community banking product (such as checking accounts, specific types of personal loans, or individual investment products) at the precise county level (Milwaukee, Washington, and Waukesha counties) are not readily available in a comprehensive manner, broad market indicators for Wisconsin's banking sector provide context:
- Total Deposits (Wisconsin): As of the first quarter of 2025, total deposits for all FDIC-insured institutions in Wisconsin amounted to approximately $129.73 billion. Waterstone Bank, SSB, itself held $1.427 billion in deposits in Wisconsin as of 2025.
- Total Loans (Wisconsin): Net loans for Wisconsin's state-chartered banks reached $53.7 billion by year-end 2025.
Due to the highly localized and diverse nature of community banking products beyond deposits and general lending, and the lack of publicly available, aggregated market size data for these specific products within Waterstone Financial's exact operating counties, it is not possible to provide precise addressable market sizes for each individual product within the Community Banking segment for their specific regional footprint.
AI Analysis | Feedback
Waterstone Financial, Inc. (WSBF) anticipates several key drivers for its revenue growth over the next two to three years:
- Deposit Growth: Management has identified strong deposit growth as a crucial factor for the company's continued performance. This growth in deposits provides a stable funding base for the bank's lending activities.
- Net Interest Margin Improvement: An improved net interest margin (NIM) is expected to be a significant driver for enhanced financial performance. A higher NIM indicates a more profitable spread between the interest earned on assets and the interest paid on liabilities, directly boosting net interest income.
- Increased Refinance Activity in Mortgage Banking: The company's Mortgage Banking segment is projected to benefit from an increase in refinance activity, particularly if interest rates remain favorable. This would lead to higher loan origination volumes and associated fees.
- Growth in Community Banking Lending Portfolio: Supported by strong asset quality, Waterstone Financial is positioned for continued growth within its diverse lending solutions offered through its Community Banking segment. These solutions include residential mortgages, home equity loans and lines of credit, personal and installment loans, real estate financing, business loans, and business lines of credit, all of which contribute to interest income.
AI Analysis | Feedback
Share Repurchases
- On April 23, 2024, Waterstone Financial, Inc. authorized the repurchase of up to an additional 2,000,000 shares, adding to the 224,852 shares remaining from a previous program, bringing the total authorized for repurchase to 2,224,852 shares, which was approximately 11.2% of its outstanding common stock.
- In May 2023, the board of directors approved a share repurchase plan to buy back up to 2 million shares, representing approximately 9.3% of its outstanding shares.
- Under a prior authorization announced in the fourth quarter of 2021, the company repurchased 3.5 million shares at an average price of $17.25 per share.
Share Issuance
- The number of outstanding shares for Waterstone Financial generally decreased between 2021 and 2025 due to share buybacks, with 17.63 million shares outstanding at the end of 2025.
Capital Expenditures
- In the last 12 months (as of March 2026), Waterstone Financial reported capital expenditures of -$1.17 million.
- For the fiscal quarter ending September 2024, capital expenditures were reflected in $2.6 million of free cash flow, which is cash available after these expenditures.
- Between September 2023 and March 2024, capital expenditures were ($619.0K), representing a 43.7% year-over-year decrease.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| How Low Can Waterstone Financial Stock Really Go? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 27.67 |
| Mkt Cap | 3.5 |
| Rev LTM | 1,155 |
| Op Inc LTM | - |
| FCF LTM | 416 |
| FCF 3Y Avg | 351 |
| CFO LTM | 445 |
| CFO 3Y Avg | 380 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 27.0% |
| Rev Chg 3Y Avg | 11.2% |
| Rev Chg Q | 18.1% |
| QoQ Delta Rev Chg LTM | 4.0% |
| Op Inc Chg LTM | - |
| Op Inc Chg 3Y Avg | - |
| Op Mgn LTM | - |
| Op Mgn 3Y Avg | - |
| QoQ Delta Op Mgn LTM | - |
| CFO/Rev LTM | 30.1% |
| CFO/Rev 3Y Avg | 33.7% |
| FCF/Rev LTM | 27.9% |
| FCF/Rev 3Y Avg | 31.8% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 3.5 |
| P/S | 3.1 |
| P/Op Inc | - |
| P/EBIT | - |
| P/E | 11.4 |
| P/CFO | 8.6 |
| Total Yield | 9.9% |
| Dividend Yield | 1.1% |
| FCF Yield 3Y Avg | 11.3% |
| D/E | 0.6 |
| Net D/E | -0.4 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 1.4% |
| 3M Rtn | 11.0% |
| 6M Rtn | 13.2% |
| 12M Rtn | 27.0% |
| 3Y Rtn | 85.3% |
| 1M Excs Rtn | 0.9% |
| 3M Excs Rtn | 1.5% |
| 6M Excs Rtn | 5.0% |
| 12M Excs Rtn | 5.5% |
| 3Y Excs Rtn | 30.2% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Mortgage Banking | 82 | 77 | 104 | 192 | 231 |
| Community Banking | 53 | 56 | 62 | 62 | 63 |
| Holding Company and Other | -0 | -1 | -4 | -0 | -1 |
| Total | 135 | 131 | 163 | 254 | 293 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Community Banking | 17 | 19 | 23 | 28 | 21 |
| Mortgage Banking | 1 | -10 | -3 | 42 | 60 |
| Holding Company and Other | 0 | 0 | 0 | -0 | 0 |
| Total | 19 | 9 | 19 | 71 | 81 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Community Banking | 2,442 | 2,178 | 2,010 | 2,162 | 2,117 |
| Mortgage Banking | 178 | 206 | 199 | 366 | 456 |
| Holding Company and Other | -410 | -172 | -177 | -312 | -388 |
| Total | 2,210 | 2,213 | 2,032 | 2,216 | 2,185 |
Price Behavior
| Market Price | $18.78 | |
| Market Cap ($ Bil) | 0.3 | |
| First Trading Date | 10/05/2005 | |
| Distance from 52W High | 0.0% | |
| 50 Days | 200 Days | |
| DMA Price | $18.30 | $16.63 |
| DMA Trend | up | up |
| Distance from DMA | 2.6% | 12.9% |
| 3M | 1YR | |
| Volatility | 18.0% | 23.2% |
| Downside Capture | 21.70 | 40.26 |
| Upside Capture | 44.26 | 74.83 |
| Correlation (SPY) | 28.6% | 30.7% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.76 | 0.53 | 0.35 | 0.36 | 0.59 | 0.64 |
| Up Beta | 1.99 | 0.62 | 0.13 | 0.26 | 0.53 | 0.60 |
| Down Beta | 1.51 | 0.65 | 0.56 | 0.62 | 0.63 | 0.69 |
| Up Capture | 32% | 32% | 37% | 44% | 67% | 34% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 12 | 20 | 30 | 63 | 128 | 376 |
| Down Capture | -3% | 68% | 38% | 10% | 48% | 84% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 7 | 19 | 31 | 58 | 116 | 359 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with WSBF | |
|---|---|---|---|---|
| WSBF | 49.5% | 23.2% | 1.66 | - |
| Sector ETF (XLF) | 4.6% | 14.6% | 0.09 | 42.6% |
| Equity (SPY) | 25.3% | 12.1% | 1.57 | 28.7% |
| Gold (GLD) | 27.6% | 26.9% | 0.88 | -1.0% |
| Commodities (DBC) | 36.9% | 19.0% | 1.52 | -17.0% |
| Real Estate (VNQ) | 12.5% | 13.3% | 0.63 | 34.6% |
| Bitcoin (BTCUSD) | -42.0% | 42.5% | -1.16 | 4.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with WSBF | |
|---|---|---|---|---|
| WSBF | 4.5% | 25.9% | 0.16 | - |
| Sector ETF (XLF) | 8.5% | 18.6% | 0.34 | 46.7% |
| Equity (SPY) | 13.5% | 17.1% | 0.62 | 35.0% |
| Gold (GLD) | 17.3% | 18.1% | 0.78 | 1.8% |
| Commodities (DBC) | 9.5% | 19.4% | 0.38 | 7.0% |
| Real Estate (VNQ) | 3.2% | 18.8% | 0.07 | 38.4% |
| Bitcoin (BTCUSD) | 11.3% | 54.6% | 0.40 | 11.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with WSBF | |
|---|---|---|---|---|
| WSBF | 8.5% | 24.9% | 0.34 | - |
| Sector ETF (XLF) | 12.6% | 22.2% | 0.52 | 53.3% |
| Equity (SPY) | 15.3% | 17.9% | 0.73 | 40.8% |
| Gold (GLD) | 13.0% | 16.0% | 0.67 | -0.1% |
| Commodities (DBC) | 7.1% | 18.0% | 0.32 | 14.3% |
| Real Estate (VNQ) | 5.6% | 20.7% | 0.24 | 42.5% |
| Bitcoin (BTCUSD) | 63.3% | 66.9% | 1.03 | 9.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/2/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 4/23/2026 | -0.3% | 0.3% | 2.0% |
| 1/28/2026 | 8.3% | 9.3% | 4.6% |
| 10/23/2025 | 3.4% | 3.2% | 5.3% |
| 7/22/2025 | 3.4% | 0.3% | 5.0% |
| 4/22/2025 | -1.5% | -1.6% | 2.1% |
| 1/28/2025 | 7.4% | 3.0% | 6.3% |
| 10/22/2024 | 2.0% | 0.9% | 2.6% |
| 7/25/2024 | 0.2% | -4.7% | -1.2% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 9 | 9 | 10 |
| # Negative | 8 | 8 | 7 |
| Median Positive | 3.4% | 3.2% | 4.8% |
| Median Negative | -2.7% | -4.1% | -5.1% |
| Max Positive | 8.3% | 9.3% | 20.8% |
| Max Negative | -10.0% | -11.2% | -16.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/28/2025 | 10-K |
| 09/30/2024 | 11/04/2024 | 10-Q |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 03/06/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/02/2023 | 10-Q |
| 03/31/2023 | 05/02/2023 | 10-Q |
| 12/31/2022 | 02/28/2023 | 10-K |
| 09/30/2022 | 11/02/2022 | 10-Q |
| 06/30/2022 | 08/03/2022 | 10-Q |
Insider Activity
Updated 5/22/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Gerke, Mark Raymond | EVP/Chief Financial Officer | Direct | Sell | 5222026 | 18.34 | 10,000 | 183,435 | 550,929 | Form |
| 2 | Gordon, Douglas S | Direct | Sell | 2202026 | 18.11 | 2,880 | 52,157 | 10,083,159 | Form | |
| 3 | Gordon, Douglas S | Direct | Sell | 2102026 | 18.27 | 6,765 | 123,563 | 10,222,062 | Form | |
| 4 | Gordon, Douglas S | Direct | Sell | 2062026 | 18.25 | 18,716 | 341,567 | 10,337,128 | Form | |
| 5 | Gordon, Douglas S | Direct | Sell | 2062026 | 18.55 | 15,000 | 278,265 | 10,854,821 | Form |
Industry Resources
| Financials Resources |
| Federal Reserve Economic Data |
| Federal Reserve |
| FDIC Data |
| American Banker |
| The Banker |
| Banking Technology |
| Regional Banks Resources |
| Bank Director |
| Independent Banker |
| S&P Global Market Intelligence |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.