Waterstone Financial (NASDAQ:WSBF) Shares Up 5.4% on Earnings Beat

Waterstone Financial, Inc. (NASDAQ:WSBF) shot up 5.4% on Thursday following a better than expected earnings announcement. The stock traded as high as $18.35 and last traded at $18.32, 242,700 shares changed hands during trading. An increase of 264% from the average session volume of 66,656 shares. The stock had previously closed at $17.38.

The savings and loans company reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.11. Waterstone Financial had a net margin of 15.55% and a return on equity of 7.76%. The business had revenue of $50.65 million for the quarter.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 11th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.62%. The ex-dividend date is Thursday, October 10th.

Several equities research analysts recently issued reports on WSBF shares. BidaskClub downgraded shares of Waterstone Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, October 15th. Sandler O’Neill raised shares of Waterstone Financial from a “hold” rating to a “buy” rating and set a $19.50 price target on the stock in a research note on Thursday. Finally, ValuEngine raised shares of Waterstone Financial from a “sell” rating to a “hold” rating in a research note on Monday.

Institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can purchased a new stake in Waterstone Financial during the 2nd quarter worth $34,000. Meeder Asset Management Inc. increased its stake in Waterstone Financial by 169.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 2,180 shares of the savings and loans company’s stock worth $38,000 after buying an additional 1,371 shares during the period. Asset Planning Services Ltd. purchased a new stake in Waterstone Financial during the 2nd quarter worth $62,000. Zebra Capital Management LLC purchased a new stake in Waterstone Financial during the 2nd quarter worth $181,000. Finally, APG Asset Management N.V. purchased a new stake in Waterstone Financial during the 2nd quarter worth $178,000. 59.86% of the stock is currently owned by hedge funds and other institutional investors.

The company’s 50 day moving average is $17.16 and its 200-day moving average is $16.81. The stock has a market cap of $475.62 million, a PE ratio of 15.31 and a beta of 0.08. The company has a current ratio of 1.59, a quick ratio of 1.35 and a debt-to-equity ratio of 1.34.

About Waterstone Financial (NASDAQ:WSBF)

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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