Waterstone Financial, Inc. - WSBF STOCK NEWS

Waterstone Financial, Inc. (NASDAQ: WSBF) reported net income of $4.7 million, or $0.26 per diluted share, for Q3 2024, compared to $3.3 million, or $0.16 per diluted share, in Q3 2023. The company's Community Banking segment saw growth in loan and core deposit balances, while maintaining strong asset quality metrics. The Mortgage Banking segment experienced a decrease in fundings but remained profitable due to cost control measures.

Key highlights include:

• Consolidated return on average assets: 0.83% (Q3 2024) vs 0.58% (Q3 2023)
• Dividends declared: $0.15 per common share
• Share repurchases: ~71,000 shares at $13.75 per share
• Book value per share: $17.58 (September 30, 2024)
• Community Banking pre-tax income: $5.6 million
• Mortgage Banking pre-tax income: $144,000

Waterstone Financial (NASDAQ: WSBF) has announced a regular quarterly cash dividend of $0.15 per common share. This dividend was declared by the company's Board of Directors on September 24, 2024. Shareholders who are on record at the close of business on October 8, 2024, will be eligible to receive the dividend. The payment is scheduled for November 1, 2024.

This announcement demonstrates Waterstone Financial's commitment to providing regular returns to its shareholders. The declaration of a quarterly dividend can be seen as a positive sign of the company's financial health and its ability to generate consistent cash flow.

Waterstone Financial, Inc. (NASDAQ: WSBF) reported improved financial results for Q2 2024. Net income increased to $5.7 million ($0.31 per diluted share), up from $4.0 million ($0.20 per diluted share) in Q2 2023. The company's consolidated return on average assets rose to 1.02% from 0.74% year-over-year, while return on average equity improved to 6.84% from 4.41%.

The Community Banking segment faced challenges with net interest income decreasing by 15.1% to $11.2 million, and net interest margin declining by 46 basis points to 2.01%. However, average loans held for investment increased by 5.1% to $1.67 billion.

The Mortgage Banking segment showed significant improvement, with pre-tax income of $2.0 million compared to a $1.4 million loss in Q2 2023. Loan originations increased by 1.7% to $634.1 million, with purchase activity accounting for 92.7% of originations.

Waterstone Financial (NASDAQ: WSBF) announced on June 18, 2024, that its Board of Directors has approved a regular quarterly cash dividend of $0.15 per common share.

The dividend will be payable on August 1, 2024, to shareholders recorded by the close of business on July 8, 2024.

Waterstone Financial, Inc., the holding company for WaterStone Bank, reported a net income of $3.0 million for the quarter ended March 31, 2024, showing improvement from the previous year. The Mortgage Banking segment saw increased performance despite industry challenges, while the Community Banking segment faced margin compression. The company focused on maintaining strong asset quality and returning capital to shareholders through dividends and share repurchases.

Waterstone Financial, Inc. (NASDAQ: WSBF) announced an expansion of its share repurchase program, authorizing the repurchase of up to an additional 2,000,000 shares of common stock. The total shares available for repurchase now stand at 2,224,852, representing approximately 11.2% of the company's issued and outstanding shares as of April 23, 2024. The timing and method of repurchases will depend on various factors, with the program subject to suspension, termination, or modification at any time.

Waterstone Financial, Inc. (WSBF) announces a regular quarterly cash dividend of $0.15 per common share scheduled for payment on May 1, 2024.

Waterstone Financial, Inc. reported a net loss of $40,000 for the quarter ended December 31, 2023, compared to net income of $935,000 for the same period in 2022. The company's Community Banking segment experienced a decrease in pre-tax income and net interest income, driven by a rise in short-term interest rates and an inverted yield curve. The Mortgage Banking segment also faced challenges with declining mortgage origination volumes and compressed margins. Despite these difficulties, the company's strong asset quality and robust level of capital allowed them to provide strong shareholder returns throughout 2023. Waterstone Financial, Inc. declared dividends of $0.70 per share and repurchased 1.9 million shares of their stock at an average price well below their current book value per share. However, the company experienced a negative return on average assets and equity, as well as a decrease in net interest margin for both segments.

Waterstone Financial, Inc. (NASDAQ: WSBF) declares a regular quarterly cash dividend of $0.15 per common share, payable on February 1, 2024, to shareholders of record at the close of business on January 8, 2024.