(WSBF) Waterstone Financial - Overview
Stock: Deposits, Mortgages, Loans, Securities
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 4.19% |
| Yield on Cost 5y | 4.00% |
| Yield CAGR 5y | -17.58% |
| Payout Consistency | 93.2% |
| Payout Ratio | 45.2% |
| Risk 5d forecast | |
|---|---|
| Volatility | 30.0% |
| Relative Tail Risk | -9.48% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 1.27 |
| Alpha | 29.30 |
| Character TTM | |
|---|---|
| Beta | 0.517 |
| Beta Downside | 0.635 |
| Drawdowns 3y | |
|---|---|
| Max DD | 36.74% |
| CAGR/Max DD | 0.26 |
Description: WSBF Waterstone Financial January 01, 2026
Waterstone Financial, Inc. (NASDAQ: WSBF) is a bank-holding company that operates WaterStone Bank SSB, serving consumers and businesses in southeastern Wisconsin. The firm is organized into two primary segments: Community Banking, which delivers a full suite of deposit, loan, and wealth-management products, and Mortgage Banking, which originates residential mortgages for resale to the secondary market and holds a diversified portfolio of mortgage-backed securities and other debt instruments.
Based on the most recent quarterly filing (Q4 2023), WSBF reported a loan-to-deposit ratio of roughly 78 %, a net interest margin of 3.6 %, and a return on equity (ROE) of 9.2 %, indicating modest profitability relative to regional peers. The Mortgage Banking segment contributed about 45 % of total net interest income, reflecting the company’s reliance on mortgage origination volumes, which have been sensitive to the Federal Reserve’s policy-driven shifts in mortgage rates. The Community Banking segment’s loan growth slowed to 2.1 % YoY, while its non-interest-bearing deposit base grew 3.4 % YoY, suggesting a stable funding profile but limited expansion in a competitive local market.
Key economic drivers for WSBF include the Midwest housing market’s inventory constraints, which have kept mortgage demand elevated despite higher rates, and regional employment trends that influence credit quality; the company’s delinquency rate remains low at 0.7 % of total loans, well under the national average of 1.2 % (as of Q4 2023). Investors should monitor Fed policy outlook, regional population growth, and the performance of WSBF’s mortgage-backed securities portfolio when assessing upside potential. For a deeper, data-driven analysis of WSBF’s valuation metrics, a quick look at ValueRay’s platform can provide useful context.
Piotroski VR‑10 (Strict, 0-10) 3.0
| Net Income: 26.4m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA 0.91 > 1.0 |
| NWC/Revenue: 1002 % < 20% (prev -734.9%; Δ 1736 % < -1%) |
| CFO/TA 0.02 > 3% & CFO 44.4m > Net Income 26.4m |
| Net Debt (412.3m) to EBITDA (35.3m): 11.68 < 3 |
| Current Ratio: 11.12 > 1.5 & < 3 |
| Outstanding Shares: last quarter (17.5m) vs 12m ago -4.83% < -2% |
| Gross Margin: 75.12% > 18% (prev 0.66%; Δ 7446 % > 0.5%) |
| Asset Turnover: 7.94% > 50% (prev 9.02%; Δ -1.08% > 0%) |
| Interest Coverage Ratio: 0.39 > 6 (EBITDA TTM 35.3m / Interest Expense TTM 59.4m) |
Altman Z'' 5.81
| A: 0.79 (Total Current Assets 1.95b - Total Current Liabilities 175.6m) / Total Assets 2.26b |
| B: 0.13 (Retained Earnings 293.0m / Total Assets 2.26b) |
| C: 0.01 (EBIT TTM 23.4m / Avg Total Assets 2.23b) |
| D: 0.15 (Book Value of Equity 280.9m / Total Liabilities 1.91b) |
| Altman-Z'' Score: 5.81 = AAA |
Beneish M -3.63
| DSRI: 1.12 (Receivables 1.66b/1.66b, Revenue 177.4m/199.4m) |
| GMI: 0.88 (GM 75.12% / 66.48%) |
| AQI: 0.14 (AQ_t 0.13 / AQ_t-1 0.90) |
| SGI: 0.89 (Revenue 177.4m / 199.4m) |
| TATA: -0.01 (NI 26.4m - CFO 44.4m) / TA 2.26b) |
| Beneish M-Score: -3.63 (Cap -4..+1) = AAA |
What is the price of WSBF shares?
Over the past week, the price has changed by -0.76%, over one month by +10.64%, over three months by +19.99% and over the past year by +38.78%.
Is WSBF a buy, sell or hold?
- StrongBuy: 0
- Buy: 0
- Hold: 1
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the WSBF price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 12.5 | -31.7% |
| Analysts Target Price | 12.5 | -31.7% |
| ValueRay Target Price | 21 | 14.7% |
WSBF Fundamental Data Overview February 04, 2026
P/S = 2.416
P/B = 0.9611
Revenue TTM = 177.4m USD
EBIT TTM = 23.4m USD
EBITDA TTM = 35.3m USD
Long Term Debt = 210.0m USD (from longTermDebt, two quarters ago)
Short Term Debt = 259.1m USD (from shortTermDebt, two quarters ago)
Debt = 412.3m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 412.3m USD (from netDebt column, last quarter)
Enterprise Value = 403.7m USD (285.9m + Debt 412.3m - CCE 294.4m)
Interest Coverage Ratio = 0.39 (Ebit TTM 23.4m / Interest Expense TTM 59.4m)
EV/FCF = 9.29x (Enterprise Value 403.7m / FCF TTM 43.5m)
FCF Yield = 10.77% (FCF TTM 43.5m / Enterprise Value 403.7m)
FCF Margin = 24.50% (FCF TTM 43.5m / Revenue TTM 177.4m)
Net Margin = 14.88% (Net Income TTM 26.4m / Revenue TTM 177.4m)
Gross Margin = 75.12% ((Revenue TTM 177.4m - Cost of Revenue TTM 44.1m) / Revenue TTM)
Gross Margin QoQ = 100.0% (prev 71.57%)
Tobins Q-Ratio = 0.18 (Enterprise Value 403.7m / Total Assets 2.26b)
Interest Expense / Debt = 3.49% (Interest Expense 14.4m / Debt 412.3m)
Taxrate = 23.26% (2.34m / 10.1m)
NOPAT = 18.0m (EBIT 23.4m * (1 - 23.26%))
Current Ratio = 11.12 (Total Current Assets 1.95b / Total Current Liabilities 175.6m)
Debt / Equity = 1.18 (Debt 412.3m / totalStockholderEquity, last quarter 349.4m)
Debt / EBITDA = 11.68 (Net Debt 412.3m / EBITDA 35.3m)
Debt / FCF = 9.48 (Net Debt 412.3m / FCF TTM 43.5m)
Total Stockholder Equity = 344.4m (last 4 quarters mean from totalStockholderEquity)
RoA = 1.18% (Net Income 26.4m / Total Assets 2.26b)
RoE = 7.67% (Net Income TTM 26.4m / Total Stockholder Equity 344.4m)
RoCE = 4.22% (EBIT 23.4m / Capital Employed (Equity 344.4m + L.T.Debt 210.0m))
RoIC = 2.32% (NOPAT 18.0m / Invested Capital 774.9m)
WACC = 4.79% (E(285.9m)/V(698.2m) * Re(7.82%) + D(412.3m)/V(698.2m) * Rd(3.49%) * (1-Tc(0.23)))
Discount Rate = 7.82% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: -100.0 | Cagr: -5.00%
[DCF Debug] Terminal Value 80.82% ; FCFF base≈35.1m ; Y1≈23.0m ; Y5≈10.5m
Fair Price DCF = N/A (negative equity: EV 334.7m - Net Debt 412.3m = -77.6m; debt exceeds intrinsic value)
[DCF Warning] FCF declining rapidly (-40.0%), DCF may be unreliable
EPS Correlation: 14.52 | EPS CAGR: -48.10% | SUE: 0.0 | # QB: 0
Revenue Correlation: 4.53 | Revenue CAGR: -9.30% | SUE: 2.67 | # QB: 2