In a recent transaction on May 21, Cathy E. Cooper, the Executive Vice President and Chief Consumer Banker of WAFD Inc (NASDAQ:WAFD), sold 14,000 shares of the company's common stock. The sale was executed at an average price of $28.5195 per share, resulting in a total value of approximately $399,273.
Following the sale, Cooper's direct holdings in WAFD Inc decreased, yet she still maintains a significant stake in the company. Including the 34,322 stock units awarded as part of a Supplemental Executive Retirement Plan (SERP), Cooper's direct ownership in WAFD Inc stands at 88,691 shares. Additionally, her indirect holdings through the company's 401(k) plan saw an increase of 165 shares, reflecting cash conversions and dividend reinvestments, bringing her indirect ownership to 9,972 shares.
Investors often monitor insider transactions such as these for insights into executive confidence and company health. However, it's important to note that such sales can occur for various reasons and may not necessarily indicate a change in a company's future prospects or executive outlook.
Cathy E. Cooper confirmed the transaction with her signature on May 22, as documented in the required regulatory filings with the Securities and Exchange Commission.
InvestingPro Insights
As investors dissect the recent insider transaction involving Cathy E. Cooper at WAFD Inc, it's vital to consider the company's financial health and future outlook. According to InvestingPro, WAFD has demonstrated a commitment to shareholder returns by raising its dividend for 5 consecutive years. This is complemented by a noteworthy track record of maintaining dividend payments for 42 years, which signals a strong history of financial stability and shareholder commitment.
InvestingPro data shows that WAFD Inc has a market capitalization of $2.34 billion and a Price/Earnings (P/E) ratio of 10.97, which is below the adjusted P/E ratio of 13.53 for the last twelve months as of Q2 2024. This indicates that the company might be undervalued compared to its earnings. Additionally, the company's dividend yield stands at an attractive 3.59%, which could be appealing to income-focused investors.
While the company has experienced a revenue decline of 11.36% over the last twelve months as of Q2 2024, it's also important to note that analysts predict WAFD will remain profitable this year. This suggests that despite revenue challenges, the company's cost management and operational efficiency may be supporting its bottom line.
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