Profit Fan • Tue, Oct. 28
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- Waterstone Financial reported Q3 EPS of $0.14.
- The bank’s returns continue to be weighed down by the company’s low leverage, but the assets it does own are starting to produce more.
- I’ve been negative on the bank’s outlook (mostly because of time required), but this is starting to look like a solid long-term play.
- Waterstone Financial reported 2Q earnings.
- In line with my expectations, the bank easily beat last quarter's earnings but that still isn't saying much.
- Until the bank is freed from its heavy debt load, earnings will continue to look weak compared to the majority of its peers.
Recently Converted Waterstone Financial's Shares Cheap For A Reason
- Waterstone Financial's recent conversion will help fill the loan to deposit gap, but long-term liabilities are still draining earnings.
- Profits will grow when interest expenses fall, but the bank still has a lot of nonperforming assets to resolve.
- On top of problem assets, the bank's recent earnings still show the company relying on a heavy dose of mortgage fees that continue to decline.
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Waterstone Financial Inc is a one-bank holding company with two segments: community banking & mortgage banking. The Company through its subsidiary attracts deposits from the general public and uses such deposits to originate loans.
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