WA WAFD WaFd, Inc. Common Stock Loading... : Bullish and Bearish Analyst Opinions

"You look at our stock for example, we're sitting here trading literally a tangible book value... the biggest opportunity we have is to buy our shares back and increase the slice of the pie for our existing shareholders." When a bank trades at or below tangible book value (TBV) and management actively repurchases shares, the buybacks are highly accretive to the remaining shareholders. By pulling back on risky loan growth and focusing on buybacks, the bank establishes a valuation floor and structurally increases its book value per share. LONG WAFD as a value play with a management team demonstrating disciplined capital allocation and downside protection. A severe macroeconomic recession could cause unexpected loan losses, driving tangible book value down and negating the benefits of the buybacks.