Waterstone Financial (NASDAQ:WSBF) Share Price Crosses Below Two Hundred Day Moving Average - Here's Why

Key Points

• Waterstone Financial shares fell below their 200-day moving average, trading as low as $19.54 versus the $19.62 average, and last changing hands at $19.73.
• The company’s latest quarterly results missed analyst expectations, reporting earnings per share of $0.49 versus a $0.66 consensus and revenue of $40.25 million compared with estimates of $65.80 million.
• Waterstone Financial declared a quarterly dividend of $0.17, equal to $0.68 annually and a 3.4% yield; despite mixed analyst views, the stock retains a consensus “Buy” rating.

Waterstone Financial, Inc. (NASDAQ:WSBF - Get Free Report)'s stock price passed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $19.62 and traded as low as $19.54. Waterstone Financial shares last traded at $19.73, with a volume of 83,746 shares changing hands.

Analysts Set New Price Targets

WSBF has been the subject of a number of analyst reports. Weiss Ratings restated a "buy (b)" rating on shares of Waterstone Financial in a research report on Wednesday, August 26th. Wall Street Zen downgraded shares of Waterstone Financial from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating. Based on data from MarketBeat, Waterstone Financial presently has a consensus rating of "Buy".

Waterstone Financial Stock Down 0.3%

The stock has a market cap of $354.75 million, a PE ratio of 11.47 and a beta of 0.74. The business's fifty day moving average is $20.68 and its 200 day moving average is $19.62.

Waterstone Financial (NASDAQ:WSBF - Get Free Report) last issued its earnings results on Thursday, July 23rd. The savings and loans company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.17). Waterstone Financial had a return on equity of 8.64% and a net margin of 14.57%. The company had revenue of $40.25 million for the quarter, compared to analyst estimates of $65.80 million.

Waterstone Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 8th will be issued a $0.17 dividend. The ex-dividend date is Thursday, October 8th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.4%. Waterstone Financial's dividend payout ratio is currently 39.53%.

Hedge Funds Weigh In On Waterstone Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Corient Private Wealth LP acquired a new position in shares of Waterstone Financial during the 2nd quarter worth approximately $210,000. Hsbc Holdings PLC grew its holdings in Waterstone Financial by 3.1% during the 2nd quarter. Hsbc Holdings PLC now owns 49,490 shares of the savings and loans company's stock valued at $1,023,000 after buying an additional 1,478 shares during the last quarter. Empowered Funds LLC acquired a new stake in Waterstone Financial during the 2nd quarter valued at $2,390,000. Bank of America Corp DE acquired a new stake in Waterstone Financial during the 2nd quarter valued at $899,000. Finally, Odyssean LLC acquired a new stake in Waterstone Financial during the 2nd quarter valued at $400,000. 62.71% of the stock is owned by institutional investors and hedge funds.

About Waterstone Financial

Waterstone Financial, Inc NASDAQ: WSBF is a savings and loan holding company headquartered in Wauwatosa, Wisconsin. Its principal subsidiary, WaterStone Bank, is a Wisconsin-chartered bank that provides banking and financial services to individuals, families, businesses and community organizations.

WaterStone Bank offers deposit products such as checking, savings, money market and certificate accounts, along with lending services. Its loan portfolio has included residential mortgages, home equity loans, commercial real estate loans, construction financing, business loans and consumer credit.

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