Last $11.98 USD
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Volume 113.5K
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As of 8:10 PM 09/16/14 All times are local (Market data is delayed by at least 15 minutes).

waterstone financial inc (WSBF) Key Developments

Waterstone Financial, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Announces Net Charge-Offs for the Second Quarter Ended June 30, 2014

Waterstone Financial, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported net interest income of $10,610,000 against $9,921,000 a year ago. Income before income taxes was $5,918,000 against $7,981,000 a year ago. Net income was $3,770,000 or $0.11 basic and diluted per share against $4,927,000 or $0.14 basic and diluted per share a year ago. Return on average assets was 0.85% against 1.21% a year ago. Return on average equity was 3.27% against 9.42% a year ago. For the six months, the company reported net interest income of $20,310,000 against $20,067,000 a year ago. Income before income taxes was $8,796,000 against $15,529,000 a year ago. Net income was $5,654,000 or $0.16 diluted per share against $9,552,000 or $0.28 basic and diluted per share a year ago. For the quarter, the company reported net charge-offs of $2,449,000 against $2,731,000 a year ago.

Waterstone Financial, Inc. Declares Regular Quarterly Cash Dividend, Payable on August 1, 2014

On June 17, 2014, the board of Directors of Waterstone Financial, Inc. declared a regular quarterly cash dividend of $0.05 per common share, payable on August 1, 2014 to shareholders of record at the close of business on July 11, 2014.

Waterstone Financial, Inc. Appoints McGladrey LLP by Replacing KPMG LLP as Principal Accountants for the Year Ending December 31, 2014

On June 2, 2014, Waterstone Financial, Inc. was dismissed as the Registrant's principal accountants. The decision to dismiss KPMG LLP was approved by the Audit Committee of the Registrant. During the years ended December 31, 2013 and 2012 and the subsequent interim period through June 2, 2014, there were no disagreements with KPMG LLP on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures, which disagreements, if not resolved to their satisfaction, would have caused them to make reference in connection with their opinion to the subject matter of the disagreement. On June 3, 2014, the company engaged McGladrey LLP as the Registrant's new principal accountants for the year ending December 31, 2014. The engagement was approved by the Audit Committee of the Board of Directors of the Registrant.

Waterstone Financial, Inc. Reports Earnings Results for the Fourth Quarter and Year Ended December 31, 2013

Waterstone Financial, Inc. reported earnings results for the fourth quarter and year ended December 31, 2013. For the quarter, the company reported pre-tax income of $2.6 million and net income of $1.9 million for the fourth quarter of 2013. This compares to pre-tax income of $5.7 million and net income of $18.1 million for the fourth quarter of 2012. Net income per diluted share was $0.06 for the fourth quarter of 2013 as compared to $0.53 per diluted share for the fourth quarter of 2012. For the year, the company reported a 3% increase in pre-tax income compared to 2012. Pre-tax and net income totaled $23.3 million and $14.7 million, respectively, for the year ended December 31, 2013 compared to $22.7 million and $34.9 million, respectively, for the year ended December 31, 2012. Net income per diluted share was $0.43 and $1.02 for the years ended December 31, 2013 and 2012, respectively. Net interest income for the year ended December 31, 2013 was $39.21 million, compared to $41.94 million for the year ended December 31, 2012.

Waterstone Financial, Inc. announced delayed ammended 10-K filing

On 03/19/2014, Waterstone Financial, Inc. announced that they will be unable to file their ammended 10-K by the deadline required by the SEC.

 

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WSBF

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Valuation WSBF Industry Range
Price/Earnings 38.2x
Price/Sales 3.5x
Price/Book 0.9x
Price/Cash Flow 38.1x
TEV/Sales NM Not Meaningful
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