WSBF
Waterstone Financial, Inc.
NasdaqGSUSDEQUITY
Financial Services
DELAYED
Neutral
+10/100
Last price
19.87
▼ 0.03 (0.15%)
MARKET · —
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Tool
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Open
—
Prev close
19.90
Day high
20.02
Day low
19.67
Volume
69.32K
Market cap
$357.20M
P/E (TTM)
11.55
52W range
14.52 – 21.66
Trailing performance
Returnvs SPY
1W
-0.55%
-2.5%
1M
-7.67%
-8.8%
3M
+2.69%
-1.8%
6M
+8.34%
-9.8%
YTD
+20.06%
+5.8%
1Y
+30.21%
+13.8%
3Y
+81.46%
-0.8%
5Y
—
—
Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.
Unusual options activity
Nothing crossed the thresholds in the expiries we scanned.
That is the normal state — most contracts trade well inside their existing open interest.
That is the normal state — most contracts trade well inside their existing open interest.
Contracts trading at or above their open interest, ranked by notional and where the print landed.
Free account
5 more panels on WSBF open with an account.
Options chains and analytics, valuation ratios, insider filings, analyst targets and ownership. No card, no trial, nothing to cancel.
Insider net activity
Net shares
+1.84K
Net buying
Buy transactions
2
20.00K shares
Sell transactions
2
18.16K shares
Net transactions
+4
Buys less sells
Sell : buy shares
0.9 : 1
Mixed
Insider-held shares
3.36M
Total on file
Insider transactions
| Date | Insider | Action | Shares | Value | Held |
|---|---|---|---|---|---|
| Aug 13, 26 | GORDON RYAN J Officer |
CONVERSION | 10.00K | $172.00K | Direct |
| Aug 13, 26 | GORDON RYAN J Officer |
SELL | 8.16K | $172.41K | Direct |
| May 21, 26 | GERKE MARK R. Chief Financial Officer |
CONVERSION | 10.00K | $149.80K | Direct |
| May 21, 26 | GERKE MARK R. Chief Financial Officer |
SELL | 10.00K | $183.44K | Direct |
| Feb 18, 26 | GORDON DOUGLAS S Director |
SELL | 2.88K | $52.16K | Direct |
| Feb 6, 26 | GORDON DOUGLAS S Director |
SELL | 6.76K | $123.56K | Direct |
| Feb 5, 26 | GORDON DOUGLAS S Director |
SELL | 33.72K | $619.83K | Direct |
| Feb 4, 26 | LAWTON PATRICK S Director |
SELL | 49.26K | $914.81K | Direct |
| Feb 2, 26 | GLYNN JULIE ANN Officer |
CONVERSION | 20.00K | $347.00K | Direct |
| Feb 2, 26 | GLYNN JULIE ANN Officer |
SELL | 20.93K | $380.77K | Direct |
| Oct 27, 25 | HANSEN MICHAEL L Director |
SELL | 81.41K | $1.23M | |
| Aug 13, 25 | HANSEN MICHAEL L Director |
SELL | 144.82K | $2.03M | Indirect |
| Aug 11, 25 | HANSEN MICHAEL L Director |
SELL | 2.76K | $38.05K | Indirect |
| Jul 25, 25 | HANSEN MICHAEL L Director |
SELL | 37.43K | $517.73K | Indirect |
What this is, and what it is not
These are SEC Form 4 filings — officers, directors and 10% owners reporting their own trades in the company's stock. Filing is due within two business days of the transaction, so this lags reality by days, and the provider adds its own lag on top.
A sale is not automatically bearish. Executives sell on scheduled 10b5-1 plans, to cover tax on vesting equity, and to diversify. Purchases with cash are generally the more informative signal, and they are far rarer.
This does not include congressional or senate trading. That comes from STOCK Act disclosures filed with the Senate eFD system and the House Clerk, which this data source does not carry.
Officer and director trades in their own stock, straight from Form 4 filings.
Insider holders
| Name | Relation | Shares held | Latest |
|---|---|---|---|
GERKE MARK R. |
Chief Financial Officer | 74.46K | Conversion of Exercise of derivative security |
GLYNN JULIE ANN |
Officer | 9.07K | Conversion of Exercise of derivative security |
GORDON DOUGLAS S |
Director | 632.77K | Sale |
GORDON RYAN J |
Officer | 54.20K | Conversion of Exercise of derivative security |
HANSEN MICHAEL L |
Director | — | Sale |
LAWTON PATRICK S |
Director | 0 | Sale |
RAPPE KRISTINE A |
Director | 27.32K | Conversion of Exercise of derivative security |
SCHMIDT STEPHEN J |
Director | 70.08K | Conversion of Exercise of derivative security |
Fundamentals
Market cap$357.20M
Enterprise value$730.16M
Revenue (TTM)$150.48M
Gross profit$150.48M
EBITDA—
Net income$30.10M
EPS (TTM)$1.72
Free cash flow—
Total cash$47.70M
Total debt$420.70M
Book value / share$19.95
Shares outstanding17.98M
Float15.68M
Short % of float2.84%
Dividend yield3.43%
Beta (5Y)0.74
Valuation & profitability ratios
Trailing P/E11.55
Forward P/E19.67
PEG ratio—
Price / sales—
Price / book1.00
EV / revenue4.85
EV / EBITDA—
Gross margin0.00%
Operating margin26.65%
Profit margin20.00%
Return on equity8.69%
Return on assets1.34%
Debt / equity—
Current ratio—
Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.
Financial statements
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Total revenue | $138.93M | $132.38M | $127.97M | $157.76M | +4.9% |
| Operating revenue | $138.93M | $132.38M | $127.97M | $157.76M | +4.9% |
| Selling, general & admin | $82.50M | $84.63M | $87.88M | $103.54M | -2.5% |
| Pre-tax income | $33.45M | $24.00M | $11.03M | $24.48M | +39.3% |
| Tax provision | $7.04M | $5.31M | $1.66M | $4.99M | +32.5% |
| Net income | $26.40M | $18.69M | $9.38M | $19.49M | +41.3% |
| Net income to common | $26.40M | $18.69M | $9.38M | $19.49M | +41.3% |
| Basic EPS | 1.48 | 1.01 | 0.47 | 0.89 | +46.5% |
| Diluted EPS | 1.48 | 1.01 | 0.46 | 0.89 | +46.5% |
| Basic shares | 17.84M | 18.56M | 20.16M | 21.88M | -3.9% |
| Diluted shares | 17.87M | 18.59M | 20.20M | 22.01M | -3.9% |
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Cash & equivalents | $63.85M | $35.46M | $30.93M | $35.96M | +80.1% |
| Property, plant & equipment | $18.86M | $19.39M | $20.00M | $21.11M | -2.8% |
| Total assets | $2.26B | $2.21B | $2.21B | $2.03B | +2.3% |
| Current debt | $216.08M | $293.55M | $309.00M | $185.70M | -26.4% |
| Long-term debt | $190.00M | $150.00M | $155.00M | $200.00M | +26.7% |
| Total debt | $406.08M | $443.55M | $464.00M | $385.70M | -8.4% |
| Total liabilities | $1.91B | $1.87B | $1.87B | $1.66B | +2.1% |
| Retained earnings | $292.96M | $277.20M | $269.61M | $274.25M | +5.7% |
| Shareholder equity | $349.39M | $339.13M | $344.06M | $370.49M | +3.0% |
| Net tangible assets | $349.39M | $339.13M | $344.06M | $370.49M | +3.0% |
| Shares issued | 18.36M | 19.34M | 20.31M | 22.17M | -5.1% |
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Net income | $26.40M | $18.69M | $9.38M | $19.49M | +41.3% |
| Depreciation & amortisation | $2.55M | $2.47M | $3.30M | $4.03M | +3.0% |
| Stock-based compensation | $297.00K | $316.00K | $277.00K | $583.00K | -6.0% |
| Change in working capital | $5.66M | -$1.72M | -$4.27M | $3.33M | +428.2% |
| Operating cash flow | $24.18M | $48.06M | -$27.58M | $206.66M | -49.7% |
| Capital expenditure | -$1.17M | -$1.10M | -$700.00K | -$701.00K | -6.0% |
| Investing cash flow | -$8.74M | -$23.96M | -$159.22M | -$335.74M | +63.5% |
| Share buybacks | -$16.21M | -$14.91M | -$26.03M | -$47.83M | -8.7% |
| Dividends paid | -$10.77M | -$11.27M | -$15.36M | -$30.26M | +4.4% |
| Financing cash flow | $15.91M | -$20.76M | $176.58M | -$201.00M | +176.6% |
| Free cash flow | $23.02M | $46.96M | -$28.28M | $205.96M | -51.0% |
| End cash position | $71.11M | $39.76M | $36.42M | $46.64M | +78.8% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Total revenue | $39.43M | — | — | — | — | — |
| Operating revenue | $39.43M | $34.66M | $36.60M | $36.35M | $37.22M | +13.8% |
| Selling, general & admin | $22.70M | $20.46M | $21.61M | $21.25M | $21.87M | +11.0% |
| Pre-tax income | $10.63M | $7.55M | $10.05M | $9.84M | $9.67M | +40.8% |
| Tax provision | $2.17M | $1.55M | $2.34M | $1.92M | $1.94M | +39.7% |
| Net income | $8.46M | $6.00M | $7.71M | $7.93M | $7.73M | +41.1% |
| Net income to common | $8.46M | $6.00M | $7.71M | $7.93M | $7.73M | +41.1% |
| Basic EPS | 0.49 | 0.35 | 0.44 | 0.45 | 0.43 | +40.0% |
| Diluted EPS | 0.49 | 0.34 | 0.44 | 0.45 | 0.43 | +44.1% |
| Basic shares | 17.11M | 17.37M | 17.47M | 17.64M | 17.99M | -1.5% |
| Diluted shares | 17.18M | 17.43M | 17.51M | 17.67M | 18.00M | -1.4% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $33.04M | $39.05M | $63.85M | $50.36M | $63.46M | -15.4% |
| Property, plant & equipment | $18.90M | $19.27M | $18.86M | $18.74M | $18.87M | -1.9% |
| Total assets | $2.25B | $2.25B | $2.26B | $2.27B | $2.26B | +0.1% |
| Current debt | $192.42M | $163.92M | $216.08M | $250.17M | $242.20M | +17.4% |
| Long-term debt | $212.97M | $242.97M | $190.00M | $210.00M | $210.00M | -12.3% |
| Total debt | $405.39M | $406.89M | $406.08M | $460.17M | $452.20M | -0.4% |
| Total liabilities | $1.90B | $1.90B | $1.91B | $1.92B | $1.92B | -0.1% |
| Retained earnings | $301.62M | $296.03M | $292.96M | $287.87M | $282.58M | +1.9% |
| Shareholder equity | $351.13M | $348.21M | $349.39M | $345.50M | $341.49M | +0.8% |
| Net tangible assets | $351.13M | $348.21M | $349.39M | $345.50M | $341.49M | +0.8% |
| Shares issued | 17.98M | 18.15M | 18.36M | 18.52M | 18.78M | -0.9% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Net income | $8.46M | $6.00M | $7.71M | $7.93M | $7.73M | +41.1% |
| Depreciation & amortisation | $799.00K | $917.00K | $687.00K | $591.00K | $560.00K | -12.9% |
| Stock-based compensation | $155.00K | $147.00K | -$39.00K | $148.00K | $106.00K | +5.4% |
| Change in working capital | $7.75M | -$8.58M | $4.94M | -$1.68M | -$3.59M | +190.3% |
| Operating cash flow | $9.50M | -$647.00K | $3.17M | $32.72M | -$38.45M | +1,568.8% |
| Capital expenditure | -$136.00K | -$991.00K | -$546.00K | -$295.00K | -$59.00K | +86.3% |
| Investing cash flow | $1.46M | -$15.95M | $36.86M | -$56.04M | -$6.42M | +109.2% |
| Share buybacks | -$3.68M | -$4.39M | -$2.72M | -$3.82M | -$6.49M | +16.2% |
| Dividends paid | -$2.88M | -$2.64M | -$2.64M | -$2.66M | -$2.73M | -9.1% |
| Financing cash flow | -$17.42M | -$9.86M | -$22.69M | $6.17M | $72.50M | -76.7% |
| Free cash flow | $9.37M | -$1.64M | $2.63M | $32.42M | -$38.51M | +671.9% |
| End cash position | $38.20M | $44.65M | $71.11M | $53.77M | $70.92M | -14.4% |
Options analytics
Put / call volume
0.00
Call-heavy session
Put / call open interest
0.20
Positioning, not flow
Max pain
2.50
-87.4% from spot
ATM implied vol
0.0%
Nearest strike to spot
Skew (10% OTM)
+12.5%
Puts bid over calls
Call volume
3
Contracts, this expiry
Put volume
0
Contracts, this expiry
Heaviest call OI
2.50
3 contracts
Heaviest put OI
20.00
1 contracts
Max pain is the strike at which the largest dollar value of open contracts expires worthless. It describes current positioning; it is not a forecast and it moves as open interest changes.
Put/call ratios, max pain, implied volatility skew and where open interest is concentrated.
Earnings
Reported vs expected · EPS
| Quarter | Est. | Actual | Surprise |
|---|---|---|---|
| Jun 2023 | — | 0.20 | — |
| Mar 2023 | 0.08 | 0.10 | +25.0% |
| Dec 2022 | 0.15 | 0.04 | -73.3% |
| Sep 2022 | 0.29 | 0.25 | -13.8% |
Forward consensus
| Period | EPS | Analysts | Revenue | Growth |
|---|---|---|---|---|
| Current quarter | — | — | $0 | — |
| Next quarter | — | — | $0 | — |
| Current year | — | — | $0 | — |
| Next year | — | — | $0 | — |
Analyst targets & ownership
Mean target—
High target—
Low target—
Implied upside—
Analyst count—
ConsensusNONE
Strong buy / Buy— / —
Hold—
Sell / Strong sell— / —
Held by insiders18.72%
Held by institutions55.72%
Institutions holding186
Price targets, consensus spread, insider and institutional ownership.
Moving averages & technicals
SMA 10
20.01
-0.70% from price
SMA 20
20.49
-3.04% from price
SMA 50
20.79
-4.41% from price
SMA 100
20.04
-0.84% from price
SMA 200
18.93
+4.97% from price
EMA 12
20.11
-1.20% from price
EMA 26
20.41
-2.66% from price
EMA 50
20.45
-2.82% from price
RSI (14)
37.7
Neutral
MACD (12,26,9)
-0.30
Hist -0.08
ATR (14)
0.47
2.36% of price
Realised vol 30D
15.8%
Annualised
Bollinger upper
21.63
20, 2σ
Bollinger lower
19.35
20, 2σ
50 / 200 cross
Golden
20.79 vs 18.93
Trend bias
Above 200
+4.97%
Options chain
Calls
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Puts
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Every listed expiry, both sides of the book, with volume, open interest and implied volatility.
Risk profile
Beta vs SPY
0.35
Less volatile than market
Correlation to SPY
0.21
Largely independent
Realised vol 30D
15.8%
Annualised
Market vol 1Y
13.0%
SPY, annualised
Max drawdown 1Y
-9.3%
Peak to trough
Max drawdown 5Y
-56.6%
Peak to trough
ATR 14
0.47
2.36% of price
Beta (reported)
0.74
5Y monthly, from filing
Short interest
Shares short
420.73K
Prior 396.12K
Change vs prior
+6.2%
Shorts adding
% of float
2.84%
Normal
% of shares out
2.34%
Against total outstanding
Days to cover
4.9
Liquid
Float
15.68M
Freely tradeable shares
Exchanges publish short interest twice a month with a settlement lag, so this is roughly two weeks behind. Days to cover divides shares short by average daily volume — it estimates how long covering would take, not whether it will happen.
Rating changes
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Feb 26, 21 | Piper Sandler | DOWNGRADE | Overweight | Neutral |
| Jul 29, 20 | Piper Sandler | MAINTAINED | — | Overweight |
| Oct 31, 17 | Piper Sandler | DOWNGRADE | Buy | Hold |
| Aug 2, 16 | Piper Sandler | UPGRADE | Hold | Buy |
Dividends & splits
Forward rate$0.68 / yr
Forward yield3.43%
5-year avg yield4.37%
Payout ratio35.84%
Ex-dividend dateOct 8, 2026
Next pay dateNov 2, 2026
Last split10972:10000
Split dateJan 23, 2014
SEC filings
Corporate Changes & Voting Matters
8-K · 2026-09-22
Periodic Financial Reports
10-Q · 2026-08-06
Corporate Changes & Voting Matters
8-K · 2026-07-23
Corporate Changes & Voting Matters
8-K · 2026-06-23
Annual report of employee stock purchase
11-K · 2026-06-03
Corporate Changes & Voting Matters
8-K · 2026-05-19
Periodic Financial Reports
10-Q · 2026-05-07
Corporate Changes & Voting Matters
8-K · 2026-04-27
Headlines
WSBF vs. TSBK: Which Community Lender is the Better Buy?
Zacks · 12d ago
Waterstone Financial Declares Regular Quarterly Cash Dividend
GlobeNewswire · 15d ago
WSBF Surges 43% in a Year: Reason to Buy the Stock Now?
Zacks · 34d ago
The Zacks Analyst Blog Highlights Costco, Chevron, Home Depot, IDT and Waterstone Financial
Zacks · 57d ago
Top Analyst Reports for Costco, Chevron & Home Depot
Zacks · 58d ago
Waterstone Financial's Q2 Earnings Up Y/Y on Loan Yield Gains
Zacks · 69d ago
Waterstone: Q2 Earnings Snapshot
Associated Press · 76d ago
Waterstone Financial, Inc. Announces Results of Operations for the Quarter and Six Months Ended June 30, 2026
GlobeNewswire · 76d ago
PRIVATE STRATEGY · BY QUALIFICATION
The same data. A different seat.
The research you are reading is the input layer for a discretionary options program we run for a small number of qualified investors. Minimum $1,000,000.