This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

5 Regional Banks With Solid Revenue Growth

Stocks in this article: BAC C WFSL SIVB UMPQ FNFG PBCT

3. Washington Federal

Shares of Washington Federal (WFSL) are down 23% year-to-date.

The Seattle-based bank, which has its fiscal year ending in September, reported a fourth- quarter net income of $30.67 million or 28 cents per share compared to $15.96 million or 14 cents per share in the year-earlier.

For the year, the bank reported an income excluding one-time items of $111.14 million, down 6% from the $118.65 million in previous year. Excluding the impact of one-time items, profits jumped 347% year-on-year.

Pre-provision net revenues increased 36% year-on-year to $63.27 million from $51.75 million in the year-ago quarter.

The bank's loan portfolio has been declining as a result of higher prepayments. Still net interest income improved to $104.5 million from $100.3 million in the prior-period quarter on account of improving margins, as the bank lowered deposit costs.

On October 17, 2011, Washington Federal completed its acquisition and integration of six branches from Charter Bank in New Mexico and $254 million of deposits, includingm $70 million of transaction accounts.

The bank said that results in 2012 will be "largely consistent" with 2011, which was a downer for investors. However, Sandler O'Neill analysts say the management tends to be somewhat cautious in its guidance and the bank could deliver better than its outlook suggests. "WFSL is a well-run company that is solidly profitable and has several levers it can pull to continue to support earnings and book value growth."

The stock trades at about 10 times its 2012 consensus earnings per share estimate. Seven analysts rate it a buy, while an equal number are on the fence with a hold rating.

4 of 6

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs