Piper Sandler cuts target for WaFd stock to USD 32.00

Published on 10/07/2026 at 03:42 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Q3 net income reached USD 66.13 million and diluted EPS stood at USD 0.84. For WaFd stock, Q4 results are due October 15, 2026, after assets reached USD 27.60 billion.

WAFD, US9388241096, Illustration mit AI erstellt.

WaFd (ISIN US9388241096) is facing a lower analyst valuation after Markets Insider reported on October 1, 2026, that Piper Sandler cut its price target from USD 36.00 to USD 32.00 while maintaining a Neutral rating. The reduction equals 11.11 percent and puts the analyst view closer to the bank's upcoming quarterly reporting date.

Target cut meets merger transition

The target change arrives while WaFd prepares for a strategic combination with EverBank. According to WaFd in its investor-relations information dated September 7, 2026, the company entered a USD 3.9 billion reverse merger transaction with EverBank Financial Corp.

The company said the combined business is expected to operate under the EverBank Financial Corp name after completion, while WaFd remains the publicly traded holding company during the transaction process. The structural change gives the target cut a second dimension: analysts are assessing both current bank earnings and the execution risk around a larger platform.

Third-quarter earnings set the baseline

WaFd generated USD 66.13 million in net income and diluted earnings per share of USD 0.84 in the third quarter of fiscal 2026 ended June 30, 2026. The figures come from the latest standardized financial data and are also reflected in the quarter summary from Simply Wall St.

Total assets stood at USD 27.60 billion for that quarter. Net income therefore represented 0.24 percent of reported assets for the period, a comparison that highlights the scale of the balance sheet relative to quarterly profitability rather than treating the target cut as an isolated valuation signal.

October results provide the next test

WaFd is scheduled to report fourth-quarter fiscal 2026 results on October 15, 2026, according to Simply Wall St. That report should give investors a fresh operating reference as the merger timetable, credit performance and earnings outlook converge.

WaFd's market capitalization was USD 2.2 billion as of October 6, 2026. The same dated market snapshot showed a 52-week range of USD 26.31 to USD 39.49, placing the valuation discussion between a recent low and high rather than at a single reference point.

WaFd valuation enters a reset

The combination of a USD 32.00 Piper Sandler target, USD 66.13 million in quarterly net income and the pending USD 3.9 billion transaction gives the October report several measurable benchmarks. The central issue is whether operating performance can support the strategic scale promised by the merger while analysts revise near-term valuation assumptions.