WaFd stock faces a USD 3.9 billion merger and target cut

Published on 10/06/2026 at 09:23 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

WaFd stock now carries a USD 3.9 billion EverBank transaction, while Piper Sandler cut its target from USD 36 to USD 32 on October 1, 2026. Q3 revenue reached USD 194.5 million, up 5.6 percent year over year.

WAFD, US9388241096, Illustration mit AI erstellt.

WaFd stock is tied to a USD 3.9 billion reverse merger with EverBank, a transaction that would create a bank with USD 75 billion in assets. The deal is expected to close in early 2027, subject to regulatory and shareholder approval, according to EverBank on September 7, 2026.

Merger changes the investment case

EverBank said the combined company would retain a Nasdaq listing before changing its name to EverBank Financial Corp and adopting the ticker EVBK. WaFd shareholders would own 40.8 percent of the pro forma company, while EverBank investors would hold 59.2 percent, according to Reuters on September 7, 2026.

The strategic logic rests on scale, but execution remains central because the transaction combines EverBank's digital model with WaFd's community banking platform. The proposed structure therefore makes regulatory clearance, integration and the timing of the closing the key operating checkpoints.

Quarterly growth meets analyst caution

WaFd's fiscal third quarter ended June 30, 2026, with revenue of USD 194.5 million, up 5.6 percent from the same quarter a year earlier. Net income reached USD 62.5 million, up 7.2 percent, while earnings per share came to USD 0.84, according to Simply Wall St in its October 2026 results summary.

The market is weighing that operating improvement against deal complexity. On October 1, 2026, Piper Sandler lowered its WaFd price target from USD 36 to USD 32 and kept a Neutral rating, as reported by Markets Insider.

WaFd remains a regional bank

WaFd provides lending, deposit and insurance services through WaFd Bank, serving consumers, businesses and commercial real estate customers. Its investor-relations page identifies Nasdaq as the trading venue and WAFD as the ticker, according to WaFd.

Market value stays below yearly high

WaFd had a market capitalization of USD 2.2 billion as of October 5, 2026. Its 52-week range was USD 26.31 to USD 39.49, with trading volume of 1,217,537 shares on the same date.