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Washington Federal Inc. Message Board

  • MCanesta MCanesta Feb 17, 1998 12:29 PM Flag

    Recent Price dip?

    Does anybody know if the price of WFSL as of today reflects the 10% stock dividend that was/is to be distributed?

    I have been looking for a buying opportunity and noticed that the price dipped from about 30 to 27 and change. However, I am not sure if this is simply due to a 10% increase in the number of outstanding shares. That's about a 10% dip.

    Please Advise.


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    • WFSL was ex-dividend on 10 Feb. 10% price drop reflects that.
      There'll be more shares outstanding, but I think its long term
      prospects are good--based on history and what appears to be
      good management. Fundamentals look good.

      But as you can tell from my previous messages, my research leaves
      something to be desired.

      • 3 Replies to dreedva
      • I seem to remember in the announcement that WFSL was ex-dividend 2/10 but was going to handle the 10% split at the end of the month (FEB). That would mean that the 10% split has not yet happened. Does anyone seem to know for sure?

      • dreedva,

        <But as you can tell from my previous messages, my research leaves something to be desired.>

        Hey, I don't be too hard on yourself. I found similar inconsistent information on checking multiple sources. Some sites' data is older than others, and I think different sites put different labels on things.

        <Most recent quarterly statements from WFSL show about $1.6B in
        FHLB (Federal Home Loan Bank) advances. Maybe you could enlighten me on what that really means.>

        I think maybe this is one of those cases. The $1.6B in FHLB advances is consistent with what other sites show as LT Debt.
        Some seem to include that is a debt-equity calculation, and others don't. I wish I understood what it means myself. Maybe that in
        doing mortgages they "borrow" from the FHLB, and are required to pay it back as the loans are repaid. In which case a bank that
        specializes in mortgages would appear to carry higher "debt" than one whose primary business is, say, credit cards. I wonder if there's
        some protection built-into their mortgages that provides insurance for repayment of problem loans. Value Line shows their %
        Problem Loans to be a seemingly reasonable 0.5%.

        Just guessing, though. Perhaps there's some Fool out there who understands this better than we obviously do who will take the time to explain further.

      • Hey, at least you are trying.

22.69+0.23(+1.02%)Aug 31 4:00 PMEDT