Waterstone Financial, Inc.
WSBF · Savings Institution, Federally Chartered · 18.1M shares · -6%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $26M (gross $26M, SBC $277K)
Reference price $18.34 · est. market cap ~$331M — last insider sale, 2026-05-21 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C66Waterstone Financial — Wisconsin thrift plus mortgage-banking, decent returns.
Strengths
- ROA 88th pct; net income +41% (67th)
Risks
- High leverage (D/E 1.18, 100th, warehouse-driven)
- Mortgage-cycle and rate sensitivity
Notable findings
- Buying back stockNet buyback — share count -6%/yr over 4y
- Insider sellingInsider selling — 9 open-market sale(s) by 4 insider(s) (cluster of 4 insiders, ~$2M, last 6mo) Form 4 ↗
Key metrics
Return on equity
7.6%
Return on assets
1.2%
Net-income growth
41.3%
Debt / equity
1.2×
Free cash flow
$23M
Tangible book value
$349M
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-21 | Gerke Mark Raymond | Sell | 10K | $18.34 |
| 2026-05-21 | Gerke Mark Raymond | Option exercise | 10K | $14.98 |
| 2026-02-18 | Gordon Douglas S | Sell | 2.9K | $18.11 |
| 2026-02-06 | Gordon Douglas S | Sell | 6.8K | $18.27 |
| 2026-02-05 | Gordon Douglas S | Sell | 19K | $18.25 |
| 2026-02-04 | Lawton Patrick S | Sell | 19K | $18.64 |
| 2026-02-04 | Gordon Douglas S | Sell | 15K | $18.55 |
| 2026-02-03 | Lawton Patrick S | Sell | 30K | $18.53 |
| 2026-02-02 | Glynn Julie Ann | Sell | 929 | $18.69 |
| 2026-02-02 | Glynn Julie Ann | Option exercise | 20K | $17.35 |
| 2026-02-02 | Glynn Julie Ann | Sell | 20K | $18.17 |
| 2025-10-27 | Hansen Michael L | Sell | 1.5K | $15.16 |
| 2025-10-27 | Hansen Michael L | Sell | 80K | $15.16 |
| 2025-08-13 | Hansen Michael L | Sell | 110K | $14.05 |
| 2025-08-12 | Hansen Michael L | Sell | 35K | $13.92 |
| 2025-08-11 | Hansen Michael L | Sell | 2.8K | $13.80 |
| 2025-07-25 | Hansen Michael L | Sell | 100 | $13.80 |
| 2025-07-25 | Hansen Michael L | Sell | 761 | $13.81 |
| 2025-07-25 | Hansen Michael L | Sell | 100 | $13.82 |
| 2025-07-24 | Hansen Michael L | Sell | 36K | $13.83 |
| 2025-02-28 | Lawton Patrick S | Sell | 38K | $14.03 |
| 2025-02-28 | Gerke Mark Raymond | Option exercise | 5.0K | $12.75 |
| 2025-02-28 | Gerke Mark Raymond | Sell | 2.7K | $14.14 |
| 2025-02-28 | Lawton Patrick S | Option exercise | 38K | $12.75 |
| 2025-02-13 | RAPPE KRISTINE A | Sell | 22K | $14.25 |
| 2025-02-13 | RAPPE KRISTINE A | Option exercise | 22K | $12.75 |
| 2025-02-11 | Schmidt Stephen J | Sell | 6.2K | $13.79 |
| 2025-02-11 | Schmidt Stephen J | Option exercise | 6.2K | $12.75 |
| 2025-02-06 | Schmidt Stephen J | Sell | 3.1K | $13.75 |
| 2025-02-06 | Schmidt Stephen J | Option exercise | 3.1K | $12.75 |
| 2025-02-05 | RAPPE KRISTINE A | Option exercise | 10K | $12.75 |
| 2025-02-05 | Schmidt Stephen J | Option exercise | 11K | $12.75 |
| 2025-02-05 | Schmidt Stephen J | Sell | 11K | $13.76 |
| 2025-02-05 | RAPPE KRISTINE A | Sell | 10K | $13.75 |
| 2025-02-04 | RAPPE KRISTINE A | Sell | 4.8K | $13.77 |
| 2025-02-04 | Schmidt Stephen J | Option exercise | 2.2K | $12.75 |
| 2025-02-04 | Schmidt Stephen J | Sell | 2.2K | $13.76 |
| 2025-02-04 | RAPPE KRISTINE A | Option exercise | 4.8K | $12.75 |
| 2025-01-31 | RAPPE KRISTINE A | Option exercise | 20K | $12.75 |
| 2025-01-31 | RAPPE KRISTINE A | Sell | 20K | $13.76 |
| 2025-01-31 | Schmidt Stephen J | Option exercise | 15K | $12.75 |
| 2025-01-31 | Schmidt Stephen J | Sell | 15K | $13.80 |
| 2025-01-30 | Schmidt Stephen J | Option exercise | 12K | $12.75 |
| 2025-01-30 | RAPPE KRISTINE A | Sell | 14K | $13.89 |
| 2025-01-30 | RAPPE KRISTINE A | Option exercise | 14K | $12.75 |
| 2025-01-30 | Schmidt Stephen J | Sell | 12K | $13.94 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-23 | 2026-06-23 | 0001437749-26-021427 ↗ |
| 8-K | 2026-05-19 | 2026-05-19 | 0001437749-26-017794 ↗ |
| 10-Q | 2026-05-07 | 2026-03-31 | 0001437749-26-015566 ↗ |
| 8-K | 2026-04-27 | 2026-04-27 | 0001437749-26-013465 ↗ |
| 8-K | 2026-04-23 | 2026-04-23 | 0001437749-26-013174 ↗ |
| 8-K | 2026-03-17 | 2026-03-17 | 0001437749-26-008598 ↗ |
| 10-K | 2026-02-26 | 2025-12-31 | 0001437749-26-005853 ↗ |
| 8-K | 2026-01-28 | 2026-01-28 | 0001437749-26-002305 ↗ |
| 8-K | 2025-12-18 | 2025-12-18 | 0001437749-25-038299 ↗ |
| 10-Q | 2025-11-06 | 2025-09-30 | 0001437749-25-033594 ↗ |
| 8-K | 2025-10-23 | 2025-10-23 | 0001437749-25-031619 ↗ |
| 8-K | 2025-10-21 | 2025-10-21 | 0001437749-25-031417 ↗ |