WaFd downgraded to Market Perform from Outperform at Keefe Bruyette

Keefe Bruyette downgraded WaFd (WAFD) to Market Perform from Outperform with an unchanged price target of $40. The firm believes it may be a few quarters before the bank’s net interest income growth story “really shines through as loan pipelines build back up.” It believes the shares are now fairly valued.