WaFd price target lowered to $35 from $36 at Piper Sandler

Piper Sandler lowered the firm’s price target on WaFd (WAFD) to $35 from $36 and keeps a Neutral rating on the shares. The firm is also lowering its fiscal 2025E EPS to $2.84 from $3.10 based on a smaller balance sheet, weaker fees, higher NIE, and much less buyback activity offset partially by lower LLPs.