Is WaFd, Inc. overvalued or undervalued?

As of 17 July 2025, WaFd, Inc. has moved from fair to very attractive in its valuation grade. The company appears to be undervalued, supported by a P/E ratio of 19, an EV to EBITDA of 19.17, and a Price to Book Value of 1.45. In comparison, UMB Financial Corp. has a P/E of 19.64 and Cadence Bank has a significantly lower P/E of 12.46, highlighting WaFd's relative attractiveness in the major banks sector.
Despite its recent valuation improvement, WaFd's stock has underperformed against the S&P 500, with a YTD return of -1.27% compared to the index's 12.22%. Over the past five years, however, it has returned 43.38%, which is still below the S&P 500's impressive 96.61% return, indicating potential for future growth as the market recognizes its value.