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On January 29, 2026 the board declared a quarterly cash dividend of $0.08 per share payable March 2, 2026 (record date February 13, 2026). The board also authorized a 2026 repurchase plan permitting up to $10.0 million in share repurchases, effective March 1, 2026. Earlier in January the company extended its registered exchange offer for 7.25% fixed-to-floating subordinated notes due 2035 through January 9, 2026. The company set fourth-quarter 2025 earnings release and conference call dates for January 20–21, 2026.
Technical Analysis
ADX at 21.32 signals an emerging directional trend rather than a strong trend; that emerging trend supports the valuation’s fair-valued posture by implying limited follow-through risk for now.
DI+ sits at 24.82 and is increasing while DI‑ sits at 14.59 and is decreasing; that configuration reads as a bullish directional bias that supports potential near-term upside toward the current analyst price-target mean.
MACD registers 0.51, the MACD trend is increasing, and the MACD sits above its signal line (0.04); the MACD crossing-above the signal line constitutes a bullish momentum signal that aligns with the DI+ directional bias.
MRO equals 5.34 and is increasing; because the MRO is positive, the model indicates the price currently sits above the internal target and therefore carries measurable downside potential if momentum stalls.
RSI at 55.13 and rising reflects constructive, non-overbought momentum and therefore room for continuation, consistent with the MACD and DI+ readings.
Price closed at $42.19, above the 20-day average ($39.76), 50-day average ($40.04) and 200-day average ($37.08); price also trades above Ichimoku Tenkan (40.19) and Kijun (39.80), reinforcing the short-term bullish posture. Price sits above the 1× Bollinger upper band ($41.45) but below the 2× upper band ($43.14), indicating strength with limited extension.
Volume at 33,571 trails 10-, 50- and 200-day averages and therefore weakens conviction behind the recent upside; low relative volume raises the chance of range-bound action or short-term pullbacks to the SuperTrend support at $39.48.
Fundamental Analysis
Earnings per share came in at $0.81 versus an estimate of $0.78, producing a positive EPS surprise of 3.85%. WMDST notes the EPS beat while recognizing the company’s YoY earnings contraction; reported earnings growth equals -5.81% year-over-year.
Price-to-earnings stands at 45.82; this ratio sits slightly above the industry peer mean of 43.92 and modestly above the industry peer median of 43.18, implying a premium relative to the average peer multiple. Forward P/E equals 37.29 and sits roughly in line with the industry peer mean forward P/E (about 37.52), offering some forward-year multiple relief versus the trailing P/E.
Price-to-book equals 1.14, which falls below the industry peer mean of 1.263 and sits close to the industry peer median of 1.205; the P/B compression relative to the peer mean partially offsets the higher trailing P/E when framing valuation.
PEG ratio registers negative (-7.88) and forward PEG remains negative, reflecting negative reported growth rates embedded in the multiple and signaling that current multiples do not assume sustained near-term earnings acceleration.
Cash flow shows strength: free cash flow equals $16,176,000 with a free-cash-flow yield of 2.56%, above the industry peer mean free-cash-flow yield of roughly 2.20%. Operating cash flow totaled $16,530,000 and free-cash-to-net-income exceeds 1.18, indicating solid conversion of accounting earnings into cash.
Balance-sheet metrics reflect conservative leverage: total debt equals $98,662,000, debt-to-assets equals 1.68%, and debt-to-equity equals 17.86%. Asset growth stands at 1.31% and return on equity measures 2.48% (return on assets 0.24%), both modest and consistent with a low-risk regional-bank franchise.
Capital return policy now includes a $0.08 quarterly dividend (dividend payout ratio ~9.95%, dividend coverage ~10.05) and a $10.0 million repurchase authorization; these actions shift capital allocation toward distributions while the company retains above-zero free cash flow and low leverage. WMDST values the stock as fair-valued.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-12-31 |
| REPORT DATE: | 2026-01-20 |
| NEXT REPORT DATE: | 2026-04-21 |
| CASH FLOW | Begin Period Cash Flow | $ 557.1 M |
| Operating Cash Flow | $ 16.5 M | |
| Capital Expenditures | $ -354.00 K | |
| Change In Working Capital | $ -1.20 M | |
| Dividends Paid | $ -1.36 M | |
| Cash Flow Delta | $ -92.71 M | |
| End Period Cash Flow | $ 464.4 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 53.3 M | |
| Forward Revenue | $ 16.9 M | |
| COSTS | ||
| Cost Of Revenue | — | |
| Depreciation | $ 1.3 M | |
| Depreciation and Amortization | $ 1.8 M | |
| Research and Development | — | |
| Total Operating Expenses | — | |
| PROFITABILITY | ||
| Gross Profit | — | |
| EBITDA | — | |
| EBIT | — | |
| Operating Income | — | |
| Interest Income | $ 75.6 M | |
| Interest Expense | $ 30.5 M | |
| Net Interest Income | $ 45.1 M | |
| Income Before Tax | $ 16.7 M | |
| Tax Provision | $ 3.0 M | |
| Tax Rate | 18.0 % | |
| Net Income | $ 13.7 M | |
| Net Income From Continuing Operations | $ 13.7 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.78 | |
| EPS Actual | $ 0.81 | |
| EPS Difference | $ 0.03 | |
| EPS Surprise | 3.846 % | |
| Forward EPS | $ 1.02 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 5.9 B | |
| Intangible Assets | $ 95.3 M | |
| Net Tangible Assets | $ 457.1 M | |
| Total Current Assets | — | |
| Cash and Short-Term Investments | — | |
| Cash | $ 451.6 M | |
| Net Receivables | — | |
| Inventory | — | |
| Long-Term Investments | — | |
| LIABILITIES | ||
| Accounts Payable | — | |
| Short-Term Debt | — | |
| Total Current Liabilities | — | |
| Net Debt | — | |
| Total Debt | $ 98.7 M | |
| Total Liabilities | $ 5.3 B | |
| EQUITY | ||
| Total Equity | $ 552.4 M | |
| Retained Earnings | $ 248.7 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 32.44 | |
| Shares Outstanding | 17.029 M | |
| Revenue Per-Share | $ 3.13 | |
| VALUATION | Market Capitalization | $ 632.0 M |
| Enterprise Value | $ 730.7 M | |
| Enterprise Multiple | — | |
| Enterprise Multiple QoQ | — | |
| Enterprise Multiple YoY | — | |
| Enterprise Multiple IPRWA | — | |
| EV/R | 13.706 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 10.61 | |
| Asset To Liability | 1.104 | |
| Debt To Capital | 0.152 | |
| Debt To Assets | 0.017 | |
| Debt To Assets QoQ | -29.758 % | |
| Debt To Assets YoY | 2114.474 % | |
| Debt To Assets IPRWA | high: 0.157 median: 0.058 mean: 0.054 SMBK: 0.017 low: -0.0 |
|
| Debt To Equity | 0.179 | |
| Debt To Equity QoQ | -30.623 % | |
| Debt To Equity YoY | 2094.226 % | |
| Debt To Equity IPRWA | high: 1.415 mean: 0.478 median: 0.466 SMBK: 0.179 low: -0.002 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.144 | |
| Price To Book QoQ | 2.644 % | |
| Price To Book YoY | 3.771 % | |
| Price To Book IPRWA | high: 2.039 mean: 1.263 median: 1.205 SMBK: 1.144 low: 0.274 |
|
| Price To Earnings (P/E) | 45.818 | |
| Price To Earnings QoQ | 11.808 % | |
| Price To Earnings YoY | -18.405 % | |
| Price To Earnings IPRWA | high: 77.079 SMBK: 45.818 mean: 43.919 median: 43.18 low: 30.108 |
|
| PE/G Ratio | -7.881 | |
| Price To Sales (P/S) | 11.855 | |
| Price To Sales QoQ | -6.933 % | |
| Price To Sales YoY | 2.44 % | |
| Price To Sales IPRWA | high: 22.493 mean: 13.147 median: 12.523 SMBK: 11.855 low: 0.123 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 37.288 | |
| Forward PE/G | -6.414 | |
| Forward P/S | 37.547 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | — | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.009 | |
| Asset Turnover Ratio QoQ | 9.569 % | |
| Asset Turnover Ratio YoY | -0.326 % | |
| Asset Turnover Ratio IPRWA | high: 0.015 mean: 0.01 median: 0.01 SMBK: 0.009 low: 0.006 |
|
| Receivables Turnover | — | |
| Receivables Turnover Ratio QoQ | — | |
| Receivables Turnover Ratio YoY | — | |
| Receivables Turnover Ratio IPRWA | — | |
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | — | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | — | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | — | |
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | — | |
| CapEx To Revenue | -0.007 | |
| CapEx To Depreciation | -0.27 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 651.0 M | |
| Net Invested Capital | $ 651.0 M | |
| Invested Capital | $ 651.0 M | |
| Net Tangible Assets | $ 457.1 M | |
| Net Working Capital | — | |
| LIQUIDITY | ||
| Cash Ratio | — | |
| Current Ratio | — | |
| Current Ratio QoQ | — | |
| Current Ratio YoY | — | |
| Current Ratio IPRWA | — | |
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | — | |
| Cost Of Debt | 28.369 % | |
| Interest Coverage Ratio | — | |
| Interest Coverage Ratio QoQ | — | |
| Interest Coverage Ratio YoY | — | |
| Interest Coverage Ratio IPRWA | — | |
| Operating Cash Flow Ratio | — | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | — | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 10.046 | |
| Dividend Payout Ratio | 0.1 | |
| Dividend Rate | $ 0.08 | |
| Dividend Yield | 0.002 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 1.311 % | |
| Revenue Growth | -4.324 % | |
| Revenue Growth QoQ | -0.0 % | |
| Revenue Growth YoY | -172.296 % | |
| Revenue Growth IPRWA | high: 23.369 % mean: 3.437 % median: 3.159 % SMBK: -4.324 % low: -10.947 % |
|
| Earnings Growth | -5.814 % | |
| Earnings Growth QoQ | -123.598 % | |
| Earnings Growth YoY | -204.644 % | |
| Earnings Growth IPRWA | high: 44.444 % mean: 3.154 % median: 2.632 % SMBK: -5.814 % low: -25.0 % |
|
| MARGINS | ||
| Gross Margin | — | |
| Gross Margin QoQ | — | |
| Gross Margin YoY | — | |
| Gross Margin IPRWA | — | |
| EBIT Margin | — | |
| EBIT Margin QoQ | — | |
| EBIT Margin YoY | — | |
| EBIT Margin IPRWA | — | |
| Return On Sales (ROS) | — | |
| Return On Sales QoQ | — | |
| Return On Sales YoY | — | |
| Return On Sales IPRWA | — | |
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 16.2 M | |
| Free Cash Flow Yield | 2.559 % | |
| Free Cash Flow Yield QoQ | -7.249 % | |
| Free Cash Flow Yield YoY | -9.704 % | |
| Free Cash Flow Yield IPRWA | high: 7.476 % SMBK: 2.559 % median: 2.306 % mean: 2.196 % low: -3.012 % |
|
| Free Cash Growth | -2.301 % | |
| Free Cash Growth QoQ | -109.198 % | |
| Free Cash Growth YoY | -106.51 % | |
| Free Cash Growth IPRWA | high: 176.765 % SMBK: -2.301 % mean: -2.877 % median: -9.484 % low: -234.402 % |
|
| Free Cash To Net Income | 1.18 | |
| Cash Flow Margin | 29.065 % | |
| Cash Flow To Earnings | 1.131 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.07 | |
| Return On Assets (ROA) | 0.235 % | |
| Return On Assets QoQ | -3.292 % | |
| Return On Assets YoY | 24.339 % | |
| Return On Assets IPRWA | high: 0.645 % median: 0.311 % mean: 0.31 % SMBK: 0.235 % low: -0.023 % |
|
| Return On Capital Employed (ROCE) | — | |
| Return On Equity (ROE) | 0.025 | |
| Return On Equity QoQ | -2.4 % | |
| Return On Equity YoY | 26.453 % | |
| Return On Equity IPRWA | high: 0.047 mean: 0.028 median: 0.028 SMBK: 0.025 low: 0.003 |
|
| DuPont ROE | 2.514 % | |
| Return On Invested Capital (ROIC) | — | |
| Return On Invested Capital QoQ | — | |
| Return On Invested Capital YoY | — | |
| Return On Invested Capital IPRWA | — | |