Washington Trust Bancorp (NASDAQ:WASH – Get Rating) is expected to release quarterly results before market open on Monday, April 25. Analysts expect Washington Trust Bancorp to post earnings of $0.89 per share for the quarter. Those interested in registering for the company’s earnings conference call can do so using this link.
Washington Trust Bancorp (NASDAQ:WASH – Get Rating) last announced its quarterly results on Wednesday, January 26. The financial services provider reported earnings per share (EPS) of $1.15 for the quarter, beating the Zacks consensus estimate of $1.01 by $0.14. Washington Trust Bancorp had a return on equity of 13.94% and a net margin of 31.26%. The company posted revenue of $58.05 million for the quarter, versus a consensus estimate of $55.65 million. During the same period last year, the company posted EPS of $1.07. On average, analysts expect Washington Trust Bancorp to post EPS of $4 for the current fiscal year and EPS of $4 for the next fiscal year.
Shares of NASDAQ:WASH opened at $48.78 on Monday. Washington Trust Bancorp has a 12-month low of $46.35 and a 12-month high of $60.96. The company’s 50-day simple moving average is $53.36 and its 200-day simple moving average is $55.30. The company has a market capitalization of $845.41 million, a PE ratio of 11.11 and a beta of 0.74. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt ratio of 0.30.
The company also recently declared a quarterly dividend, which was paid on Friday, April 8. Shareholders of record on Friday, April 1 received a dividend of $0.54. The ex-dividend date was Thursday, March 31. This represents a dividend of $2.16 on an annualized basis and a dividend yield of 4.43%. Washington Trust Bancorp’s dividend payout ratio is currently 49.20%.
Several hedge funds have recently changed their WASH holdings. Norges Bank acquired a new stake in Washington Trust Bancorp in the fourth quarter valued at approximately $8,131,000. Barclays PLC increased its position in shares of Washington Trust Bancorp by 7.9% during the fourth quarter. Barclays PLC now owns 39,995 shares of the financial services provider valued at $2,254,000 after acquiring an additional 2,940 shares during the period. BlackRock Inc. increased its position in Washington Trust Bancorp shares by 2.0% during the fourth quarter. BlackRock Inc. now owns 1,540,201 shares of the financial services provider valued at $86,820,000 after acquiring an additional 29,642 shares during the period. Goldman Sachs Group Inc. raised its position in Washington Trust Bancorp shares by 5.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 11,337 shares of the financial services provider valued at $639,000 after acquiring an additional 625 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of Washington Trust Bancorp by 0.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 337,560 shares of the financial services provider valued at $19,029,000 after acquiring an additional 3,098 shares during the period. 76.86% of the shares are currently held by institutional investors.
A number of brokerages have recently published WASH reports. StockNews.com began covering Washington Trust Bancorp in a report on Thursday, March 31. They issued a “holding” rating on the stock. Piper Sandler downgraded Washington Trust Bancorp from an “overweight” rating to a “neutral” rating and set a price target of $56.00 for the company. in a report on Thursday, April 7. Finally, Zacks Investment Research upgraded Washington Trust Bancorp from a “sell” rating to a “hold” rating in a Friday, January 7, report.
About Washington Trust Bancorp (Get an evaluation)
Washington Trust Bancorp, Inc. operates as a bank holding company for The Washington Trust Company, of Westerly, which provides various banking and financial services to individuals and businesses. The Company operates in two segments, commercial banking services and wealth management services. The Commercial Banking segment offers various commercial and retail lending products, such as commercial real estate loans, including commercial mortgages and construction loans; commercial and industrial loans; residential real estate loans which consist of homeowner mortgages and construction loans; and consumer loans including home equity loans and lines of credit, personal installment loans and personal loans secured by general aviation aircraft.
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