Equities analysts expect Washington Trust Bancorp, Inc. (NASDAQ:WASH – Get Rating) to report earnings per share of $0.91 for the current quarter, reports Zacks Investment Research. Two analysts have provided estimates for Washington Trust Bancorp’s earnings. The highest EPS estimate is $0.92 and the lowest is $0.89. Washington Trust Bancorp reported earnings per share of $1.00 for the same quarter last year, indicating a negative 9% year-over-year growth rate. The company is expected to release its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect Washington Trust Bancorp to report year-to-date full-year earnings per share of $3.82 with EPS estimates ranging from $3.79 to $3.85. For the next fiscal year, analysts expect the company to report earnings of $4.30 per share, with EPS estimates ranging from $4.15 to $4.44. Zacks Investment Research’s EPS calculations are a median average based on a survey of analysts covering Washington Trust Bancorp.
Washington Trust Bancorp (NASDAQ:WASH – Get Rating) last released its quarterly earnings results on Monday, April 25th. The financial services firm reported earnings per share of $0.94 for the quarter, beating analysts’ consensus estimate of $0.92 by $0.02. Washington Trust Bancorp had a net margin of 30.69% and a return on equity of 13.35%. In the same period last year, the company posted $1.17 per share.
Several research companies have recently commented on WASH. StockNews.com acquired coverage of Washington Trust Bancorp stock in a report dated Thursday, March 31st. They give the company a “hold” rating. Piper Sandler downgraded shares of Washington Trust Bancorp from an “overweight” rating to a “neutral” rating and set a price target of $56.00 on the stock. in a research report on Thursday, April 7th.
Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its holding in Washington Trust Bancorp 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 purchasing an additional 29,642 shares during the period. Franklin Resources Inc. increased its stake in Washington Trust Bancorp by 0.3% during the third quarter. Franklin Resources Inc. now owns 974,434 shares of the financial services provider’s stock valued at $51,626,000 after purchasing an additional 3,211 shares during the period. Dimensional Fund Advisors LP increased its holding in Washington Trust Bancorp by 0.4% during the third quarter. Dimensional Fund Advisors LP now owns 695,336 shares of the financial services provider valued at $36,840,000 after purchasing an additional 2,525 shares during the period. WASHINGTON TRUST Co increased its holdings of shares in Washington Trust Bancorp by 0.7% during the fourth quarter. WASHINGTON TRUST Co now owns 683,713 shares of the financial services provider, valued at $38,541,000, after purchasing an additional 5,073 shares during the period. Finally, JPMorgan Chase & Co. increased its holding in Washington Trust Bancorp by 1.3% in the fourth quarter. JPMorgan Chase & Co. now owns 477,109 shares of the financial services provider, valued at $26,894,000, after purchasing an additional 6,103 shares during the period. Hedge funds and other institutional investors own 77.37% of the company’s shares.
WASH opened at $47.24 on Friday. Washington Trust Bancorp has a 12-month low of $46.35 and a 12-month high of $60.96. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt to equity ratio of 0.15. The company has a market cap of $819.61 million, a PE ratio of 11.36 and a beta of 0.76. The company has a 50-day moving average of $50.94 and a two-hundred-day moving average of $54.55.
The company also recently announced a quarterly dividend, which was paid on Friday, April 8th. Investors of record were paid a dividend of $0.54 on Friday, April 1st. The ex-dividend date was Thursday March 31st. That equates to an annualized dividend of $2.16 and a dividend yield of 4.57%. Washington Trust Bancorp’s payout ratio is currently 51.92%.
About Washington Trust Bancorp (get rating)
Washington Trust Bancorp, Inc acts as the bank holding company for The Washington Trust Company of Westerly, which provides a variety of banking and financial services to individuals and businesses. The Company operates through two segments, Commercial Banking and Wealth Management Services. The Commercial Banking segment offers various commercial and personal lending products such as: B. commercial real estate loans, including commercial mortgages and construction loans; commercial and industrial loans; residential real estate loans, which consist of mortgage loans and homeowner construction loans; and consumer loans, which includes home equity loans and lines of credit, personal installment loans, and loans to individuals secured by general aviation aircraft.
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