Equities research analysts expect that Washington Trust Bancorp, Inc. (NASDAQ:WASH – Get Rating) will post $53.40 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Washington Trust Bancorp’s earnings, with the highest sales estimate coming in at $53.50 million and the lowest estimate coming in at $53.30 million. Washington Trust Bancorp posted sales of $58.85 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 9.3%. The company is expected to announce its next earnings results before the market opens on Monday, January 1st.
According to Zacks, analysts expect that Washington Trust Bancorp will report full year sales of $220.80 million for the current financial year. For the next year, analysts expect that the business will report sales of $237.05 million, with estimates ranging from $233.40 million to $240.70 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Washington Trust Bancorp.
Washington Trust Bancorp (NASDAQ:WASH – Get Rating) last released its quarterly earnings results on Wednesday, January 26th. The financial services provider reported $1.15 EPS for the quarter, topping the consensus estimate of $1.01 by $0.14. The company had revenue of $58.05 million for the quarter, compared to analyst estimates of $55.65 million. Washington Trust Bancorp had a return on equity of 13.94% and a net margin of 31.26%. During the same quarter in the previous year, the company posted $1.07 earnings per share.
Several hedge funds have recently made changes to their positions in the business. Bradley Foster & Sargent Inc. CT purchased a new position in shares of Washington Trust Bancorp in the 4th quarter valued at approximately $209,000. Norges Bank purchased a new stake in shares of Washington Trust Bancorp in the fourth quarter valued at approximately $8,131,000. Barclays PLC boosted its stake in shares of Washington Trust Bancorp by 7.9% in the fourth quarter. Barclays PLC now owns 39,995 shares of the financial services provider’s stock valued at $2,254,000 after buying an additional 2,940 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Washington Trust Bancorp by 2.0% in the fourth quarter. BlackRock Inc. now owns 1,540,201 shares of the financial services provider’s stock valued at $86,820,000 after buying an additional 29,642 shares in the last quarter. Finally, Mystic Asset Management Inc. purchased a new stake in shares of Washington Trust Bancorp in the fourth quarter valued at approximately $260,000. Institutional investors own 76.86% of the company’s stock.
WASH traded down $0.36 during trading on Friday, hitting $48.80. 58,912 shares of the stock were exchanged, compared to its average volume of 65,253. The firm has a market capitalization of $845.70 million, a P/E ratio of 11.12 and a beta of 0.74. Washington Trust Bancorp has a 1-year low of $46.35 and a 1-year high of $60.96. The stock has a fifty day moving average price of $54.17 and a two-hundred day moving average price of $55.47. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.30.
The business also recently announced a quarterly dividend, which was paid on Friday, April 8th. Shareholders of record on Friday, April 1st were paid a $0.54 dividend. The ex-dividend date of this dividend was Thursday, March 31st. This represents a $2.16 annualized dividend and a dividend yield of 4.43%. Washington Trust Bancorp’s dividend payout ratio (DPR) is currently 49.20%.
About Washington Trust Bancorp (Get Rating)
Washington Trust Bancorp, Inc operates as the bank holding company for The Washington Trust Company, of Westerly that offers various banking and financial services to individuals and businesses. The company operates in two segments, Commercial Banking and Wealth Management Services. The Commercial Banking segment provides 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 that consist of mortgage and homeowner construction loans; and consumer loans comprising home equity loans and lines of credit, personal installment loans, and loans to individuals secured by general aviation aircraft.
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