Q3 2023 EPS Estimates for Washington Trust Bancorp, Inc. Decreased by Piper Sandler (NASDAQ:WASH)

Washington Trust Bancorp, Inc. (NASDAQ:WASHGet Rating) – Investment analysts at Piper Sandler decreased their Q3 2023 earnings per share estimates for shares of Washington Trust Bancorp in a research report issued on Thursday, April 7th. Piper Sandler analyst M. Fitzgibbon now forecasts that the financial services provider will post earnings of $1.15 per share for the quarter, down from their prior estimate of $1.20. Piper Sandler has a “Neutral” rating and a $56.00 price target on the stock. Piper Sandler also issued estimates for Washington Trust Bancorp’s Q4 2023 earnings at $1.16 EPS and FY2023 earnings at $4.40 EPS.

Washington Trust Bancorp (NASDAQ:WASHGet Rating) last released its quarterly earnings data on Wednesday, January 26th. The financial services provider reported $1.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.14. The company had revenue of $58.05 million for the quarter, compared to analysts’ expectations of $55.65 million. Washington Trust Bancorp had a net margin of 31.26% and a return on equity of 13.94%. During the same quarter in the prior year, the firm earned $1.07 EPS.

A number of other equities research analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Washington Trust Bancorp from a “sell” rating to a “hold” rating in a report on Friday, January 7th. StockNews.com began coverage on shares of Washington Trust Bancorp in a research note on Thursday, March 31st. They issued a “hold” rating for the company.

WASH opened at $48.76 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.89 and a quick ratio of 0.89. Washington Trust Bancorp has a fifty-two week low of $46.35 and a fifty-two week high of $60.96. The firm has a market capitalization of $845.06 million, a PE ratio of 11.11 and a beta of 0.74. The company’s 50-day moving average is $53.83 and its 200 day moving average is $55.40.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 8th. Investors of record on Friday, April 1st were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 4.43%. The ex-dividend date was Thursday, March 31st. Washington Trust Bancorp’s dividend payout ratio (DPR) is presently 49.20%.

Large investors have recently made changes to their positions in the business. Coastline Trust Co boosted its holdings in Washington Trust Bancorp by 3.7% in the 3rd quarter. Coastline Trust Co now owns 29,197 shares of the financial services provider’s stock valued at $1,547,000 after purchasing an additional 1,030 shares during the period. M&T Bank Corp boosted its holdings in Washington Trust Bancorp by 7.2% in the 3rd quarter. M&T Bank Corp now owns 8,409 shares of the financial services provider’s stock valued at $445,000 after purchasing an additional 562 shares during the period. Dean Investment Associates LLC boosted its holdings in Washington Trust Bancorp by 6.9% in the 3rd quarter. Dean Investment Associates LLC now owns 52,045 shares of the financial services provider’s stock valued at $2,757,000 after purchasing an additional 3,347 shares during the period. American Century Companies Inc. lifted its holdings in shares of Washington Trust Bancorp by 14.6% during the 3rd quarter. American Century Companies Inc. now owns 36,476 shares of the financial services provider’s stock worth $1,932,000 after acquiring an additional 4,648 shares during the last quarter. Finally, First Republic Investment Management Inc. grew its position in Washington Trust Bancorp by 14.9% in the third quarter. First Republic Investment Management Inc. now owns 5,527 shares of the financial services provider’s stock worth $293,000 after acquiring an additional 718 shares in the last quarter. 76.86% of the stock is owned by hedge funds and other institutional investors.

Washington Trust Bancorp Company Profile (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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Earnings History and Estimates for Washington Trust Bancorp (NASDAQ:WASH)

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