Washington Trust Bancorp (WASH) to Release Earnings on Monday

Washington Trust Bancorp (NASDAQ:WASHGet Rating) is scheduled to be posting its quarterly earnings results before the market opens on Monday, April 25th. Analysts expect Washington Trust Bancorp to post earnings of $0.89 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Washington Trust Bancorp (NASDAQ:WASHGet Rating) last announced its quarterly earnings results on Wednesday, January 26th. The financial services provider reported $1.15 earnings per share (EPS) 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 business had revenue of $58.05 million for the quarter, compared to the consensus estimate of $55.65 million. During the same period last year, the business posted $1.07 EPS. On average, analysts expect Washington Trust Bancorp to post $4 EPS for the current fiscal year and $4 EPS 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 business’s fifty 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-to-equity ratio of 0.30.

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

Several hedge funds have recently modified their holdings of WASH. Norges Bank acquired a new stake in Washington Trust Bancorp in the fourth quarter valued at about $8,131,000. Barclays PLC lifted its position in shares of Washington Trust Bancorp by 7.9% during the 4th quarter. Barclays PLC now owns 39,995 shares of the financial services provider’s stock valued at $2,254,000 after acquiring an additional 2,940 shares during the period. BlackRock Inc. lifted its position in shares of Washington Trust Bancorp by 2.0% during the 4th quarter. BlackRock Inc. now owns 1,540,201 shares of the financial services provider’s stock valued at $86,820,000 after acquiring an additional 29,642 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Washington Trust Bancorp by 5.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 11,337 shares of the financial services provider’s stock valued at $639,000 after acquiring an additional 625 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Washington Trust Bancorp by 0.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 337,560 shares of the financial services provider’s stock valued at $19,029,000 after acquiring an additional 3,098 shares during the period. 76.86% of the stock is currently owned by institutional investors.

A number of brokerages have recently issued reports on WASH. StockNews.com started coverage on Washington Trust Bancorp in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Piper Sandler cut Washington Trust Bancorp from an “overweight” rating to a “neutral” rating and set a $56.00 price objective for the company. in a report on Thursday, April 7th. Finally, Zacks Investment Research raised Washington Trust Bancorp from a “sell” rating to a “hold” rating in a report on Friday, January 7th.

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.

Further Reading

Earnings History for Washington Trust Bancorp (NASDAQ:WASH)

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