$0.91 EPS Expected for Washington Trust Bancorp, Inc. (NASDAQ:WASH) This Quarter

Wall Street brokerages forecast that Washington Trust Bancorp, Inc. (NASDAQ:WASHGet Rating) will post $0.91 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Washington Trust Bancorp’s earnings, with the highest EPS estimate coming in at $0.92 and the lowest estimate coming in at $0.90. Washington Trust Bancorp reported earnings per share of $1.17 during the same quarter last year, which suggests a negative year-over-year growth rate of 22.2%. The company is scheduled to issue its next earnings report before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Washington Trust Bancorp will report full-year earnings of $3.78 per share for the current financial year, with EPS estimates ranging from $3.68 to $3.87. For the next financial year, analysts forecast that the company will report earnings of $4.13 per share, with EPS estimates ranging from $3.85 to $4.40. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that follow Washington Trust Bancorp.

Washington Trust Bancorp (NASDAQ:WASHGet Rating) last announced its earnings results on Wednesday, January 26th. The financial services provider reported $1.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.14. The company had revenue of $58.05 million during the quarter, compared to analyst estimates 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 last year, the firm posted $1.07 earnings per share.

WASH has been the topic of several research reports. StockNews.com initiated coverage on shares of Washington Trust Bancorp in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research raised shares of Washington Trust Bancorp from a “sell” rating to a “hold” rating in a report on Friday, January 7th. Finally, Piper Sandler cut shares of Washington Trust Bancorp from an “overweight” rating to a “neutral” rating and set a $56.00 target price on the stock. in a report on Thursday, April 7th.

A number of hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Washington Trust Bancorp by 270.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,704 shares of the financial services provider’s stock worth $246,000 after purchasing an additional 3,434 shares in the last quarter. Boston Trust Walden Corp raised its holdings in Washington Trust Bancorp by 2.1% during the first quarter. Boston Trust Walden Corp now owns 323,337 shares of the financial services provider’s stock worth $16,975,000 after purchasing an additional 6,652 shares in the last quarter. Bradley Foster & Sargent Inc. CT acquired a new stake in Washington Trust Bancorp during the fourth quarter worth approximately $209,000. Norges Bank acquired a new stake in Washington Trust Bancorp during the fourth quarter worth approximately $8,131,000. Finally, Barclays PLC raised its holdings in Washington Trust Bancorp by 7.9% during the fourth quarter. Barclays PLC now owns 39,995 shares of the financial services provider’s stock worth $2,254,000 after purchasing an additional 2,940 shares in the last quarter. 76.86% of the stock is currently owned by institutional investors.

WASH stock traded down $0.82 during mid-day trading on Friday, hitting $49.69. 38,932 shares of the company were exchanged, compared to its average volume of 57,165. The firm has a market capitalization of $861.18 million, a P/E ratio of 11.32 and a beta of 0.74. Washington Trust Bancorp has a 12-month low of $46.35 and a 12-month high of $60.96. 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 has a fifty day simple moving average of $52.84 and a 200-day simple moving average of $55.19.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 8th. Shareholders of record on Friday, April 1st were issued a dividend of $0.54 per share. The ex-dividend date of this dividend was Thursday, March 31st. This represents a $2.16 dividend on an annualized basis and a yield of 4.35%. Washington Trust Bancorp’s payout ratio is currently 49.20%.

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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