Brokerages Anticipate Washington Trust Bancorp, Inc. (NASDAQ:WASH) to Announce $0.91 EPS

Brokerages expect Washington Trust Bancorp, Inc. (NASDAQ:WASHGet Rating) to announce earnings of $0.91 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Washington Trust Bancorp’s earnings. The lowest EPS estimate is $0.89 and the highest is $0.92. Washington Trust Bancorp posted earnings per share of $1.00 in the same quarter last year, which would indicate a negative year over year growth rate of 9%. The company is scheduled to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Washington Trust Bancorp will report full-year earnings of $3.82 per share for the current year, with EPS estimates ranging from $3.79 to $3.85. For the next fiscal year, analysts anticipate that the business will post earnings of $4.30 per share, with EPS estimates ranging from $4.15 to $4.44. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Washington Trust Bancorp.

Washington Trust Bancorp (NASDAQ:WASHGet Rating) last released its earnings results on Monday, April 25th. The financial services provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.91 by $0.03. Washington Trust Bancorp had a net margin of 30.69% and a return on equity of 13.35%. The firm had revenue of $52.25 million during the quarter, compared to analysts’ expectations of $53.40 million. During the same period in the previous year, the company earned $1.17 EPS.

A number of equities research analysts have recently commented on the company. Piper Sandler downgraded Washington Trust Bancorp from an “overweight” rating to a “neutral” rating and set a $56.00 price objective for the company. in a research report on Thursday, April 7th. StockNews.com assumed coverage on Washington Trust Bancorp in a research report on Thursday, March 31st. They issued a “hold” rating for the company.

Shares of NASDAQ:WASH opened at $50.09 on Friday. The company has a market cap of $869.06 million, a P/E ratio of 12.04 and a beta of 0.76. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.15. Washington Trust Bancorp has a 52 week low of $45.60 and a 52 week high of $60.96. The business has a fifty day simple moving average of $49.23 and a 200-day simple moving average of $53.64.

The company also recently declared a quarterly dividend, which was paid on Friday, April 8th. Shareholders of record on Friday, April 1st were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date was Thursday, March 31st. Washington Trust Bancorp’s dividend payout ratio (DPR) is presently 51.92%.

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. lifted its stake in shares of Washington Trust Bancorp by 2.0% during the fourth quarter. BlackRock Inc. now owns 1,540,201 shares of the financial services provider’s stock worth $86,820,000 after purchasing an additional 29,642 shares in the last quarter. Franklin Resources Inc. increased its holdings in Washington Trust Bancorp by 0.3% in the third quarter. Franklin Resources Inc. now owns 974,434 shares of the financial services provider’s stock valued at $51,626,000 after buying an additional 3,211 shares during the last quarter. Vanguard Group Inc. increased its holdings in Washington Trust Bancorp by 4.0% in the first quarter. Vanguard Group Inc. now owns 958,238 shares of the financial services provider’s stock valued at $50,306,000 after buying an additional 37,258 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Washington Trust Bancorp by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 705,739 shares of the financial services provider’s stock valued at $37,052,000 after buying an additional 17,613 shares during the last quarter. Finally, WASHINGTON TRUST Co increased its holdings in Washington Trust Bancorp by 0.7% in the fourth quarter. WASHINGTON TRUST Co now owns 683,713 shares of the financial services provider’s stock valued at $38,541,000 after buying an additional 5,073 shares during the last quarter. 77.37% of the stock is owned by hedge funds and other institutional investors.

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

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