Washington Trust Bancorp (WASH) Scheduled to Post Quarterly Earnings on Monday

Washington Trust Bancorp (NASDAQ:WASH) is scheduled to be announcing its earnings results before the market opens on Monday, April 22nd. Analysts expect the company to announce earnings of $0.43 per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

Washington Trust Bancorp (NASDAQ:WASH) last announced its earnings results on Wednesday, January 24th. The financial services provider reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.22. Washington Trust Bancorp had a net margin of 13.19% and a return on equity of 10.53%. The firm had revenue of $45.96 million during the quarter, compared to the consensus estimate of $47.38 million. On average, analysts expect Washington Trust Bancorp to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Washington Trust Bancorp Trading Up 3.7 %

Shares of WASH stock opened at $25.55 on Friday. The firm has a 50-day moving average price of $25.82 and a 200 day moving average price of $27.19. Washington Trust Bancorp has a twelve month low of $21.69 and a twelve month high of $33.96. The company has a market capitalization of $435.19 million, a price-to-earnings ratio of 9.09 and a beta of 0.81. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 2.57.

Washington Trust Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Monday, April 1st were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 8.77%. The ex-dividend date was Thursday, March 28th. Washington Trust Bancorp’s payout ratio is 79.72%.

Analyst Ratings Changes

Separately, Seaport Res Ptn downgraded shares of Washington Trust Bancorp from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 31st.

Institutional Trading of Washington Trust Bancorp

A number of hedge funds have recently made changes to their positions in WASH. BlackRock Inc. grew its position in shares of Washington Trust Bancorp by 24.1% during the first quarter. BlackRock Inc. now owns 1,968,441 shares of the financial services provider’s stock worth $68,226,000 after buying an additional 382,778 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of Washington Trust Bancorp during the third quarter worth approximately $4,113,000. Norges Bank acquired a new stake in shares of Washington Trust Bancorp during the fourth quarter worth approximately $5,243,000. State Street Corp grew its position in shares of Washington Trust Bancorp by 19.5% during the second quarter. State Street Corp now owns 618,255 shares of the financial services provider’s stock worth $16,921,000 after buying an additional 100,822 shares in the last quarter. Finally, Millennium Management LLC grew its position in shares of Washington Trust Bancorp by 187.4% during the fourth quarter. Millennium Management LLC now owns 130,251 shares of the financial services provider’s stock worth $6,145,000 after buying an additional 84,925 shares in the last quarter. Institutional investors and hedge funds own 65.81% of the company’s stock.

Washington Trust Bancorp Company Profile

Washington Trust Bancorp, Inc operates as the bank holding company for The Washington Trust Company, of Westerly that provides 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 offers deposit accounts, including interest-bearing and noninterest-bearing demand deposits, NOW and savings accounts, money market and retirement deposit accounts, and time deposits; various commercial and retail lending products, such as commercial real estate loans, including commercial mortgages, and construction and development loans; commercial and industrial loans comprising working capital, equipment financing, and financing for other business-related purposes; 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.