Q2 2024 EPS Estimates for Washington Trust Bancorp, Inc. Increased by Analyst (NASDAQ:WASH)

Washington Trust Bancorp, Inc. (NASDAQ:WASH) – Investment analysts at Seaport Res Ptn lifted their Q2 2024 earnings estimates for Washington Trust Bancorp in a report released on Thursday, April 25th. Seaport Res Ptn analyst L. Hunsicker now expects that the financial services provider will post earnings per share of $0.50 for the quarter, up from their previous forecast of $0.41. Seaport Res Ptn currently has a “Neutral” rating on the stock. The consensus estimate for Washington Trust Bancorp’s current full-year earnings is $2.09 per share. Seaport Res Ptn also issued estimates for Washington Trust Bancorp’s Q3 2024 earnings at $0.47 EPS and FY2024 earnings at $2.07 EPS.

Separately, StockNews.com raised shares of Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday.

Washington Trust Bancorp Stock Performance

Shares of WASH opened at $26.14 on Monday. The company’s 50 day moving average price is $25.76 and its 200 day moving average price is $27.21. Washington Trust Bancorp has a 52 week low of $21.69 and a 52 week high of $33.96. The company has a market capitalization of $445.24 million, a PE ratio of 9.65 and a beta of 0.81. The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.07 and a current ratio of 1.07.

Washington Trust Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Monday, April 1st were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 8.57%. The ex-dividend date of this dividend was Thursday, March 28th. Washington Trust Bancorp’s dividend payout ratio is 82.66%.

Institutional Trading of Washington Trust Bancorp

A number of hedge funds have recently modified their holdings of the company. Crestwood Advisors Group LLC bought a new position in Washington Trust Bancorp during the 3rd quarter worth $2,512,000. Third Avenue Management LLC raised its holdings in Washington Trust Bancorp by 44.5% during the 3rd quarter. Third Avenue Management LLC now owns 294,994 shares of the financial services provider’s stock worth $8,050,000 after purchasing an additional 90,842 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Washington Trust Bancorp by 9.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 774,705 shares of the financial services provider’s stock valued at $25,086,000 after buying an additional 68,930 shares during the period. Napatree Capital LLC acquired a new position in shares of Washington Trust Bancorp in the 4th quarter valued at about $1,813,000. Finally, Drexel Morgan & Co. lifted its stake in Washington Trust Bancorp by 22.8% in the fourth quarter. Drexel Morgan & Co. now owns 167,123 shares of the financial services provider’s stock valued at $5,411,000 after buying an additional 31,000 shares during the period. 65.81% of the stock is currently owned by institutional investors and hedge funds.

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.