Seaport Res Ptn Has Positive Outlook of WASH FY2025 Earnings

Washington Trust Bancorp, Inc. (NASDAQ:WASH) – Equities research analysts at Seaport Res Ptn raised their FY2025 earnings per share estimates for Washington Trust Bancorp in a report issued on Wednesday, October 29th. Seaport Res Ptn analyst L. Hunsicker now expects that the financial services provider will post earnings per share of $2.61 for the year, up from their previous estimate of $2.36. The consensus estimate for Washington Trust Bancorp’s current full-year earnings is $2.76 per share. Seaport Res Ptn also issued estimates for Washington Trust Bancorp’s Q4 2026 earnings at $0.85 EPS and FY2026 earnings at $3.29 EPS.

Several other analysts also recently weighed in on WASH. Weiss Ratings reiterated a “hold (c-)” rating on shares of Washington Trust Bancorp in a research report on Wednesday, October 8th. Piper Sandler cut their price target on Washington Trust Bancorp from $28.00 to $27.00 and set an “underweight” rating on the stock in a research note on Thursday, October 9th. Finally, Keefe, Bruyette & Woods raised their price target on Washington Trust Bancorp from $29.00 to $30.00 and gave the company a “market perform” rating in a research note on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $28.33.

Washington Trust Bancorp Stock Down 0.7%

NASDAQ:WASH opened at $27.24 on Friday. Washington Trust Bancorp has a twelve month low of $24.95 and a twelve month high of $40.59. The company has a market cap of $521.78 million, a price-to-earnings ratio of -17.13, a price-to-earnings-growth ratio of 0.87 and a beta of 0.91. The stock has a fifty day simple moving average of $28.71 and a 200-day simple moving average of $28.33. The company has a current ratio of 1.05, a quick ratio of 1.04 and a debt-to-equity ratio of 1.94.

Washington Trust Bancorp (NASDAQ:WASH) last released its earnings results on Monday, October 20th. The financial services provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.10. Washington Trust Bancorp had a positive return on equity of 8.97% and a negative net margin of 6.22%.The business had revenue of $56.47 million during the quarter, compared to the consensus estimate of $56.39 million. During the same period last year, the company earned $0.64 earnings per share.

Hedge Funds Weigh In On Washington Trust Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Washington Trust Bancorp by 8.3% in the first quarter. Vanguard Group Inc. now owns 1,119,395 shares of the financial services provider’s stock valued at $34,545,000 after purchasing an additional 86,062 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Washington Trust Bancorp by 1.4% during the second quarter. Geode Capital Management LLC now owns 473,378 shares of the financial services provider’s stock worth $13,389,000 after acquiring an additional 6,570 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Washington Trust Bancorp by 91.5% during the second quarter. Franklin Resources Inc. now owns 436,454 shares of the financial services provider’s stock worth $12,343,000 after acquiring an additional 208,586 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in shares of Washington Trust Bancorp by 27.4% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 386,110 shares of the financial services provider’s stock worth $11,915,000 after acquiring an additional 82,960 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Washington Trust Bancorp by 3.0% during the second quarter. Invesco Ltd. now owns 304,400 shares of the financial services provider’s stock worth $8,608,000 after acquiring an additional 8,938 shares during the last quarter. Hedge funds and other institutional investors own 65.81% of the company’s stock.

Washington Trust Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 8.2%. The ex-dividend date was Wednesday, October 1st. Washington Trust Bancorp’s payout ratio is -140.88%.

About Washington Trust Bancorp

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.