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

Washington Trust Bancorp (NASDAQ:WASHGet Rating) will be releasing its earnings data before the market opens on Monday, April 25th. Analysts expect Washington Trust Bancorp to post earnings of $0.89 per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Washington Trust Bancorp (NASDAQ:WASHGet Rating) last announced its quarterly earnings results on Wednesday, January 26th. The financial services provider reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.14. Washington Trust Bancorp had a net margin of 31.26% and a return on equity of 13.94%. The company had revenue of $58.05 million for the quarter, compared to the consensus estimate of $55.65 million. During the same period in the previous year, the firm posted $1.07 EPS. On average, analysts expect Washington Trust Bancorp to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Washington Trust Bancorp stock opened at $49.69 on Friday. The company’s 50-day moving average price is $52.72 and its 200-day moving average price is $55.16. Washington Trust Bancorp has a twelve month low of $46.35 and a twelve 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 company has a market cap of $861.18 million, a PE ratio of 11.32 and a beta of 0.74.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 8th. Stockholders of record on Friday, April 1st were issued a $0.54 dividend. The ex-dividend date was Thursday, March 31st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.35%. Washington Trust Bancorp’s dividend payout ratio (DPR) is presently 49.20%.

WASH has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on shares of Washington Trust Bancorp in a research note on Thursday, March 31st. They set a “hold” rating for the company. Piper Sandler cut shares of 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. Finally, Zacks Investment Research raised shares of Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, January 7th.

Several hedge funds and other institutional investors have recently bought and sold shares of WASH. Norges Bank acquired a new position in Washington Trust Bancorp during the 4th quarter valued at approximately $8,131,000. BlackRock Inc. increased its stake in Washington Trust Bancorp by 2.0% during the 4th quarter. BlackRock Inc. now owns 1,540,201 shares of the financial services provider’s stock valued at $86,820,000 after purchasing an additional 29,642 shares in the last quarter. Wells Fargo & Company MN increased its stake in Washington Trust Bancorp by 168.1% during the 2nd quarter. Wells Fargo & Company MN now owns 18,638 shares of the financial services provider’s stock valued at $957,000 after purchasing an additional 11,687 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of Washington Trust Bancorp in the 4th quarter valued at $602,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Washington Trust Bancorp by 5.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 177,272 shares of the financial services provider’s stock valued at $9,392,000 after acquiring an additional 9,302 shares during the last quarter. Hedge funds and other institutional investors own 76.86% of the company’s stock.

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 for Washington Trust Bancorp (NASDAQ:WASH)

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