Washington Trust Bancorp (NASDAQ: WASH – Get a rating) will release its earnings data after the market closes on Monday, July 25. Analysts expect Washington Trust Bancorp to post earnings of $0.91 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.
Washington Trust Bancorp (NASDAQ: WASH – Get a rating) last released its results on Monday, April 25. The financial services provider reported earnings per share of $0.94 for the quarter, beating the consensus estimate of $0.91 by $0.03. The company posted revenue of $52.25 million in the quarter, compared to analyst estimates of $53.40 million. Washington Trust Bancorp had a net margin of 30.69% and a return on equity of 13.35%. During the same period of the previous year, the company achieved EPS of $1.17. On average, analysts expect Washington Trust Bancorp to post EPS of $4 for the current fiscal year and EPS of $4 for the next fiscal year.
Washington Trust Bancorp Price Performance
NASDAQ WASH shares opened at $48.85 on Monday. Washington Trust Bancorp has a one-year minimum of $45.60 and a one-year maximum of $60.96. The company has a market capitalization of $847.74 million, a PE ratio of 11.74 and a beta of 0.74. The company has a fifty-day moving average of $48.59 and a 200-day moving average of $52.14. The company has a debt ratio of 0.15, a quick ratio of 0.87 and a current ratio of 0.88.
Washington Trust Bancorp Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, July 8. Shareholders of record on Friday, July 1 received a dividend of $0.54. The ex-dividend date was Thursday, June 30. This represents a dividend of $2.16 on an annualized basis and a yield of 4.42%. Washington Trust Bancorp’s payout ratio is currently 51.92%.
Institutional entries and exits
A number of hedge funds have recently changed their positions in the business. Vanguard Group Inc. increased its position in Washington Trust Bancorp by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 958,238 shares of the financial services provider worth $50,306,000 after buying an additional 37,258 shares last quarter. Dimensional Fund Advisors LP increased its position in Washington Trust Bancorp by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 705,739 shares of the financial services provider worth $37,052,000 after acquiring 17,613 additional shares in the last quarter. State Street Corp increased its position in Washington Trust Bancorp by 15.0% in the first quarter. State Street Corp now owns 515,243 shares of the financial services provider worth $27,326,000 after acquiring an additional 67,339 shares last quarter. Charles Schwab Investment Management Inc. increased its stake in Washington Trust Bancorp by 12.5% in Q1. Charles Schwab Investment Management Inc. now owns 136,326 shares of the financial services provider worth $7,158,000 after buying an additional 15,098 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Washington Trust Bancorp by 1.6% during the 1st quarter. Invesco Ltd. now owns 30,926 shares of the financial services provider worth $1,624,000 after buying an additional 496 shares in the last quarter. Hedge funds and other institutional investors own 77.37% of the company’s shares.
Wall Street analysts predict growth
A number of analysts have released reports on the stock. Piper Sandler downgraded shares of Washington Trust Bancorp from an “overweight” rating to a “neutral” rating and set a price target of $56.00 for the stock. in a research note on Thursday, April 7. StockNews.com downgraded Washington Trust Bancorp from a “hold” rating to a “sell” rating in a Friday, July 8 report.
Washington Trust Bancorp Company Profile
Washington Trust Bancorp, Inc. operates as a bank holding company for The Washington Trust Company, of Westerly, which provides various banking and financial services to individuals and businesses. The Company operates in two segments, commercial banking services and wealth management services. The Commercial Banking segment offers 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 which consist of homeowner mortgages and construction loans; and consumer loans including home equity loans and lines of credit, personal installment loans and personal loans secured by general aviation aircraft.
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