Stock analysts expect Washington Trust Bancorp, Inc. (NASDAQ:WASH – Get a rating) to show earnings per share of $0.91 for the current quarter, Zacks Investment Research reports. Two analysts provided earnings estimates for Washington Trust Bancorp. The highest EPS estimate is $0.92 and the lowest is $0.89. Washington Trust Bancorp posted earnings per share of $1.00 in the same quarter last year, indicating a negative 9% year-over-year growth rate. The company is expected to announce its next quarterly earnings report on Monday, January 1.
According to Zacks, analysts expect Washington Trust Bancorp to report annual earnings of $3.82 per share for the current year, with EPS estimates ranging from $3.79 to $3.85. For the next fiscal year, analysts expect the company to post earnings of $4.30 per share, with EPS estimates ranging from $4.15 to $4.44. Zacks Investment Research’s EPS calculations are an average average based on a survey of analysts who provide coverage for Washington Trust Bancorp.
Washington Trust Bancorp (NASDAQ: WASH – Get a rating) last released its quarterly results on Monday, April 25. The financial services provider reported earnings per share of $0.94 for the quarter, beating analyst consensus estimates of $0.92 by $0.02. Washington Trust Bancorp had a net margin of 30.69% and a return on equity of 13.35%. During the same period a year earlier, the company posted EPS of $1.17.
Several research companies have recently looked into WASH. StockNews.com assumed coverage of Washington Trust Bancorp shares in a Thursday, March 31, report. They set a “hold” rating for the company. Piper Sandler cut Washington Trust Bancorp shares from an “overweight” rating to a “neutral” rating and set a price target of $56.00 for the stock. in a research report on Thursday, April 7.
Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its holdings of Washington Trust Bancorp shares by 2.0% in the fourth quarter. BlackRock Inc. now owns 1,540,201 shares of the financial services provider valued at $86,820,000 after purchasing an additional 29,642 shares during the period. Franklin Resources Inc. increased its holdings of Washington Trust Bancorp shares by 0.3% in the third quarter. Franklin Resources Inc. now owns 974,434 shares of the financial services provider valued at $51,626,000 after purchasing an additional 3,211 shares during the period. Dimensional Fund Advisors LP increased its holdings of Washington Trust Bancorp shares by 0.4% in Q3. Dimensional Fund Advisors LP now owns 695,336 shares of the financial services provider valued at $36,840,000 after purchasing an additional 2,525 shares during the period. WASHINGTON TRUST Co increased its holdings of Washington Trust Bancorp shares by 0.7% in the fourth quarter. WASHINGTON TRUST Co now owns 683,713 shares of the financial services provider valued at $38,541,000 after purchasing an additional 5,073 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Washington Trust Bancorp by 1.3% during the 4th quarter. JPMorgan Chase & Co. now owns 477,109 shares of the financial services provider worth $26,894,000 after purchasing an additional 6,103 shares during the period. Hedge funds and other institutional investors own 77.37% of the company’s shares.
WASH opened at $47.24 on Friday. Washington Trust Bancorp has a 12-month low of $46.35 and a 12-month high of $60.96. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt ratio of 0.15. The company has a market capitalization of $819.61 million, a PE ratio of 11.36 and a beta of 0.76. The company has a 50-day moving average of $50.94 and a two-hundred-day moving average of $54.55.
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 8. Investors of record on Friday, April 1 received a dividend of $0.54. The ex-dividend date was Thursday, March 31. This represents an annualized dividend of $2.16 and a dividend yield of 4.57%. Washington Trust Bancorp’s dividend payout ratio is currently 51.92%.
About Washington Trust Bancorp (Get a rating)
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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