Wall Street analysts predict that Washington Trust Bancorp, Inc. (NASDAQ: WASH – Get a rating) will report earnings per share of $0.91 for the current fiscal quarter, Zacks 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 of $1.00 per share in the same quarter last year, suggesting a negative 9% year-over-year growth rate. The company is expected to release its next 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 earnings per share averages are an average average based on a survey of research analysts who follow Washington Trust Bancorp.
Washington Trust Bancorp (NASDAQ: WASH – Get a rating) last announced 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%. In the same quarter a year earlier, the company posted earnings per share of $1.17.
WASH has been the subject of a number of recent analyst reports. Piper Sandler downgraded shares of Washington Trust Bancorp from an “overweight” rating to a “neutral” rating and set a target price of $56.00 for the stock. in a research note on Thursday, April 7. StockNews.com launched a hedge on shares of Washington Trust Bancorp in a research note on Thursday, March 31. They have placed a “holding” rating on the stock.
Hedge funds and other institutional investors have recently been buying and selling shares of the company. CWM LLC bought a new position in Washington Trust Bancorp in Q4 worth around $40,000. Lazard Asset Management LLC increased its position in Washington Trust Bancorp by 335.5% in the fourth quarter. Lazard Asset Management LLC now owns 858 shares of the financial services provider worth $48,000 after purchasing an additional 661 shares in the last quarter. Great West Life Assurance Co. Can increased its position in Washington Trust Bancorp by 27.2% in the first quarter. Great West Life Assurance Co. Can now owns 1,530 shares of the financial services provider worth $84,000 after buying 327 additional shares in the last quarter. GSA Capital Partners LLP bought a new position in Washington Trust Bancorp in Q4 worth approximately $204,000. Finally, Bradley Foster & Sargent Inc. CT bought a new position in Washington Trust Bancorp in Q4 worth approximately $209,000. Hedge funds and other institutional investors own 77.37% of the company’s shares.
Shares of WASH inventory opened at $47.24 on Friday. The company has a market capitalization of $819.61 million, a P/E ratio of 11.36 and a beta of 0.76. The company’s fifty-day moving average price is $50.94 and its two-hundred-day moving average price is $54.55. The company has a debt ratio of 0.15, a current ratio of 0.88 and a quick ratio of 0.87. Washington Trust Bancorp has a 12-month low of $46.35 and a 12-month high of $60.96.
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 per share. The ex-dividend date was Thursday, March 31. This represents an annualized dividend of $2.16 and a yield of 4.57%. Washington Trust Bancorp’s dividend payout ratio (DPR) is 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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