Washington Trust Bancorp (WASH) to Release Earnings on Monday

Washington Trust Bancorp (NASDAQ:WASH) will be posting its quarterly earnings results before the market opens on Monday, April 22nd. Analysts expect Washington Trust Bancorp to post earnings of $0.43 per share for the quarter.

Washington Trust Bancorp (NASDAQ:WASH) last released its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.22. Washington Trust Bancorp had a net margin of 13.19% and a return on equity of 10.53%. The company had revenue of $45.96 million for the quarter, compared to analyst estimates of $47.38 million. On average, analysts expect Washington Trust Bancorp to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Washington Trust Bancorp Stock Performance

Shares of NASDAQ:WASH traded down $0.04 during trading on Monday, reaching $24.88. The stock had a trading volume of 19,094 shares, compared to its average volume of 88,113. Washington Trust Bancorp has a 52 week low of $21.69 and a 52 week high of $33.96. The firm has a market capitalization of $423.71 million, a price-to-earnings ratio of 8.82 and a beta of 0.81. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 2.57. The stock has a fifty day simple moving average of $25.96 and a two-hundred day simple moving average of $27.27.

Washington Trust Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Monday, April 1st were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 9.00%. The ex-dividend date of this dividend was Thursday, March 28th. Washington Trust Bancorp’s dividend payout ratio is 79.72%.

Institutional Investors Weigh In On Washington Trust Bancorp

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its stake in Washington Trust Bancorp by 14.3% during the second quarter. BlackRock Inc. now owns 2,249,920 shares of the financial services provider’s stock worth $60,320,000 after buying an additional 281,479 shares in the last quarter. FMR LLC boosted its stake in shares of Washington Trust Bancorp by 1.1% in the 1st quarter. FMR LLC now owns 1,266,971 shares of the financial services provider’s stock valued at $43,913,000 after purchasing an additional 13,460 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Washington Trust Bancorp by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 966,273 shares of the financial services provider’s stock valued at $31,288,000 after purchasing an additional 22,169 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Washington Trust Bancorp by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 832,005 shares of the financial services provider’s stock valued at $28,837,000 after purchasing an additional 16,594 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Washington Trust Bancorp by 19.5% in the 2nd quarter. State Street Corp now owns 618,255 shares of the financial services provider’s stock valued at $16,921,000 after purchasing an additional 100,822 shares in the last quarter. Institutional investors and hedge funds own 65.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Seaport Res Ptn downgraded shares of Washington Trust Bancorp from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 31st.

Washington Trust Bancorp Company Profile

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.