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

Washington Trust Bancorp (NASDAQ:WASH) is scheduled to be releasing its earnings data before the market opens on Monday, April 22nd. Analysts expect Washington Trust Bancorp to post earnings of $0.43 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:WASH) last issued its earnings results on Wednesday, January 24th. The financial services provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.54 by $0.22. The firm had revenue of $45.96 million during the quarter, compared to the consensus estimate of $47.38 million. Washington Trust Bancorp had a return on equity of 10.53% and a net margin of 13.19%. 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 Up 3.7 %

Shares of NASDAQ WASH opened at $25.55 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 2.57. The company has a market cap of $435.12 million, a price-to-earnings ratio of 9.09 and a beta of 0.81. Washington Trust Bancorp has a 12 month low of $21.69 and a 12 month high of $33.96. The stock has a 50-day moving average price of $25.82 and a two-hundred day moving average price of $27.21.

Washington Trust Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Monday, April 1st were paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 8.77%. The ex-dividend date of this dividend was Thursday, March 28th. Washington Trust Bancorp’s payout ratio is 79.72%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Washington Trust Bancorp by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 966,273 shares of the financial services provider’s stock valued at $31,288,000 after buying an additional 22,169 shares during the period. Nuveen Asset Management LLC increased its stake in shares of Washington Trust Bancorp by 1.1% in the fourth quarter. Nuveen Asset Management LLC now owns 126,123 shares of the financial services provider’s stock valued at $4,084,000 after buying an additional 1,359 shares during the period. Bridgeway Capital Management LLC increased its stake in shares of Washington Trust Bancorp by 4.2% in the fourth quarter. Bridgeway Capital Management LLC now owns 81,742 shares of the financial services provider’s stock valued at $2,647,000 after buying an additional 3,264 shares during the period. Royal Bank of Canada increased its stake in shares of Washington Trust Bancorp by 27.6% in the fourth quarter. Royal Bank of Canada now owns 11,598 shares of the financial services provider’s stock valued at $375,000 after buying an additional 2,507 shares during the period. Finally, Creative Planning increased its stake in shares of Washington Trust Bancorp by 92.3% in the fourth quarter. Creative Planning now owns 30,892 shares of the financial services provider’s stock valued at $1,000,000 after buying an additional 14,829 shares during the period. Institutional investors and hedge funds own 65.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Seaport Res Ptn downgraded 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.