Seaport Res Ptn Research Analysts Lift Earnings Estimates for Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Washington Trust Bancorp, Inc. (NASDAQ:WASH) – Stock analysts at Seaport Res Ptn increased their Q2 2024 earnings per share estimates for Washington Trust Bancorp in a research note issued on Thursday, April 25th. Seaport Res Ptn analyst L. Hunsicker now expects that the financial services provider will post earnings of $0.50 per share for the quarter, up from their prior estimate of $0.41. Seaport Res Ptn currently has a “Neutral” rating on the stock. The consensus estimate for Washington Trust Bancorp’s current full-year earnings is $2.09 per share. Seaport Res Ptn also issued estimates for Washington Trust Bancorp’s Q3 2024 earnings at $0.47 EPS and FY2024 earnings at $2.07 EPS.

Separately, StockNews.com upgraded Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, April 25th.

Washington Trust Bancorp Price Performance

Shares of NASDAQ:WASH opened at $25.68 on Monday. The company’s 50 day moving average is $25.76 and its 200 day moving average is $27.21. The company has a market cap of $437.33 million, a PE ratio of 9.69 and a beta of 0.81. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 2.57. Washington Trust Bancorp has a twelve month low of $21.69 and a twelve month high of $33.96.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Barrett & Company Inc. boosted its stake in Washington Trust Bancorp by 37.7% during the third quarter. Barrett & Company Inc. now owns 4,010 shares of the financial services provider’s stock worth $106,000 after buying an additional 1,097 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Washington Trust Bancorp during the fourth quarter worth about $179,000. Quest Partners LLC purchased a new position in Washington Trust Bancorp during the fourth quarter worth about $186,000. Retirement Planning Co of New England Inc. acquired a new position in Washington Trust Bancorp in the 3rd quarter valued at about $240,000. Finally, EP Wealth Advisors LLC acquired a new stake in shares of Washington Trust Bancorp during the 4th quarter worth approximately $259,000. 65.81% of the stock is currently owned by institutional investors and hedge funds.

Washington Trust Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Monday, April 1st were issued a $0.56 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.24 dividend on an annualized basis and a yield of 8.72%. Washington Trust Bancorp’s payout ratio is 82.66%.

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.