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

Washington Trust Bancorp (NASDAQ:WASH) is scheduled to 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. Individual interested in participating in the company’s earnings conference call can do so using this link.

Washington Trust Bancorp (NASDAQ:WASH) last issued its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.22. The firm had revenue of $45.96 million during the quarter, compared to analysts’ expectations 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 Trading Up 3.7 %

Shares of NASDAQ WASH opened at $25.55 on Friday. The business has a fifty day moving average price of $25.82 and a 200 day moving average price of $27.19. Washington Trust Bancorp has a 1-year low of $21.69 and a 1-year high of $33.96. The stock has a market capitalization of $435.19 million, a P/E ratio of 9.09 and a beta of 0.81. The company has a debt-to-equity ratio of 2.57, a current ratio of 1.07 and a quick ratio of 1.07.

Washington Trust Bancorp Dividend Announcement

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

Analyst Ratings Changes

Separately, Seaport Res Ptn lowered Washington Trust Bancorp from a “buy” rating to a “neutral” rating in a report on Wednesday, January 31st.

Institutional Trading of Washington Trust Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its position in Washington Trust Bancorp by 24.1% during the first quarter. BlackRock Inc. now owns 1,968,441 shares of the financial services provider’s stock worth $68,226,000 after purchasing an additional 382,778 shares in the last quarter. AQR Capital Management LLC purchased a new position in shares of Washington Trust Bancorp in the third quarter valued at approximately $4,113,000. Norges Bank purchased a new position in shares of Washington Trust Bancorp in the fourth quarter valued at approximately $5,243,000. State Street Corp lifted its position in shares of Washington Trust Bancorp by 19.5% in the second quarter. State Street Corp now owns 618,255 shares of the financial services provider’s stock valued at $16,921,000 after acquiring an additional 100,822 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of Washington Trust Bancorp by 187.4% in the fourth quarter. Millennium Management LLC now owns 130,251 shares of the financial services provider’s stock valued at $6,145,000 after acquiring an additional 84,925 shares in the last quarter. 65.81% of the stock is owned by institutional investors and hedge funds.

About Washington Trust Bancorp

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.