Washington Trust Bancorp (WASH) Projected to Post Quarterly Earnings on Wednesday

Washington Trust Bancorp (NASDAQ:WASH) will likely be posting its quarterly earnings results before the market opens on Wednesday, January 22nd. Analysts expect Washington Trust Bancorp to post earnings of $0.57 per share and revenue of $31,740.00 billion for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Washington Trust Bancorp (NASDAQ:WASH) last posted its earnings results on Monday, October 21st. The financial services provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.08. The business had revenue of $103.86 million during the quarter, compared to the consensus estimate of $47.32 million. Washington Trust Bancorp had a net margin of 11.24% and a return on equity of 9.55%. During the same quarter in the previous year, the firm posted $0.65 EPS. On average, analysts expect Washington Trust Bancorp to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Washington Trust Bancorp Price Performance

NASDAQ WASH opened at $32.83 on Monday. The company has a debt-to-equity ratio of 2.63, a current ratio of 1.10 and a quick ratio of 1.10. Washington Trust Bancorp has a 1-year low of $24.11 and a 1-year high of $40.59. The stock has a market capitalization of $632.31 million, a price-to-earnings ratio of 12.30 and a beta of 0.81. The business’s fifty day moving average price is $34.34 and its 200-day moving average price is $32.59.

Washington Trust Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 6.82%. The ex-dividend date was Thursday, January 2nd. Washington Trust Bancorp’s dividend payout ratio is 83.90%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Piper Sandler raised shares of Washington Trust Bancorp from an “underweight” rating to a “neutral” rating and upped their price target for the company from $30.00 to $34.00 in a research report on Tuesday, October 22nd. StockNews.com downgraded shares of Washington Trust Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, January 11th.

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.