Washington Trust Bancorp (WASH) to Release 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.

Washington Trust Bancorp (NASDAQ:WASH) last posted its quarterly earnings results on Monday, October 21st. The financial services provider reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.08. Washington Trust Bancorp had a net margin of 11.24% and a return on equity of 9.55%. The firm had revenue of $103.86 million during the quarter, compared to the consensus estimate of $47.32 million. During the same quarter in the previous year, the firm posted $0.65 earnings per share. 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 Stock Up 2.8 %

Shares of WASH stock traded up $0.88 during mid-day trading on Wednesday, hitting $32.25. The stock had a trading volume of 223,392 shares, compared to its average volume of 222,655. 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 12-month low of $24.11 and a 12-month high of $40.59. The firm’s 50-day moving average is $34.72 and its two-hundred day moving average is $32.47. The firm has a market capitalization of $621.04 million, a P/E ratio of 12.08 and a beta of 0.81.

Washington Trust Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 6.95%. The ex-dividend date of this dividend is Thursday, January 2nd. Washington Trust Bancorp’s payout ratio is 83.90%.

Analysts Set New Price Targets

WASH has been the subject of a number of analyst reports. Piper Sandler upgraded Washington Trust Bancorp from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $30.00 to $34.00 in a research note on Tuesday, October 22nd. StockNews.com downgraded Washington Trust Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday.

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.