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

Washington Trust Bancorp, Inc. (NASDAQ:WASH) – Investment analysts at Seaport Res Ptn decreased their Q4 2024 earnings estimates for Washington Trust Bancorp in a report issued on Thursday, April 25th. Seaport Res Ptn analyst L. Hunsicker now expects that the financial services provider will earn $0.45 per share for the quarter, down from their prior estimate of $0.48. Seaport Res Ptn currently has a “Neutral” rating on the stock. The consensus estimate for Washington Trust Bancorp’s current full-year earnings is $1.91 per share. Seaport Res Ptn also issued estimates for Washington Trust Bancorp’s Q1 2025 earnings at $0.47 EPS, Q2 2025 earnings at $0.53 EPS, Q3 2025 earnings at $0.55 EPS, Q4 2025 earnings at $0.55 EPS and FY2025 earnings at $2.10 EPS.

Separately, StockNews.com upgraded shares of Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday.

Washington Trust Bancorp Stock Down 1.8 %

WASH stock opened at $25.99 on Friday. The company’s 50 day moving average price is $25.81 and its 200 day moving average price is $27.21. The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.07 and a current ratio of 1.07. Washington Trust Bancorp has a fifty-two week low of $21.69 and a fifty-two week high of $33.96. The firm has a market capitalization of $442.61 million, a price-to-earnings ratio of 9.59 and a beta of 0.81.

Washington Trust Bancorp (NASDAQ:WASH) last released its earnings results 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. Washington Trust Bancorp had a net margin of 12.01% and a return on equity of 10.18%. The firm had revenue of $45.96 million for the quarter, compared to analyst estimates of $47.38 million.

Hedge Funds Weigh In On Washington Trust Bancorp

Several hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. increased its stake in Washington Trust Bancorp by 3.6% in the third quarter. PNC Financial Services Group Inc. now owns 20,575 shares of the financial services provider’s stock valued at $542,000 after purchasing an additional 715 shares during the last quarter. New England Professional Planning Group Inc. increased its stake in Washington Trust Bancorp by 10.8% in the first quarter. New England Professional Planning Group Inc. now owns 10,528 shares of the financial services provider’s stock valued at $283,000 after purchasing an additional 1,027 shares during the last quarter. Barrett & Company Inc. increased its stake in Washington Trust Bancorp by 37.7% in the third quarter. Barrett & Company Inc. now owns 4,010 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 1,097 shares during the last quarter. Kestra Private Wealth Services LLC increased its stake in Washington Trust Bancorp by 5.3% in the fourth quarter. Kestra Private Wealth Services LLC now owns 29,451 shares of the financial services provider’s stock valued at $954,000 after purchasing an additional 1,477 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its stake in Washington Trust Bancorp by 52.8% in the fourth quarter. Quadrant Capital Group LLC now owns 9,869 shares of the financial services provider’s stock valued at $320,000 after purchasing an additional 3,410 shares during the last quarter. 65.81% of the stock is currently owned by hedge funds and other institutional investors.

Washington Trust Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Monday, April 1st were paid a $0.56 dividend. The ex-dividend date was Thursday, March 28th. This represents a $2.24 annualized dividend and a yield of 8.62%. Washington Trust Bancorp’s dividend payout ratio is currently 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.