Washington Trust Bancorp, Inc. (NASDAQ:WASH) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Washington Trust Bancorp, Inc. (NASDAQ:WASH) issued its quarterly earnings data on Monday, July 24th. The financial services provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.70 by $0.06, Bloomberg Earnings reports. The firm had revenue of $46.71 million during the quarter. Washington Trust Bancorp had a return on equity of 12.43% and a net margin of 23.86%.

Shares of Washington Trust Bancorp (NASDAQ WASH) traded up 0.41% during trading on Friday, reaching $49.50. The company’s stock had a trading volume of 39,992 shares. The company has a market capitalization of $851.90 million, a price-to-earnings ratio of 17.31 and a beta of 0.73. The firm’s 50-day moving average price is $51.80 and its 200-day moving average price is $51.30. Washington Trust Bancorp has a one year low of $38.92 and a one year high of $58.30.

Separately, BidaskClub raised Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd.

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In other Washington Trust Bancorp news, Chairman Joseph J. Marcaurele sold 5,000 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $52.80, for a total transaction of $264,000.00. Following the completion of the sale, the chairman now directly owns 57,583 shares in the company, valued at approximately $3,040,382.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Over the last quarter, insiders have sold 5,481 shares of company stock valued at $287,630. Company insiders own 2.58% of the company’s stock.

Large investors have recently bought and sold shares of the company. State Street Corp raised its stake in Washington Trust Bancorp by 11.2% in the fourth quarter. State Street Corp now owns 281,985 shares of the financial services provider’s stock valued at $15,806,000 after buying an additional 28,495 shares during the period. Dimensional Fund Advisors LP raised its stake in Washington Trust Bancorp by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 702,985 shares of the financial services provider’s stock valued at $39,403,000 after buying an additional 20,981 shares during the period. AQR Capital Management LLC raised its stake in Washington Trust Bancorp by 61.4% in the fourth quarter. AQR Capital Management LLC now owns 12,567 shares of the financial services provider’s stock valued at $705,000 after buying an additional 4,780 shares during the period. Norges Bank bought a new stake in Washington Trust Bancorp during the fourth quarter valued at approximately $7,339,000. Finally, Teachers Advisors LLC raised its stake in Washington Trust Bancorp by 2.1% in the fourth quarter. Teachers Advisors LLC now owns 28,812 shares of the financial services provider’s stock valued at $1,615,000 after buying an additional 585 shares during the period. Hedge funds and other institutional investors own 58.83% of the company’s stock.

About Washington Trust Bancorp

Washington Trust Bancorp, Inc is a bank holding company and financial holding company. The Company is a holding company of The Washington Trust Company, of Westerly (the Bank), a Rhode Island chartered commercial bank. The Company operates through two business segments: Commercial Banking and Wealth Management Services.

Earnings History for Washington Trust Bancorp (NASDAQ:WASH)

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