Washington Trust Bancorp, Inc. (WASH) Issues Earnings Results

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

Shares of Washington Trust Bancorp (NASDAQ WASH) traded up 0.41% during trading on Friday, hitting $49.50. 39,992 shares of the stock traded hands. The firm has a market capitalization of $851.90 million, a price-to-earnings ratio of 17.31 and a beta of 0.73. Washington Trust Bancorp has a 1-year low of $38.92 and a 1-year high of $58.30. The firm has a 50-day moving average of $51.80 and a 200-day moving average of $51.30.

In other news, Chairman Joseph J. Marcaurele sold 5,000 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $52.80, for a total value of $264,000.00. Following the transaction, the chairman now owns 57,583 shares in the company, valued at approximately $3,040,382.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 5,481 shares of company stock worth $287,630 in the last quarter. Company insiders own 2.58% of the company’s stock.

Several institutional investors have recently modified their holdings of WASH. State Street Corp boosted its position in shares of 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 boosted its position in shares of 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 boosted its position in shares of 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 acquired a new position in shares of Washington Trust Bancorp during the fourth quarter valued at $7,339,000. Finally, Teachers Advisors LLC boosted its position in shares of 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.

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

ILLEGAL ACTIVITY NOTICE: “Washington Trust Bancorp, Inc. (WASH) Issues Earnings Results” was originally reported by Community Financial News and is the property of of Community Financial News. If you are reading this article on another website, it was copied illegally and republished in violation of U.S. and international copyright legislation. The original version of this article can be accessed at https://www.com-unik.info/2017/08/19/washington-trust-bancorp-inc-wash-posts-quarterly-earnings-results-beats-expectations-by-0-06-eps-updated-updated-updated.html.

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)

What are top analysts saying about Washington Trust Bancorp Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Washington Trust Bancorp Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit