Equities research analysts forecast that Washington Trust Bancorp, Inc. (NASDAQ:WASH) will report $58.60 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Washington Trust Bancorp’s earnings, with the lowest sales estimate coming in at $58.20 million and the highest estimate coming in at $59.00 million. Washington Trust Bancorp posted sales of $52.53 million in the same quarter last year, which would indicate a positive year over year growth rate of 11.6%. The company is expected to announce its next quarterly earnings results after the market closes on Wednesday, April 21st.
According to Zacks, analysts expect that Washington Trust Bancorp will report full-year sales of $222.95 million for the current fiscal year, with estimates ranging from $222.60 million to $223.30 million. For the next fiscal year, analysts anticipate that the business will post sales of $220.50 million, with estimates ranging from $220.00 million to $221.00 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Washington Trust Bancorp.
Washington Trust Bancorp (NASDAQ:WASH) last announced its earnings results on Tuesday, January 26th. The financial services provider reported $1.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.16. The business had revenue of $59.97 million during the quarter, compared to the consensus estimate of $54.50 million. Washington Trust Bancorp had a return on equity of 13.05% and a net margin of 25.03%.
Several institutional investors and hedge funds have recently modified their holdings of the business. Susquehanna International Group LLP acquired a new stake in shares of Washington Trust Bancorp in the 4th quarter worth $1,210,000. Eaton Vance Management acquired a new stake in shares of Washington Trust Bancorp in the 4th quarter worth $315,000. Norges Bank acquired a new stake in shares of Washington Trust Bancorp in the 4th quarter worth $7,133,000. UBS Asset Management Americas Inc. acquired a new stake in shares of Washington Trust Bancorp in the 4th quarter worth $475,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Washington Trust Bancorp by 8.0% in the 4th quarter. JPMorgan Chase & Co. now owns 549,051 shares of the financial services provider’s stock worth $24,598,000 after acquiring an additional 40,837 shares during the last quarter. 71.46% of the stock is owned by institutional investors and hedge funds.
Shares of WASH stock opened at $51.64 on Friday. The stock has a 50 day simple moving average of $51.85 and a 200-day simple moving average of $43.86. Washington Trust Bancorp has a 1-year low of $26.92 and a 1-year high of $55.07. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.10 and a quick ratio of 1.09. The company has a market cap of $892.44 million, a price-to-earnings ratio of 13.45 and a beta of 0.62.
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 9th. Investors of record on Thursday, April 1st were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend was Wednesday, March 31st. Washington Trust Bancorp’s dividend payout ratio is currently 52.53%.
Washington Trust Bancorp Company Profile
Washington Trust Bancorp, Inc operates as the bank holding company for The Washington Trust Company, of Westerly that offers 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 provides various commercial and retail lending products, which include commercial real estate loans consisting of commercial mortgages and construction loans; commercial and industrial loans; residential real estate loans consists 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.
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