Washington Trust Bancorp (NASDAQ:WASH) Issues Quarterly Earnings Results

Washington Trust Bancorp (NASDAQ:WASH) issued its earnings results on Monday. The financial services provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.49 by $0.14, Yahoo Finance reports. The business had revenue of $102.66 million for the quarter, compared to the consensus estimate of $46.06 million. Washington Trust Bancorp had a return on equity of 10.03% and a net margin of 11.51%. During the same period last year, the business posted $0.66 EPS.

Washington Trust Bancorp Price Performance

NASDAQ:WASH traded up $0.83 on Thursday, reaching $31.83. 9,965 shares of the company’s stock traded hands, compared to its average volume of 92,656. The company has a quick ratio of 1.07, a current ratio of 1.08 and a debt-to-equity ratio of 2.70. The stock has a 50-day simple moving average of $26.98 and a 200-day simple moving average of $26.82. The firm has a market cap of $542.70 million, a PE ratio of 11.44 and a beta of 0.80. Washington Trust Bancorp has a 12 month low of $21.69 and a 12 month high of $33.96.

Washington Trust Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Monday, July 1st were issued a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, July 1st. This represents a $2.24 dividend on an annualized basis and a yield of 7.04%. Washington Trust Bancorp’s dividend payout ratio is presently 82.66%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, June 17th.

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.