Research Analysts Offer Predictions for Washington Trust Bancorp, Inc.’s Q3 2024 Earnings (NASDAQ:WASH)

Washington Trust Bancorp, Inc. (NASDAQ:WASH) – Seaport Res Ptn upped their Q3 2024 earnings estimates for shares of Washington Trust Bancorp in a research report issued to clients and investors on Friday, August 2nd. Seaport Res Ptn analyst L. Hunsicker now expects that the financial services provider will earn $0.52 per share for the quarter, up from their prior forecast of $0.47. The consensus estimate for Washington Trust Bancorp’s current full-year earnings is $2.38 per share. Seaport Res Ptn also issued estimates for Washington Trust Bancorp’s FY2024 earnings at $2.31 EPS.

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

Washington Trust Bancorp Trading Down 0.2 %

Shares of NASDAQ WASH opened at $28.54 on Monday. 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’s 50 day moving average price is $27.78 and its two-hundred day moving average price is $26.90. Washington Trust Bancorp has a 52-week low of $21.69 and a 52-week high of $33.96. The stock has a market capitalization of $486.72 million, a P/E ratio of 10.53 and a beta of 0.80.

Washington Trust Bancorp (NASDAQ:WASH) last issued its quarterly earnings results on Monday, July 22nd. The financial services provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.49 by $0.14. The business had revenue of $102.66 million for the quarter, compared to analysts’ expectations of $46.06 million. Washington Trust Bancorp had a net margin of 11.51% and a return on equity of 10.03%. During the same quarter last year, the company posted $0.66 earnings per share.

Washington Trust Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Monday, July 1st were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 7.85%. The ex-dividend date was Monday, July 1st. Washington Trust Bancorp’s dividend payout ratio is presently 82.66%.

Hedge Funds Weigh In On Washington Trust Bancorp

Large investors have recently bought and sold shares of the business. EntryPoint Capital LLC grew its holdings in shares of Washington Trust Bancorp by 86.3% during the first quarter. EntryPoint Capital LLC now owns 1,585 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 734 shares during the last quarter. CWM LLC boosted its position in Washington Trust Bancorp by 29.9% during the 2nd quarter. CWM LLC now owns 3,146 shares of the financial services provider’s stock valued at $86,000 after purchasing an additional 725 shares during the period. SG Americas Securities LLC bought a new position in Washington Trust Bancorp during the 4th quarter worth $179,000. Quest Partners LLC bought a new stake in Washington Trust Bancorp in the fourth quarter valued at $186,000. Finally, IFG Advisory LLC acquired a new position in shares of Washington Trust Bancorp during the second quarter valued at $211,000. Institutional investors own 65.81% of the company’s stock.

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.