Washington Trust Bancorp (WASH) to Release Quarterly Earnings on Wednesday

Washington Trust Bancorp (NASDAQ:WASH) is expected to be issuing its quarterly earnings data before the market opens on Wednesday, January 22nd. Analysts expect the company to announce earnings of $0.57 per share and revenue of $31,740.00 billion for the quarter.

Washington Trust Bancorp (NASDAQ:WASH) last released its quarterly earnings data on Monday, October 21st. The financial services provider reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.08. The business had revenue of $103.86 million during the quarter, compared to analyst estimates of $47.32 million. Washington Trust Bancorp had a return on equity of 9.55% and a net margin of 11.24%. During the same quarter last year, the business posted $0.65 EPS. On average, analysts expect Washington Trust Bancorp to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Washington Trust Bancorp Stock Performance

Shares of NASDAQ:WASH traded up $0.88 during trading on Wednesday, hitting $32.25. 223,392 shares of the stock traded hands, compared to its average volume of 222,655. The company has a market cap of $621.04 million, a price-to-earnings ratio of 12.08 and a beta of 0.81. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 2.63. The company has a fifty day moving average price of $34.72 and a two-hundred day moving average price of $32.47. Washington Trust Bancorp has a 52-week low of $24.11 and a 52-week high of $40.59.

Washington Trust Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.24 dividend on an annualized basis and a yield of 6.95%. Washington Trust Bancorp’s dividend payout ratio is currently 83.90%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on WASH shares. Piper Sandler upgraded Washington Trust Bancorp from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $30.00 to $34.00 in a report on Tuesday, October 22nd. StockNews.com cut Washington Trust Bancorp from a “hold” rating to a “sell” rating in a report on Saturday.

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.