Washington Trust Bancorp (NASDAQ:WASH) Releases Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Washington Trust Bancorp (NASDAQ:WASH) posted its earnings results on Monday. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.08, Yahoo Finance reports. The company had revenue of $103.86 million during the quarter, compared to analysts’ expectations of $47.32 million. Washington Trust Bancorp had a net margin of 11.51% and a return on equity of 9.95%. During the same quarter in the previous year, the company posted $0.65 earnings per share.

Washington Trust Bancorp Price Performance

Shares of WASH stock opened at $32.18 on Tuesday. Washington Trust Bancorp has a 52 week low of $21.69 and a 52 week high of $34.27. The stock has a market capitalization of $548.99 million, a PE ratio of 11.90 and a beta of 0.79. The company has a debt-to-equity ratio of 3.34, a quick ratio of 1.14 and a current ratio of 1.15. The stock’s fifty day moving average is $31.66 and its 200-day moving average is $28.72.

Washington Trust Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were given a $0.56 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $2.24 annualized dividend and a yield of 6.96%. Washington Trust Bancorp’s payout ratio is 83.58%.

About Washington Trust Bancorp

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.