Brokerages forecast that Washington Trust Bancorp, Inc. (NASDAQ:WASH) will report sales of $54.40 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Washington Trust Bancorp’s earnings, with the highest sales estimate coming in at $55.00 million and the lowest estimate coming in at $53.80 million. Washington Trust Bancorp reported sales of $57.12 million during the same quarter last year, which indicates a negative year-over-year growth rate of 4.8%. The business is scheduled to report its next earnings results after the market closes on Monday, October 25th.
According to Zacks, analysts expect that Washington Trust Bancorp will report full year sales of $222.65 million for the current financial year, with estimates ranging from $221.80 million to $223.50 million. For the next year, analysts expect that the business will report sales of $220.95 million, with estimates ranging from $213.90 million to $228.00 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Washington Trust Bancorp.
Washington Trust Bancorp (NASDAQ:WASH) last released its quarterly earnings results on Tuesday, July 20th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.07 by ($0.07). The firm had revenue of $55.35 million for the quarter, compared to the consensus estimate of $57.80 million. Washington Trust Bancorp had a net margin of 29.06% and a return on equity of 13.93%.
In related news, Director Joseph J. Marcaurele sold 7,807 shares of the stock in a transaction on Monday, September 27th. The stock was sold at an average price of $54.00, for a total transaction of $421,578.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joseph J. Marcaurele sold 756 shares of the stock in a transaction on Monday, August 30th. The shares were sold at an average price of $54.00, for a total value of $40,824.00. Following the sale, the director now owns 59,794 shares in the company, valued at approximately $3,228,876. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,000 shares of company stock valued at $540,000. 2.18% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC grew its position in Washington Trust Bancorp by 11.6% in the 1st quarter. Geode Capital Management LLC now owns 297,053 shares of the financial services provider’s stock valued at $15,336,000 after acquiring an additional 30,800 shares during the last quarter. BlackRock Inc. grew its position in shares of Washington Trust Bancorp by 7.5% during the 1st quarter. BlackRock Inc. now owns 1,652,630 shares of the financial services provider’s stock worth $85,325,000 after buying an additional 115,758 shares in the last quarter. Rafferty Asset Management LLC grew its position in shares of Washington Trust Bancorp by 18.2% during the 2nd quarter. Rafferty Asset Management LLC now owns 10,464 shares of the financial services provider’s stock worth $537,000 after buying an additional 1,609 shares in the last quarter. Champlain Investment Partners LLC grew its position in shares of Washington Trust Bancorp by 0.4% during the 2nd quarter. Champlain Investment Partners LLC now owns 748,310 shares of the financial services provider’s stock worth $38,426,000 after buying an additional 2,835 shares in the last quarter. Finally, Walthausen & Co. LLC grew its position in shares of Washington Trust Bancorp by 26.8% during the 2nd quarter. Walthausen & Co. LLC now owns 78,280 shares of the financial services provider’s stock worth $4,020,000 after buying an additional 16,530 shares in the last quarter. 72.03% of the stock is currently owned by institutional investors.
Shares of Washington Trust Bancorp stock traded down $0.01 during trading hours on Wednesday, reaching $54.80. 24,652 shares of the stock traded hands, compared to its average volume of 62,010. The company has a 50 day moving average price of $52.32 and a 200 day moving average price of $52.06. The firm has a market capitalization of $949.14 million, a price-to-earnings ratio of 12.74 and a beta of 0.77. Washington Trust Bancorp has a one year low of $31.82 and a one year high of $56.20. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.79.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 8th. Investors of record on Friday, October 1st were paid a dividend of $0.52 per share. The ex-dividend date was Thursday, September 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.80%. Washington Trust Bancorp’s dividend payout ratio (DPR) is presently 52.00%.
Washington Trust Bancorp Company Profile
Washington Trust Bancorp, Inc operates as a bank holding company. The firm engages in the provision of financial services, including business banking, personal banking and wealth management and trust services. It operates through the following segments: Commercial Banking and Wealth Management Services.
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