Washington Trust Bancorp, Inc. (WASH) Announces Quarterly Earnings Results
Washington Trust Bancorp, Inc. (NASDAQ:WASH) issued its earnings results on Monday. The financial services provider reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.01, Zacks reports. Washington Trust Bancorp had a net margin of 23.86% and a return on equity of 12.43%. The firm had revenue of $47.34 million during the quarter.
Washington Trust Bancorp (NASDAQ:WASH) traded down 4.56% on Tuesday, hitting $54.40. 103,609 shares of the stock traded hands. Washington Trust Bancorp has a 1-year low of $44.10 and a 1-year high of $59.10. The company has a market cap of $936.22 million, a price-to-earnings ratio of 19.02 and a beta of 0.75. The stock has a 50-day moving average price of $55.24 and a 200 day moving average price of $51.80.
The business also recently declared a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Monday, October 2nd were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend was Friday, September 29th. This is a boost from Washington Trust Bancorp’s previous quarterly dividend of $0.38. Washington Trust Bancorp’s dividend payout ratio is 54.55%.
In other news, Chairman Joseph J. Marcaurele sold 5,000 shares of Washington Trust Bancorp stock in a transaction on Friday, August 4th. The shares were sold at an average price of $52.80, for a total value of $264,000.00. Following the completion of the sale, the chairman now owns 57,583 shares in the company, valued at approximately $3,040,382.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 5,205 shares of company stock valued at $274,607 in the last quarter. 2.58% of the stock is currently owned by company insiders.
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Several research firms have recently weighed in on WASH. BidaskClub cut shares of Washington Trust Bancorp from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Compass Point cut shares of Washington Trust Bancorp from a “buy” rating to a “neutral” rating in a report on Tuesday.
Washington Trust Bancorp Company Profile
Washington Trust Bancorp, Inc is a bank holding company and financial holding company. The Company is a holding company of The Washington Trust Company, of Westerly (the Bank), a Rhode Island chartered commercial bank. The Company operates through two business segments: Commercial Banking and Wealth Management Services.
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