Washington Trust Bancorp (WASH) Issues Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Washington Trust Bancorp (NASDAQ:WASH) released its earnings results on Tuesday. The financial services provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.75 by $0.07, Yahoo Finance reports. Washington Trust Bancorp had a return on equity of 12.44% and a net margin of 23.63%.

Shares of Washington Trust Bancorp (NASDAQ:WASH) traded up $0.90 during trading on Wednesday, reaching $54.65. The company’s stock had a trading volume of 15,347 shares, compared to its average volume of 44,340. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.02. Washington Trust Bancorp has a 12-month low of $47.00 and a 12-month high of $59.10. The firm has a market capitalization of $929.07, a PE ratio of 18.60 and a beta of 0.75.

The firm also recently announced a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Tuesday, January 2nd were paid a dividend of $0.39 per share. The ex-dividend date was Friday, December 29th. This represents a $1.56 annualized dividend and a yield of 2.85%. Washington Trust Bancorp’s dividend payout ratio is currently 53.98%.

In other Washington Trust Bancorp news, EVP James M. Hagerty sold 900 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $53.33, for a total value of $47,997.00. Following the completion of the sale, the executive vice president now owns 7,609 shares of the company’s stock, valued at $405,787.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John F. Treanor sold 5,500 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $55.94, for a total value of $307,670.00. The disclosure for this sale can be found here. Insiders sold 8,500 shares of company stock valued at $467,428 in the last three months. Insiders own 2.58% of the company’s stock.

WASH has been the subject of several recent analyst reports. BidaskClub cut Washington Trust Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, December 9th. Compass Point raised Washington Trust Bancorp from a “neutral” rating to a “buy” rating in a research note on Monday, December 18th.

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About Washington Trust Bancorp

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.

Earnings History for Washington Trust Bancorp (NASDAQ:WASH)

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