Washington Trust Bancorp (NASDAQ:WASH) Posts Earnings Results, Beats Estimates By $0.02 EPS

Washington Trust Bancorp (NASDAQ:WASH) issued its quarterly earnings data on Wednesday. The financial services provider reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02, Zacks reports. Washington Trust Bancorp had a positive return on equity of 8.99% and a negative net margin of 6.90%.

Washington Trust Bancorp Trading Down 0.8 %

NASDAQ:WASH opened at $32.23 on Friday. The company has a debt-to-equity ratio of 2.63, a current ratio of 1.10 and a quick ratio of 1.10. Washington Trust Bancorp has a 12-month low of $24.11 and a 12-month high of $40.59. The firm has a 50-day moving average price of $33.34 and a 200 day moving average price of $32.87.

Washington Trust Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.24 annualized dividend and a dividend yield of 6.95%. Washington Trust Bancorp’s dividend payout ratio (DPR) is currently -144.52%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. StockNews.com raised Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research report on Friday. Piper Sandler raised Washington Trust Bancorp from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $30.00 to $34.00 in a research report on Tuesday, October 22nd.

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.