Wall Street brokerages expect Washington Trust Bancorp, Inc. (NASDAQ:WASH) to report $54.40 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Washington Trust Bancorp’s earnings, with the lowest sales estimate coming in at $53.80 million and the highest estimate coming in at $55.00 million. Washington Trust Bancorp posted sales of $57.12 million during the same quarter last year, which would indicate a negative year over year growth rate of 4.8%. The firm is expected to issue its next quarterly 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 year, with estimates ranging from $221.80 million to $223.50 million. For the next financial year, analysts forecast that the business will post sales of $220.95 million, with estimates ranging from $213.90 million to $228.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Washington Trust Bancorp.
Washington Trust Bancorp (NASDAQ:WASH) last posted its quarterly earnings results on Tuesday, July 20th. The financial services provider reported $1.00 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.07 by ($0.07). The company 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%.
NASDAQ:WASH traded down $0.01 on Wednesday, reaching $54.80. 24,652 shares of the company’s stock were exchanged, compared to its average volume of 62,010. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.94 and a quick ratio of 0.93. The firm has a market cap of $949.14 million, a price-to-earnings ratio of 12.74 and a beta of 0.77. Washington Trust Bancorp has a 52 week low of $31.82 and a 52 week high of $56.20. The stock has a fifty day simple moving average of $52.32 and a 200-day simple moving average of $52.06.
The company also recently announced a quarterly dividend, which was paid on Friday, October 8th. Stockholders of record on Friday, October 1st were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.80%. The ex-dividend date was Thursday, September 30th. Washington Trust Bancorp’s dividend payout ratio is 52.00%.
In related news, Director Joseph J. Marcaurele sold 756 shares of Washington Trust Bancorp 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 $3,228,876. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joseph J. Marcaurele sold 7,807 shares of Washington Trust Bancorp stock in a transaction on Monday, September 27th. The shares were sold at an average price of $54.00, for a total transaction of $421,578.00. The disclosure for this sale can be found here. Insiders sold 10,000 shares of company stock worth $540,000 in the last 90 days. Company insiders own 2.18% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Lazard Asset Management LLC lifted its position in Washington Trust Bancorp by 278.2% during the first quarter. Lazard Asset Management LLC now owns 745 shares of the financial services provider’s stock valued at $38,000 after buying an additional 548 shares during the period. Essex Financial Services Inc. purchased a new position in Washington Trust Bancorp during the first quarter valued at $220,000. Metropolitan Life Insurance Co NY raised its position in shares of Washington Trust Bancorp by 103,240.0% in the 2nd quarter. Metropolitan Life Insurance Co NY now owns 5,167 shares of the financial services provider’s stock worth $265,000 after purchasing an additional 5,162 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Washington Trust Bancorp by 5.1% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 6,566 shares of the financial services provider’s stock worth $337,000 after purchasing an additional 316 shares during the last quarter. Finally, Royal Bank of Canada raised its position in shares of Washington Trust Bancorp by 3.4% in the 1st quarter. Royal Bank of Canada now owns 6,685 shares of the financial services provider’s stock worth $344,000 after purchasing an additional 221 shares during the last quarter. 72.03% of the stock is owned by institutional investors and hedge funds.
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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