Washington Trust Bancorp, Inc. (NASDAQ:WASH) Forecasted to Earn Q2 2024 Earnings of $0.50 Per Share

Washington Trust Bancorp, Inc. (NASDAQ:WASH) – Equities researchers at Seaport Res Ptn lifted their Q2 2024 EPS estimates for Washington Trust Bancorp in a research note issued to investors on Thursday, April 25th. Seaport Res Ptn analyst L. Hunsicker now anticipates that the financial services provider will post earnings of $0.50 per share for the quarter, up from their prior forecast of $0.41. Seaport Res Ptn has a “Neutral” rating on the stock. The consensus estimate for Washington Trust Bancorp’s current full-year earnings is $2.09 per share. Seaport Res Ptn also issued estimates for Washington Trust Bancorp’s Q3 2024 earnings at $0.47 EPS and FY2024 earnings at $2.07 EPS.

Separately, StockNews.com raised Washington Trust Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, April 25th.

Washington Trust Bancorp Stock Down 0.9 %

Shares of NASDAQ:WASH opened at $25.46 on Monday. The company’s fifty day moving average is $25.73 and its 200-day moving average is $27.21. The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.07 and a current ratio of 1.07. Washington Trust Bancorp has a 52 week low of $21.69 and a 52 week high of $33.96. The company has a market capitalization of $433.58 million, a PE ratio of 9.48 and a beta of 0.81.

Washington Trust Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Monday, April 1st were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 8.80%. The ex-dividend date of this dividend was Thursday, March 28th. Washington Trust Bancorp’s dividend payout ratio (DPR) is presently 82.66%.

Institutional Investors Weigh In On Washington Trust Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the stock. New England Professional Planning Group Inc. raised its position in Washington Trust Bancorp by 10.8% in the 1st quarter. New England Professional Planning Group Inc. now owns 10,528 shares of the financial services provider’s stock valued at $283,000 after buying an additional 1,027 shares during the last quarter. Napatree Capital LLC bought a new stake in Washington Trust Bancorp during the 4th quarter worth about $1,813,000. EP Wealth Advisors LLC acquired a new position in shares of Washington Trust Bancorp during the 4th quarter worth about $259,000. Quest Partners LLC bought a new position in shares of Washington Trust Bancorp in the 4th quarter valued at about $186,000. Finally, Quadrant Capital Group LLC increased its position in shares of Washington Trust Bancorp by 52.8% in the fourth quarter. Quadrant Capital Group LLC now owns 9,869 shares of the financial services provider’s stock valued at $320,000 after acquiring an additional 3,410 shares during the last quarter. 65.81% of the stock is currently owned by institutional investors and hedge funds.

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.