Washington Trust Bancorp (NASDAQ:WASH) Posts Quarterly Earnings Results

Washington Trust Bancorp (NASDAQ:WASH) announced its quarterly earnings data on Monday. The financial services provider reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.01), 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 Stock Performance

WASH opened at $26.76 on Monday. The firm has a market cap of $515.81 million, a P/E ratio of -17.35 and a beta of 0.76. The business’s fifty day moving average is $29.99 and its 200-day moving average is $32.59. Washington Trust Bancorp has a 52-week low of $24.70 and a 52-week high of $40.59. The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.10 and a current ratio of 1.10.

Washington Trust Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 8.37%. The ex-dividend date was Tuesday, April 1st. Washington Trust Bancorp’s dividend payout ratio is currently -144.52%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on WASH shares. StockNews.com upgraded Washington Trust Bancorp from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Seaport Res Ptn upgraded shares of Washington Trust Bancorp from a “hold” rating to a “strong-buy” rating in a report on Friday, March 14th.

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.