$54.15 million in sales expected for Washington Trust Bancorp, Inc. (NASDAQ:WASH) this quarter
Analysts predict that Washington Trust Bancorp, Inc. (NASDAQ:WASH – Get a rating) will report sales of $54.15 million for the current fiscal quarter, according to Zacks. Two analysts provided earnings estimates for Washington Trust Bancorp, with the lowest sales estimate of $53.40 million and the highest estimate of $54.90 million. Washington Trust Bancorp posted sales of $55.35 million in the same quarter last year, which would indicate a negative growth rate of 2.2% year over year. The company is expected to release its next quarterly earnings report on Monday, January 1.
According to Zacks, analysts expect Washington Trust Bancorp to report annual sales of $220.60 million for the current year, with estimates ranging from $217.60 million to $223.60 million. . For the next fiscal year, analysts expect the company to record sales of $242.40 million, with estimates ranging from $240.90 to $243.90 million. Zacks sales averages are an average average based on a survey of sell-side research firms that provide coverage for Washington Trust Bancorp.
Washington Trust Bancorp (NASDAQ: WASH – Get a rating) last released its results on Monday, April 25. The financial services provider reported earnings per share (EPS) of $0.94 for the quarter, beating the consensus estimate of $0.92 by $0.02. Washington Trust Bancorp had a return on equity of 13.35% and a net margin of 30.69%. In the same quarter of the previous year, the company had earned earnings per share of $1.17.
Several equity analysts have recently published reports on WASH actions. StockNews.com began covering Washington Trust Bancorp in a report on Thursday, March 31. They issued a “hold” rating for the company. Piper Sandler downgraded Washington Trust Bancorp from an “overweight” rating to a “neutral” rating and set a price target of $56.00 for the company. in a research report on Thursday, April 7.
A number of institutional investors have recently changed their positions in the stock. Norges Bank acquired a new position in Washington Trust Bancorp in Q4 at a value of $8,131,000. Victory Capital Management Inc. increased its stake in Washington Trust Bancorp by 49.9% during the first quarter. Victory Capital Management Inc. now owns 253,124 shares of the financial services provider worth $12,033,000 after acquiring an additional 84,225 shares during the period. Vanguard Group Inc. increased its stake in Washington Trust Bancorp by 4.0% during the first quarter. Vanguard Group Inc. now owns 958,238 shares of the financial services provider worth $50,306,000 after acquiring an additional 37,258 shares during the period. VELA Investment Management LLC acquired a new stake in Washington Trust Bancorp during the fourth quarter worth approximately $1,819,000. Finally, BlackRock Inc. increased its position in Washington Trust Bancorp by 2.0% in the 4th quarter. BlackRock Inc. now owns 1,540,201 shares of the financial services provider worth $86,820,000 after buying an additional 29,642 shares in the last quarter. 77.37% of the shares are held by hedge funds and other institutional investors.
WASH opened at $46.92 on Friday. Washington Trust Bancorp has a 12-month low of $46.35 and a 12-month high of $60.96. The stock has a fifty-day moving average price of $50.70 and a 200-day moving average price of $54.43. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt ratio of 0.15. The company has a market capitalization of $814.06 million, a price-earnings ratio of 11.28 and a beta of 0.76.
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 8. Shareholders of record on Friday, April 1 received a dividend of $0.54 per share. The ex-dividend date was Thursday, March 31. This represents an annualized dividend of $2.16 and a dividend yield of 4.60%. Washington Trust Bancorp’s dividend payout ratio is currently 51.92%.
Washington Trust Bancorp Company Profile (Get a rating)
Washington Trust Bancorp, Inc. operates as a bank holding company for The Washington Trust Company, of Westerly, which provides various banking and financial services to individuals and businesses. The Company operates in two segments, commercial banking services and wealth management services. The Commercial Banking segment offers various commercial and retail lending products, such as commercial real estate loans, including commercial mortgages and construction loans; commercial and industrial loans; residential real estate loans which consist of homeowner mortgages and construction loans; and consumer loans including home equity loans and lines of credit, personal installment loans and personal loans secured by general aviation aircraft.
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