$54.15 million in sales expected for Washington Trust Bancorp, Inc. (NASDAQ:WASH) this quarter
Analysts expect Washington Trust Bancorp, Inc. (NASDAQ: WASH – Get a rating) will announce sales of $54.15 million for the current quarter, according to Zacks Investment Research. Two analysts released earnings estimates for Washington Trust Bancorp, with estimates ranging from $53.40 million to $54.90 million. Washington Trust Bancorp posted sales of $55.35 million in the same quarter last year, suggesting a negative 2.2% year-over-year growth rate. The company is expected to release its next results on Monday, January 1.
On average, analysts expect Washington Trust Bancorp to report annual sales of $220.60 million for the current fiscal 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 based on a survey of sell-side research companies that track Washington Trust Bancorp.
Washington Trust Bancorp (NASDAQ: WASH – Get a rating) last released its quarterly results on Monday, April 25. The financial services provider reported earnings per share of $0.94 for the quarter, beating the consensus estimate of $0.91 by $0.03. The company posted revenue of $52.25 million in the quarter, versus a consensus estimate of $53.40 million. Washington Trust Bancorp had a return on equity of 13.35% and a net margin of 30.69%. In the same quarter last year, the company earned earnings per share of $1.17.
Several brokerages have weighed in on WASH. 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 report on Thursday, April 7. StockNews.com began covering Washington Trust Bancorp in a report on Thursday, March 31. They set a “holding” rating for the company.
Shares of NASDAQ WASH opened at $49.70 on Friday. The company has a debt ratio of 0.15, a quick ratio of 0.87 and a current ratio of 0.88. The company has a market capitalization of $862.30 million, a PE ratio of 11.95 and a beta of 0.76. The company has a 50-day simple moving average of $49.14 and a two-hundred-day simple moving average of $53.55. Washington Trust Bancorp has a fifty-two week minimum of $45.60 and a fifty-two week maximum of $60.96.
The company also recently announced a quarterly dividend, which was paid on Friday, April 8. Investors of record on Friday, April 1 received a dividend of $0.54 per share. This represents a dividend of $2.16 on an annualized basis and a dividend yield of 4.35%. The ex-dividend date was Thursday, March 31. Washington Trust Bancorp’s dividend payout ratio (DPR) is 51.92%.
Institutional investors have recently increased or reduced their stake in the stock. CWM LLC acquired a new stake in shares of Washington Trust Bancorp during the fourth quarter worth approximately $40,000. Lazard Asset Management LLC increased its position in Washington Trust Bancorp by 335.5% during the fourth quarter. Lazard Asset Management LLC now owns 858 shares of the financial services provider valued at $48,000 after acquiring an additional 661 shares last quarter. Great West Life Assurance Co. Can increased its position in Washington Trust Bancorp by 27.2% in the first quarter. Great West Life Assurance Co. Can now owns 1,530 shares of the financial services provider valued at $84,000 after acquiring 327 additional shares last quarter. GSA Capital Partners LLP bought a new position in Washington Trust Bancorp during the fourth quarter, valued at approximately $204,000. Finally, Bradley Foster & Sargent Inc. CT bought a new position in Washington Trust Bancorp during the fourth quarter valued at around $209,000. 77.37% of the shares are held by hedge funds and other institutional investors.
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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