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

Washington Trust Bancorp (NASDAQ:WASH) released its earnings results on Monday. The financial services provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.14, Yahoo Finance reports. Washington Trust Bancorp had a net margin of 11.51% and a return on equity of 10.03%. The firm had revenue of $102.66 million during the quarter, compared to analyst estimates of $46.06 million. During the same quarter in the previous year, the firm earned $0.66 earnings per share.

Washington Trust Bancorp Stock Performance

Shares of Washington Trust Bancorp stock traded up $0.83 during trading on Thursday, hitting $31.83. 9,965 shares of the stock were exchanged, compared to its average volume of 92,656. The stock’s fifty day moving average is $26.98 and its 200 day moving average is $26.82. The stock has a market cap of $542.70 million, a PE ratio of 11.44 and a beta of 0.80. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.07 and a current ratio of 1.08. Washington Trust Bancorp has a 12 month low of $21.69 and a 12 month high of $33.96.

Washington Trust Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Monday, July 1st were given a dividend of $0.56 per share. The ex-dividend date was Monday, July 1st. This represents a $2.24 annualized dividend and a dividend yield of 7.04%. Washington Trust Bancorp’s dividend payout ratio is currently 82.66%.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, June 17th.

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.