Washington Trust Bancorp (NASDAQ:WASH) Releases Earnings Results, Beats Estimates By $0.14 EPS

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 analysts’ consensus estimates 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 the consensus estimate of $46.06 million. During the same period in the prior year, the firm earned $0.66 EPS.

Washington Trust Bancorp Stock Performance

Washington Trust Bancorp stock traded up $0.73 during mid-day trading on Thursday, reaching $31.73. The company’s stock had a trading volume of 12,334 shares, compared to its average volume of 92,673. Washington Trust Bancorp has a 12-month low of $21.69 and a 12-month high of $33.96. The company has a market capitalization of $541.00 million, a P/E 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. The firm’s fifty day moving average price is $26.98 and its two-hundred day moving average price is $26.82.

Washington Trust Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Monday, July 1st were paid a $0.56 dividend. The ex-dividend date of this dividend was Monday, July 1st. This represents a $2.24 dividend on an annualized basis and a yield of 7.06%. Washington Trust Bancorp’s dividend payout ratio is 82.66%.

Analyst Upgrades and Downgrades

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.

Washington Trust Bancorp Company Profile

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.