Q4 2024 EPS Estimates for Washington Trust Bancorp, Inc. (NASDAQ:WASH) Reduced by Seaport Res Ptn

Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) - Investment analysts at Seaport Res Ptn lowered their Q4 2024 EPS estimates for shares of Washington Trust Bancorp in a research note issued on Thursday, April 25th. Seaport Res Ptn analyst L. Hunsicker now expects that the financial services provider will earn $0.45 per share for the quarter, down from their previous forecast of $0.48. Seaport Res Ptn currently has a "Neutral" rating on the stock. The consensus estimate for Washington Trust Bancorp's current full-year earnings is $1.91 per share. Seaport Res Ptn also issued estimates for Washington Trust Bancorp's Q1 2025 earnings at $0.47 EPS, Q2 2025 earnings at $0.53 EPS, Q3 2025 earnings at $0.55 EPS, Q4 2025 earnings at $0.55 EPS and FY2025 earnings at $2.10 EPS.

Separately, StockNews.com upgraded shares of Washington Trust Bancorp from a "sell" rating to a "hold" rating in a report on Thursday.

Washington Trust Bancorp Trading Up 0.6 %

Shares of WASH stock traded up $0.15 during trading hours on Friday, hitting $26.14. The company had a trading volume of 66,115 shares, compared to its average volume of 90,573. The company's fifty day moving average is $25.78 and its 200 day moving average is $27.21. The company has a debt-to-equity ratio of 2.57, a current ratio of 1.07 and a quick ratio of 1.07. Washington Trust Bancorp has a fifty-two week low of $21.69 and a fifty-two week high of $33.96. The stock has a market capitalization of $445.16 million, a PE ratio of 9.66 and a beta of 0.81.

Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last issued its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.54 by $0.22. Washington Trust Bancorp had a net margin of 12.01% and a return on equity of 10.18%. The firm had revenue of $45.96 million for the quarter, compared to analyst estimates of $47.38 million.

Institutional Investors Weigh In On Washington Trust Bancorp

A number of hedge funds have recently added to or reduced their stakes in WASH. Crestwood Advisors Group LLC acquired a new stake in Washington Trust Bancorp during the 3rd quarter worth approximately $2,512,000. Third Avenue Management LLC lifted its holdings in Washington Trust Bancorp by 44.5% during the 3rd quarter. Third Avenue Management LLC now owns 294,994 shares of the financial services provider's stock worth $8,050,000 after buying an additional 90,842 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Washington Trust Bancorp by 9.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 774,705 shares of the financial services provider's stock worth $25,086,000 after buying an additional 68,930 shares in the last quarter. Napatree Capital LLC acquired a new stake in shares of Washington Trust Bancorp in the 4th quarter valued at $1,813,000. Finally, Drexel Morgan & Co. raised its holdings in shares of Washington Trust Bancorp by 22.8% in the 4th quarter. Drexel Morgan & Co. now owns 167,123 shares of the financial services provider's stock valued at $5,411,000 after purchasing an additional 31,000 shares in the last quarter. 65.81% of the stock is currently owned by institutional investors and hedge funds.

Washington Trust Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Monday, April 1st were issued a dividend of $0.56 per share. The ex-dividend date was Thursday, March 28th. This represents a $2.24 dividend on an annualized basis and a yield of 8.57%. Washington Trust Bancorp's dividend payout ratio (DPR) is presently 82.66%.

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.