Seaport Res Ptn Analysts Reduce Earnings Estimates for WASH

Key Points

• Seaport Res Ptn has lowered its Q4 2026 earnings estimate for Washington Trust Bancorp to $0.77 per share, down from a previous estimate of $0.78.
• The company's latest quarterly earnings report showed earnings of $0.68 per share, exceeding analysts' expectations of $0.63.
• Washington Trust Bancorp recently announced a quarterly dividend of $0.56 per share, which represents an annual yield of 8.4%.

Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) - Research analysts at Seaport Res Ptn cut their Q4 2026 earnings estimates for Washington Trust Bancorp in a research report issued to clients and investors on Wednesday, October 8th. Seaport Res Ptn analyst L. Hunsicker now anticipates that the financial services provider will post earnings of $0.77 per share for the quarter, down from their prior estimate of $0.78. The consensus estimate for Washington Trust Bancorp's current full-year earnings is $2.76 per share.

Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last announced its quarterly earnings data on Monday, July 21st. The financial services provider reported $0.68 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.05. The firm had revenue of $54.26 million during the quarter, compared to analysts' expectations of $54.07 million. Washington Trust Bancorp had a negative net margin of 6.10% and a positive return on equity of 9.05%. During the same quarter in the previous year, the business posted $0.63 earnings per share.

Several other research analysts have also recently commented on the stock. Weiss Ratings reiterated a "hold (c-)" rating on shares of Washington Trust Bancorp in a report on Wednesday. Piper Sandler lowered their price target on shares of Washington Trust Bancorp from $28.00 to $27.00 and set an "underweight" rating for the company in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $28.67.

Washington Trust Bancorp Trading Down 5.5%

Shares of WASH stock opened at $26.80 on Friday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.04 and a current ratio of 1.05. The stock has a market capitalization of $513.49 million, a P/E ratio of -17.75, a price-to-earnings-growth ratio of 0.81 and a beta of 0.91. The company has a 50 day moving average price of $29.00 and a 200 day moving average price of $28.47. Washington Trust Bancorp has a fifty-two week low of $24.95 and a fifty-two week high of $40.59.

Washington Trust Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 8.4%. The ex-dividend date is Wednesday, October 1st. Washington Trust Bancorp's dividend payout ratio is currently -148.34%.

Hedge Funds Weigh In On Washington Trust Bancorp

Large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its stake in Washington Trust Bancorp by 31.1% in the first quarter. Bank of New York Mellon Corp now owns 135,403 shares of the financial services provider's stock valued at $4,179,000 after acquiring an additional 32,088 shares in the last quarter. GAMMA Investing LLC raised its position in Washington Trust Bancorp by 4,346.5% in the 1st quarter. GAMMA Investing LLC now owns 16,541 shares of the financial services provider's stock valued at $536,000 after purchasing an additional 16,169 shares during the last quarter. Inspire Advisors LLC raised its position in Washington Trust Bancorp by 41.0% in the 1st quarter. Inspire Advisors LLC now owns 85,574 shares of the financial services provider's stock valued at $2,641,000 after purchasing an additional 24,880 shares during the last quarter. Invesco Ltd. raised its position in Washington Trust Bancorp by 39.3% in the 1st quarter. Invesco Ltd. now owns 295,462 shares of the financial services provider's stock valued at $9,118,000 after purchasing an additional 83,311 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in Washington Trust Bancorp by 15.0% in the 1st quarter. Victory Capital Management Inc. now owns 30,700 shares of the financial services provider's stock valued at $947,000 after purchasing an additional 4,000 shares during the last quarter. Institutional investors and hedge funds own 65.81% of the company's stock.

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.

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