FY2025 Earnings Forecast for WASH Issued By Seaport Res Ptn

Key Points

• Seaport Res Ptn has revised its FY2025 earnings estimate for Washington Trust Bancorp to $2.61 per share, a slight increase from its previous forecast of $2.59.
• Washington Trust Bancorp recently declared a quarterly dividend of $0.56, reflecting an annualized payout of $2.24 and a yield of 8.13%.
• The company's stock currently has a consensus rating of "Hold" with an average price target of $29.00.

Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) - Stock analysts at Seaport Res Ptn upped their FY2025 earnings estimates for Washington Trust Bancorp in a research report issued on Wednesday, July 23rd. Seaport Res Ptn analyst L. Hunsicker now forecasts that the financial services provider will post earnings of $2.61 per share for the year, up from their prior forecast of $2.59. The consensus estimate for Washington Trust Bancorp's current full-year earnings is $2.76 per share. Seaport Res Ptn also issued estimates for Washington Trust Bancorp's FY2026 earnings at $2.99 EPS.

Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last posted its earnings results on Monday, July 21st. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.05. The company had revenue of $54.26 million during the quarter, compared to the consensus estimate of $54.07 million. Washington Trust Bancorp had a negative net margin of 6.10% and a positive return on equity of 9.14%. During the same period in the previous year, the firm posted $0.63 earnings per share.

A number of other research analysts also recently weighed in on the stock. Piper Sandler downgraded shares of Washington Trust Bancorp from a "neutral" rating to an "underweight" rating and set a $28.00 price objective for the company. in a research report on Tuesday, July 22nd. Bank of America assumed coverage on shares of Washington Trust Bancorp in a research report on Wednesday, May 28th. They issued a "neutral" rating and a $28.00 price objective for the company. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Washington Trust Bancorp from $34.00 to $31.00 and set a "market perform" rating for the company in a research report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $29.00.

Washington Trust Bancorp Price Performance

Shares of Washington Trust Bancorp stock traded up $0.08 during trading hours on Friday, reaching $27.64. The stock had a trading volume of 67,525 shares, compared to its average volume of 171,450. The stock's 50 day moving average is $28.24 and its 200 day moving average is $29.54. The firm has a market capitalization of $533.20 million, a PE ratio of -18.30, a PEG ratio of 0.95 and a beta of 0.90. Washington Trust Bancorp has a twelve month low of $24.95 and a twelve month high of $40.59. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.67.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. CWM LLC raised its position in shares of Washington Trust Bancorp by 6.2% during the 2nd quarter. CWM LLC now owns 12,501 shares of the financial services provider's stock worth $354,000 after purchasing an additional 734 shares during the last quarter. Barrett & Company Inc. raised its position in shares of Washington Trust Bancorp by 10.1% during the 2nd quarter. Barrett & Company Inc. now owns 5,646 shares of the financial services provider's stock worth $160,000 after purchasing an additional 518 shares during the last quarter. Brown Lisle Cummings Inc. raised its position in shares of Washington Trust Bancorp by 9.3% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 33,438 shares of the financial services provider's stock worth $946,000 after purchasing an additional 2,839 shares during the last quarter. Ransom Advisory Ltd acquired a new position in shares of Washington Trust Bancorp during the 1st quarter worth about $40,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Washington Trust Bancorp by 17.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,351 shares of the financial services provider's stock worth $350,000 after purchasing an additional 1,708 shares during the last quarter. Institutional investors and hedge funds own 65.81% of the company's stock.

Washington Trust Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, July 1st were given a dividend of $0.56 per share. The ex-dividend date was Tuesday, July 1st. This represents a $2.24 annualized dividend and a dividend yield of 8.10%. Washington Trust Bancorp's dividend payout ratio (DPR) is presently -148.34%.

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.