Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) issued its quarterly earnings data on Monday. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.06, Zacks reports. Washington Trust Bancorp had a positive return on equity of 8.82% and a negative net margin of 6.60%.
Washington Trust Bancorp Stock Up 0.0%
Shares of NASDAQ WASH traded up $0.01 during mid-day trading on Monday, reaching $29.09. The company had a trading volume of 118,421 shares, compared to its average volume of 153,398. Washington Trust Bancorp has a twelve month low of $24.95 and a twelve month high of $40.59. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $561.15 million, a PE ratio of -18.65, a price-to-earnings-growth ratio of 1.01 and a beta of 0.90. The stock's 50 day moving average is $28.39 and its 200-day moving average is $29.63.
Washington Trust Bancorp Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st were paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 7.70%. The ex-dividend date was Tuesday, July 1st. Washington Trust Bancorp's dividend payout ratio (DPR) is currently -143.59%.
Wall Street Analysts Forecast Growth
Several analysts have commented on the stock. Keefe, Bruyette & Woods lowered their target price on shares of Washington Trust Bancorp from $34.00 to $31.00 and set a "market perform" rating for the company in a research note on Tuesday, April 22nd. Bank of America initiated coverage on shares of Washington Trust Bancorp in a report on Wednesday, May 28th. They set a "neutral" rating and a $28.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $31.00.
Check Out Our Latest Research Report on Washington Trust Bancorp
Hedge Funds Weigh In On Washington Trust Bancorp
An institutional investor recently raised its position in Washington Trust Bancorp stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) by 17.7% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 11,351 shares of the financial services provider's stock after buying an additional 1,708 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.06% of Washington Trust Bancorp worth $350,000 as of its most recent filing with the SEC. 65.81% of the stock is currently owned by institutional investors.
Washington Trust Bancorp Company Profile
(
Get Free Report)
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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