Washington Trust Bancorp, Inc. operates as the bank holding company for The Washington Trust Company, of Westerly that offers 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 provides various commercial and retail lending products, such as commercial real estate loans, including commercial mortgages and construction loans; commercial and industrial loans; 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. This segment also offers deposit accounts, including interest-bearing and noninterest-bearing demand deposits, NOW and savings accounts, money market and retirement deposit accounts, and time deposits, as well as debit card, automated teller machine, telephone banking, internet banking, mobile banking, remote deposit capture, and other cash management services. The Wealth Management Services segment provides investment management; financial planning; personal trust and estate services, such as trustee, personal representative, custodian, and guardian; and settlement of decedents' estates, as well as institutional trust services comprising custody and fiduciary services. This segment serves personal and institutional clients. The company also operates as a licensed broker-dealer; and offers variable annuities and college savings plans. As of December 31, 2021, it had 10 branch offices located in southern Rhode Island, 13 branch offices located in the greater Providence area in Rhode Island, and 1 branch office located in southeastern Connecticut. Washington Trust Bancorp, Inc. was founded in 1800 and is headquartered in Westerly, Rhode Island.
Washington Trust Bancorp Price Performance
NASDAQ:WASH opened at $55.73 on Thursday. Washington Trust Bancorp has a 12 month low of $45.60 and a 12 month high of $60.96. The stock has a 50 day moving average of $50.69 and a two-hundred day moving average of $51.31. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.74. The firm has a market cap of $956.94 million, a P/E ratio of 12.96 and a beta of 0.77.
Washington Trust Bancorp (NASDAQ:WASH - Get Rating) last posted its quarterly earnings data on Monday, July 25th. The financial services provider reported $1.14 EPS for the quarter, topping the consensus estimate of $0.91 by $0.23. Washington Trust Bancorp had a return on equity of 14.28% and a net margin of 31.97%. During the same quarter last year, the company posted $1.00 earnings per share. On average, analysts expect that Washington Trust Bancorp will post 4.19 earnings per share for the current fiscal year.
Washington Trust Bancorp Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 8th. Shareholders of record on Friday, July 1st were paid a dividend of $0.54 per share. The ex-dividend date was Thursday, June 30th. This represents a $2.16 annualized dividend and a yield of 3.88%. Washington Trust Bancorp's dividend payout ratio (DPR) is currently 50.23%.
Analyst Ratings Changes
Several equities analysts recently weighed in on WASH shares. StockNews.com upgraded Washington Trust Bancorp from a "sell" rating to a "hold" rating in a research note on Monday, July 18th. Compass Point lifted their price target on Washington Trust Bancorp to $60.00 and gave the company an "outperform" rating in a research note on Wednesday, July 27th.