Annual Income Statements for Washington Trust Bancorp
This table shows Washington Trust Bancorp's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for Washington Trust Bancorp
This table shows Washington Trust Bancorp's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Net Income / (Loss) Attributable to Common Shareholders |
|
19 |
17 |
13 |
11 |
11 |
13 |
11 |
11 |
11 |
-61 |
Consolidated Net Income / (Loss) |
|
19 |
17 |
13 |
11 |
11 |
13 |
11 |
11 |
11 |
-61 |
Net Income / (Loss) Continuing Operations |
|
19 |
17 |
13 |
11 |
11 |
13 |
11 |
11 |
11 |
-61 |
Total Pre-Tax Income |
|
24 |
21 |
16 |
14 |
14 |
12 |
14 |
14 |
14 |
-80 |
Total Revenue |
|
58 |
55 |
50 |
48 |
49 |
46 |
49 |
48 |
49 |
-45 |
Net Interest Income / (Expense) |
|
83 |
0.10 |
74 |
66 |
67 |
-70 |
63 |
63 |
64 |
-61 |
Total Interest Income |
|
52 |
62 |
69 |
75 |
81 |
84 |
85 |
86 |
88 |
82 |
Loans and Leases Interest Income |
|
45 |
55 |
60 |
66 |
72 |
76 |
77 |
77 |
77 |
75 |
Investment Securities Interest Income |
|
6.06 |
6.62 |
7.19 |
7.40 |
7.27 |
7.19 |
7.10 |
6.94 |
6.80 |
7.02 |
Other Interest Income |
|
0.50 |
0.86 |
1.07 |
1.28 |
1.34 |
1.28 |
1.20 |
1.30 |
3.17 |
1.31 |
Total Interest Expense |
|
10 |
20 |
32 |
42 |
47 |
51 |
54 |
54 |
55 |
49 |
Deposits Interest Expense |
|
6.66 |
12 |
20 |
30 |
34 |
37 |
38 |
37 |
37 |
34 |
Long-Term Debt Interest Expense |
|
0.21 |
0.30 |
0.35 |
0.37 |
0.40 |
0.41 |
0.41 |
0.40 |
0.40 |
0.38 |
Federal Funds Purchased and Securities Sold Interest Expense |
|
3.23 |
7.82 |
12 |
12 |
12 |
14 |
15 |
17 |
18 |
14 |
Total Non-Interest Income |
|
16 |
14 |
13 |
14 |
15 |
13 |
17 |
17 |
16 |
-78 |
Service Charges on Deposit Accounts |
|
0.82 |
0.94 |
0.78 |
0.67 |
0.67 |
0.69 |
0.69 |
0.77 |
0.78 |
0.79 |
Other Service Charges |
|
3.73 |
2.79 |
2.73 |
3.48 |
3.81 |
2.89 |
6.12 |
5.41 |
4.60 |
4.41 |
Net Realized & Unrealized Capital Gains on Investments |
|
1.04 |
0.75 |
-0.05 |
0.25 |
1.08 |
0.11 |
0.28 |
0.05 |
0.13 |
-94 |
Investment Banking Income |
|
9.53 |
8.62 |
8.66 |
9.05 |
8.95 |
8.88 |
9.34 |
9.68 |
9.99 |
10 |
Other Non-Interest Income |
|
0.68 |
0.69 |
1.17 |
0.88 |
0.71 |
0.73 |
0.74 |
0.75 |
0.77 |
0.78 |
Provision for Credit Losses |
|
0.80 |
0.80 |
0.80 |
0.70 |
0.50 |
1.20 |
0.70 |
0.50 |
0.20 |
1.00 |
Total Non-Interest Expense |
|
33 |
33 |
34 |
33 |
34 |
33 |
34 |
34 |
35 |
34 |
Salaries and Employee Benefits |
|
22 |
21 |
22 |
21 |
22 |
18 |
22 |
21 |
21 |
22 |
Net Occupancy & Equipment Expense |
|
3.17 |
3.42 |
3.47 |
3.47 |
3.49 |
3.53 |
3.58 |
3.36 |
3.32 |
3.36 |
Marketing Expense |
|
0.80 |
0.71 |
0.41 |
0.43 |
0.79 |
0.94 |
0.55 |
0.66 |
0.86 |
0.56 |
Property & Liability Insurance Claims |
|
0.43 |
0.49 |
0.87 |
1.37 |
1.19 |
1.24 |
1.44 |
1.40 |
1.40 |
1.27 |
Other Operating Expenses |
|
6.84 |
7.71 |
6.82 |
6.95 |
7.09 |
8.21 |
6.81 |
7.02 |
7.37 |
7.02 |
Amortization Expense |
|
0.22 |
0.21 |
0.21 |
0.21 |
0.21 |
0.21 |
0.21 |
0.21 |
0.21 |
0.20 |
Income Tax Expense |
|
5.31 |
4.40 |
3.30 |
2.85 |
2.93 |
-0.77 |
2.83 |
3.02 |
2.85 |
-19 |
Basic Earnings per Share |
|
$1.08 |
$0.96 |
$0.75 |
$0.66 |
$0.65 |
$0.76 |
$0.64 |
$0.63 |
$0.64 |
($3.54) |
Weighted Average Basic Shares Outstanding |
|
17.17M |
17.25M |
17.07M |
17.01M |
17.02M |
17.03M |
17.03M |
17.05M |
17.06M |
17.15M |
Diluted Earnings per Share |
|
$1.08 |
$0.95 |
$0.74 |
$0.66 |
$0.65 |
$0.77 |
$0.64 |
$0.63 |
$0.64 |
($3.54) |
Weighted Average Diluted Shares Outstanding |
|
17.30M |
17.38M |
17.17M |
17.03M |
17.04M |
17.06M |
17.07M |
17.11M |
17.14M |
17.15M |
Weighted Average Basic & Diluted Shares Outstanding |
|
17.18M |
17.16M |
17.02M |
17.02M |
17.03M |
17.03M |
17.05M |
17.06M |
17.06M |
19.28M |
Annual Cash Flow Statements for Washington Trust Bancorp
This table details how cash moves in and out of Washington Trust Bancorp's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.
Metric |
2022 |
2023 |
2024 |
Net Change in Cash & Equivalents |
-60 |
-28 |
24 |
Net Cash From Operating Activities |
113 |
32 |
58 |
Net Cash From Continuing Operating Activities |
113 |
32 |
58 |
Net Income / (Loss) Continuing Operations |
72 |
48 |
-28 |
Consolidated Net Income / (Loss) |
72 |
48 |
-28 |
Provision For Loan Losses |
-1.30 |
3.20 |
2.40 |
Depreciation Expense |
3.47 |
4.01 |
3.93 |
Amortization Expense |
3.75 |
8.66 |
11 |
Non-Cash Adjustments to Reconcile Net Income |
32 |
-12 |
73 |
Changes in Operating Assets and Liabilities, net |
3.35 |
-21 |
-4.01 |
Net Cash From Investing Activities |
-999 |
-551 |
231 |
Net Cash From Continuing Investing Activities |
-999 |
-551 |
231 |
Purchase of Property, Leasehold Improvements and Equipment |
-6.14 |
-5.05 |
-4.00 |
Purchase of Investment Securities |
-1,109 |
-620 |
-218 |
Sale of Property, Leasehold Improvements and Equipment |
0.00 |
0.00 |
1.67 |
Sale and/or Maturity of Investments |
116 |
74 |
451 |
Net Cash From Financing Activities |
826 |
491 |
-265 |
Net Cash From Continuing Financing Activities |
826 |
491 |
-265 |
Net Change in Deposits |
39 |
329 |
-232 |
Issuance of Debt |
3,156 |
3,515 |
2,385 |
Issuance of Common Equity |
0.00 |
0.00 |
71 |
Repayment of Debt |
-2,321 |
-3,305 |
-2,450 |
Repurchase of Common Equity |
-9.48 |
-8.81 |
0.00 |
Payment of Dividends |
-38 |
-39 |
-38 |
Other Financing Activities, Net |
-0.82 |
-0.75 |
-0.03 |
Cash Interest Paid |
32 |
157 |
217 |
Cash Income Taxes Paid |
18 |
9.93 |
7.24 |
Quarterly Cash Flow Statements for Washington Trust Bancorp
This table details how cash moves in and out of Washington Trust Bancorp's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Net Change in Cash & Equivalents |
|
34 |
-14 |
20 |
-9.96 |
-15 |
-23 |
15 |
1.94 |
103 |
-97 |
Net Cash From Operating Activities |
|
20 |
41 |
11 |
-21 |
30 |
12 |
1.95 |
11 |
26 |
19 |
Net Cash From Continuing Operating Activities |
|
20 |
41 |
11 |
-21 |
30 |
12 |
1.96 |
11 |
26 |
19 |
Net Income / (Loss) Continuing Operations |
|
19 |
17 |
13 |
11 |
11 |
13 |
11 |
11 |
11 |
-61 |
Consolidated Net Income / (Loss) |
|
19 |
17 |
13 |
11 |
11 |
13 |
11 |
11 |
11 |
-61 |
Provision For Loan Losses |
|
0.80 |
0.80 |
0.80 |
0.70 |
0.50 |
1.20 |
0.70 |
0.50 |
0.20 |
1.00 |
Depreciation Expense |
|
0.88 |
0.91 |
0.98 |
1.00 |
1.03 |
1.00 |
1.00 |
1.00 |
0.98 |
0.96 |
Amortization Expense |
|
0.85 |
0.62 |
0.54 |
0.60 |
0.54 |
6.99 |
0.47 |
0.52 |
0.51 |
9.20 |
Non-Cash Adjustments to Reconcile Net Income |
|
-1.82 |
17 |
1.02 |
-15 |
9.78 |
-7.60 |
-6.06 |
-2.29 |
5.31 |
76 |
Changes in Operating Assets and Liabilities, net |
|
0.85 |
5.55 |
-5.04 |
-20 |
6.85 |
-2.89 |
-5.10 |
0.64 |
7.87 |
-7.42 |
Net Cash From Investing Activities |
|
-411 |
-275 |
-167 |
-139 |
-217 |
-27 |
-27 |
63 |
141 |
54 |
Net Cash From Continuing Investing Activities |
|
-411 |
-275 |
-167 |
-139 |
-217 |
-27 |
-27 |
63 |
141 |
54 |
Purchase of Property, Leasehold Improvements and Equipment |
|
-1.34 |
-2.32 |
-1.14 |
-1.88 |
-0.50 |
-1.52 |
-0.63 |
-1.62 |
-1.27 |
-0.48 |
Purchase of Investment Securities |
|
-416 |
-311 |
-185 |
-153 |
-230 |
-52 |
-38 |
54 |
114 |
-347 |
Sale and/or Maturity of Investments |
|
6.19 |
39 |
19 |
16 |
14 |
26 |
12 |
8.65 |
29 |
402 |
Net Cash From Financing Activities |
|
425 |
220 |
176 |
150 |
172 |
-7.16 |
40 |
-72 |
-64 |
-170 |
Net Cash From Continuing Financing Activities |
|
425 |
220 |
176 |
150 |
172 |
-7.16 |
40 |
-72 |
-64 |
-170 |
Net Change in Deposits |
|
63 |
-51 |
250 |
46 |
101 |
-67 |
-0.27 |
-372 |
196 |
-56 |
Issuance of Debt |
|
1,166 |
1,210 |
1,005 |
980 |
910 |
620 |
860 |
910 |
200 |
415 |
Issuance of Common Equity |
|
- |
0.72 |
-0.03 |
-0.61 |
0.00 |
0.64 |
-0.02 |
-0.25 |
- |
71 |
Repayment of Debt |
|
-794 |
-930 |
-1,060 |
-865 |
-830 |
-550 |
-810 |
-600 |
-450 |
-590 |
Payment of Dividends |
|
-9.32 |
-9.31 |
-9.65 |
-9.86 |
-9.55 |
-9.57 |
-9.55 |
-9.73 |
-9.56 |
-9.56 |
Other Financing Activities, Net |
|
0.01 |
-0.89 |
-0.00 |
-0.00 |
0.01 |
-0.75 |
-0.01 |
- |
- |
0.10 |
Cash Interest Paid |
|
8.04 |
16 |
28 |
37 |
43 |
49 |
55 |
60 |
54 |
49 |
Cash Income Taxes Paid |
|
5.41 |
4.69 |
0.94 |
3.51 |
2.38 |
3.10 |
3.42 |
1.23 |
2.33 |
0.26 |
Annual Balance Sheets for Washington Trust Bancorp
This table presents Washington Trust Bancorp's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.
Metric |
2022 |
2023 |
2024 |
Total Assets |
6,660 |
7,203 |
6,931 |
Cash and Due from Banks |
115 |
55 |
22 |
Interest Bearing Deposits at Other Banks |
- |
32 |
88 |
Trading Account Securities |
994 |
1,000 |
1,198 |
Loans and Leases, Net of Allowance |
5,072 |
-41 |
-42 |
Allowance for Loan and Lease Losses |
38 |
41 |
42 |
Loans Held for Sale |
8.99 |
20 |
22 |
Premises and Equipment, Net |
32 |
32 |
27 |
Goodwill |
64 |
64 |
64 |
Intangible Assets |
4.55 |
3.71 |
2.89 |
Other Assets |
370 |
6,037 |
5,549 |
Total Liabilities & Shareholders' Equity |
6,660 |
7,203 |
6,931 |
Total Liabilities |
6,206 |
6,730 |
6,431 |
Non-Interest Bearing Deposits |
859 |
694 |
662 |
Interest Bearing Deposits |
4,160 |
4,654 |
4,454 |
Long-Term Debt |
1,003 |
1,213 |
1,148 |
Other Long-Term Liabilities |
185 |
169 |
167 |
Commitments & Contingencies |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
454 |
473 |
500 |
Total Preferred & Common Equity |
454 |
473 |
500 |
Total Common Equity |
454 |
473 |
500 |
Common Stock |
128 |
127 |
198 |
Retained Earnings |
492 |
502 |
434 |
Treasury Stock |
-8.72 |
-15 |
-13 |
Accumulated Other Comprehensive Income / (Loss) |
-158 |
-141 |
-119 |
Quarterly Balance Sheets for Washington Trust Bancorp
This table presents Washington Trust Bancorp's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Total Assets |
|
6,408 |
6,859 |
7,012 |
7,183 |
7,249 |
7,184 |
7,142 |
Cash and Due from Banks |
|
130 |
135 |
125 |
109 |
102 |
104 |
207 |
Trading Account Securities |
|
983 |
1,055 |
1,022 |
959 |
970 |
952 |
973 |
Loans and Leases, Net of Allowance |
|
4,812 |
5,189 |
5,342 |
5,571 |
5,643 |
5,587 |
5,472 |
Loans and Leases |
|
4,849 |
5,228 |
5,381 |
5,611 |
5,685 |
5,629 |
5,515 |
Allowance for Loan and Lease Losses |
|
37 |
39 |
39 |
40 |
42 |
42 |
43 |
Loans Held for Sale |
|
24 |
7.45 |
21 |
11 |
25 |
26 |
21 |
Premises and Equipment, Net |
|
30 |
32 |
33 |
32 |
32 |
32 |
32 |
Goodwill |
|
64 |
64 |
64 |
64 |
64 |
64 |
64 |
Intangible Assets |
|
4.77 |
4.34 |
4.13 |
3.92 |
3.50 |
3.30 |
3.09 |
Other Assets |
|
361 |
373 |
401 |
434 |
409 |
417 |
369 |
Total Liabilities & Shareholders' Equity |
|
6,408 |
6,859 |
7,012 |
7,183 |
7,249 |
7,184 |
7,142 |
Total Liabilities |
|
5,976 |
6,394 |
6,553 |
6,752 |
6,782 |
6,713 |
6,639 |
Non-Interest Bearing Deposits |
|
939 |
830 |
758 |
773 |
649 |
646 |
666 |
Interest Bearing Deposits |
|
4,131 |
4,439 |
4,556 |
4,642 |
4,699 |
4,330 |
4,506 |
Long-Term Debt |
|
723 |
948 |
1,063 |
1,143 |
1,263 |
1,573 |
1,323 |
Other Long-Term Liabilities |
|
183 |
178 |
175 |
194 |
172 |
165 |
145 |
Commitments & Contingencies |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
|
432 |
465 |
459 |
431 |
467 |
471 |
502 |
Total Preferred & Common Equity |
|
432 |
465 |
459 |
431 |
467 |
471 |
502 |
Total Common Equity |
|
432 |
465 |
459 |
431 |
467 |
471 |
502 |
Common Stock |
|
128 |
129 |
127 |
127 |
128 |
127 |
128 |
Retained Earnings |
|
485 |
495 |
497 |
499 |
503 |
504 |
506 |
Treasury Stock |
|
-9.27 |
-17 |
-16 |
-16 |
-15 |
-14 |
-14 |
Accumulated Other Comprehensive Income / (Loss) |
|
-172 |
-142 |
-149 |
-179 |
-149 |
-146 |
-117 |
Annual Metrics And Ratios for Washington Trust Bancorp
This table displays calculated financial ratios and metrics derived from Washington Trust Bancorp's official financial filings.
Metric |
2022 |
2023 |
2024 |
Growth Metrics |
- |
- |
- |
Revenue Growth |
-4.47% |
-11.60% |
-47.91% |
EBITDA Growth |
-7.12% |
-29.72% |
-134.98% |
EBIT Growth |
-7.15% |
-38.05% |
-168.73% |
NOPAT Growth |
-6.75% |
-32.79% |
-156.40% |
Net Income Growth |
-6.75% |
-32.79% |
-158.24% |
EPS Growth |
-6.38% |
-31.39% |
-157.80% |
Operating Cash Flow Growth |
12.10% |
-72.03% |
82.48% |
Free Cash Flow Firm Growth |
-231.72% |
72.27% |
105.96% |
Invested Capital Growth |
98.82% |
15.73% |
-2.25% |
Revenue Q/Q Growth |
-1.32% |
-4.53% |
-47.46% |
EBITDA Q/Q Growth |
-4.77% |
-3.27% |
-140.58% |
EBIT Q/Q Growth |
-4.88% |
-13.48% |
-172.42% |
NOPAT Q/Q Growth |
-4.80% |
-7.00% |
-159.49% |
Net Income Q/Q Growth |
-4.80% |
-7.00% |
-161.43% |
EPS Q/Q Growth |
-4.64% |
-6.00% |
-160.82% |
Operating Cash Flow Q/Q Growth |
71.91% |
-48.29% |
14.20% |
Free Cash Flow Firm Q/Q Growth |
-133.70% |
50.77% |
105.26% |
Invested Capital Q/Q Growth |
26.10% |
7.07% |
-9.73% |
Profitability Metrics |
- |
- |
- |
EBITDA Margin |
45.01% |
35.78% |
-24.03% |
EBIT Margin |
41.71% |
29.23% |
-38.57% |
Profit (Net Income) Margin |
32.79% |
24.93% |
-27.88% |
Tax Burden Percent |
78.62% |
85.30% |
72.28% |
Interest Burden Percent |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
21.38% |
14.70% |
0.00% |
Return on Invested Capital (ROIC) |
6.55% |
3.07% |
-1.63% |
ROIC Less NNEP Spread (ROIC-NNEP) |
6.55% |
3.07% |
-1.71% |
Return on Net Nonoperating Assets (RNNOA) |
7.53% |
7.33% |
-4.14% |
Return on Equity (ROE) |
14.08% |
10.40% |
-5.77% |
Cash Return on Invested Capital (CROIC) |
-59.59% |
-11.51% |
0.65% |
Operating Return on Assets (OROA) |
1.46% |
0.81% |
-0.55% |
Return on Assets (ROA) |
1.15% |
0.70% |
-0.40% |
Return on Common Equity (ROCE) |
14.08% |
10.40% |
-5.77% |
Return on Equity Simple (ROE_SIMPLE) |
15.80% |
10.19% |
-5.61% |
Net Operating Profit after Tax (NOPAT) |
72 |
48 |
-27 |
NOPAT Margin |
32.79% |
24.93% |
-27.00% |
Net Nonoperating Expense Percent (NNEP) |
0.00% |
0.00% |
0.08% |
SG&A Expenses to Revenue |
45.43% |
51.22% |
101.85% |
Operating Expenses to Revenue |
58.89% |
69.12% |
136.18% |
Earnings before Interest and Taxes (EBIT) |
91 |
56 |
-39 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
98 |
69 |
-24 |
Valuation Ratios |
- |
- |
- |
Price to Book Value (P/BV) |
1.54 |
1.08 |
1.05 |
Price to Tangible Book Value (P/TBV) |
1.81 |
1.26 |
1.21 |
Price to Revenue (P/Rev) |
3.19 |
2.64 |
5.22 |
Price to Earnings (P/E) |
9.72 |
10.60 |
0.00 |
Dividend Yield |
5.37% |
7.47% |
7.28% |
Earnings Yield |
10.28% |
9.43% |
0.00% |
Enterprise Value to Invested Capital (EV/IC) |
1.09 |
0.97 |
0.95 |
Enterprise Value to Revenue (EV/Rev) |
7.25 |
8.47 |
15.53 |
Enterprise Value to EBITDA (EV/EBITDA) |
16.10 |
23.67 |
0.00 |
Enterprise Value to EBIT (EV/EBIT) |
17.38 |
28.98 |
0.00 |
Enterprise Value to NOPAT (EV/NOPAT) |
22.10 |
33.97 |
0.00 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
14.02 |
51.78 |
27.11 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
0.00 |
0.00 |
144.94 |
Leverage & Solvency |
- |
- |
- |
Debt to Equity |
2.21 |
2.57 |
2.30 |
Long-Term Debt to Equity |
2.21 |
2.57 |
2.30 |
Financial Leverage |
1.15 |
2.39 |
2.43 |
Leverage Ratio |
12.28 |
14.97 |
14.53 |
Compound Leverage Factor |
12.28 |
14.97 |
14.53 |
Debt to Total Capital |
68.85% |
71.95% |
69.67% |
Short-Term Debt to Total Capital |
0.00% |
0.00% |
0.00% |
Long-Term Debt to Total Capital |
68.85% |
71.95% |
69.67% |
Preferred Equity to Total Capital |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
31.15% |
28.05% |
30.33% |
Debt to EBITDA |
10.19 |
17.54 |
-47.45 |
Net Debt to EBITDA |
9.02 |
16.28 |
-42.91 |
Long-Term Debt to EBITDA |
10.19 |
17.54 |
-47.45 |
Debt to NOPAT |
13.99 |
25.17 |
-42.24 |
Net Debt to NOPAT |
12.38 |
23.37 |
-38.19 |
Long-Term Debt to NOPAT |
13.99 |
25.17 |
-42.24 |
Noncontrolling Interest Sharing Ratio |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
- |
- |
- |
Cash Flow Metrics |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
-652 |
-181 |
11 |
Operating Cash Flow to CapEx |
1,840.79% |
626.05% |
2,472.90% |
Free Cash Flow to Firm to Interest Expense |
-16.95 |
-1.05 |
0.05 |
Operating Cash Flow to Interest Expense |
2.94 |
0.18 |
0.27 |
Operating Cash Flow Less CapEx to Interest Expense |
2.78 |
0.15 |
0.26 |
Efficiency Ratios |
- |
- |
- |
Asset Turnover |
0.03 |
0.03 |
0.01 |
Fixed Asset Turnover |
7.23 |
6.05 |
3.40 |
Capital & Investment Metrics |
- |
- |
- |
Invested Capital |
1,456 |
1,685 |
1,647 |
Invested Capital Turnover |
0.20 |
0.12 |
0.06 |
Increase / (Decrease) in Invested Capital |
724 |
229 |
-38 |
Enterprise Value (EV) |
1,584 |
1,637 |
1,563 |
Market Capitalization |
697 |
511 |
525 |
Book Value per Share |
$26.41 |
$27.75 |
$29.28 |
Tangible Book Value per Share |
$22.42 |
$23.78 |
$25.37 |
Total Capital |
1,456 |
1,685 |
1,647 |
Total Debt |
1,003 |
1,213 |
1,148 |
Total Long-Term Debt |
1,003 |
1,213 |
1,148 |
Net Debt |
887 |
1,126 |
1,038 |
Capital Expenditures (CapEx) |
6.14 |
5.05 |
2.33 |
Net Nonoperating Expense (NNE) |
0.00 |
0.00 |
0.89 |
Net Nonoperating Obligations (NNO) |
1,003 |
1,213 |
1,148 |
Total Depreciation and Amortization (D&A) |
7.22 |
13 |
15 |
Earnings Adjustments |
- |
- |
- |
Adjusted Basic Earnings per Share |
$4.14 |
$2.82 |
($1.63) |
Adjusted Weighted Average Basic Shares Outstanding |
17.25M |
17.03M |
17.15M |
Adjusted Diluted Earnings per Share |
$4.11 |
$2.82 |
($1.63) |
Adjusted Weighted Average Diluted Shares Outstanding |
17.38M |
17.06M |
17.15M |
Adjusted Basic & Diluted Earnings per Share |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
17.16M |
17.03M |
19.28M |
Normalized Net Operating Profit after Tax (NOPAT) |
72 |
48 |
-27 |
Normalized NOPAT Margin |
32.79% |
24.93% |
-27.00% |
Pre Tax Income Margin |
41.71% |
29.23% |
-38.57% |
Debt Service Ratios |
- |
- |
- |
EBIT to Interest Expense |
2.37 |
0.33 |
-0.18 |
NOPAT to Interest Expense |
1.86 |
0.28 |
-0.13 |
EBIT Less CapEx to Interest Expense |
2.21 |
0.30 |
-0.19 |
NOPAT Less CapEx to Interest Expense |
1.70 |
0.25 |
-0.14 |
Payout Ratios |
- |
- |
- |
Dividend Payout Ratio |
52.52% |
80.19% |
-136.84% |
Augmented Payout Ratio |
65.74% |
98.48% |
-136.84% |
Quarterly Metrics And Ratios for Washington Trust Bancorp
This table displays calculated financial ratios and metrics derived from Washington Trust Bancorp's official financial filings.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
2.22% |
-5.03% |
-3.40% |
-10.38% |
-15.33% |
-16.63% |
-3.26% |
0.88% |
-0.90% |
-197.82% |
EBITDA Growth |
|
0.61% |
-17.97% |
-23.22% |
-42.29% |
-39.14% |
-10.39% |
-13.53% |
-2.29% |
-2.13% |
-447.60% |
EBIT Growth |
|
-0.38% |
-18.24% |
-23.02% |
-44.21% |
-41.25% |
-41.95% |
-14.57% |
-1.94% |
-1.82% |
-759.23% |
NOPAT Growth |
|
-0.44% |
-17.91% |
-22.27% |
-43.60% |
-40.21% |
-21.88% |
-14.64% |
-3.92% |
-1.61% |
-533.87% |
Net Income Growth |
|
-0.44% |
-17.91% |
-22.27% |
-43.60% |
-40.21% |
-21.88% |
-14.64% |
-3.92% |
-1.61% |
-569.54% |
EPS Growth |
|
0.93% |
-17.39% |
-21.28% |
-42.11% |
-39.81% |
-18.95% |
-13.51% |
-4.55% |
-1.54% |
-559.74% |
Operating Cash Flow Growth |
|
-57.37% |
773.89% |
-71.23% |
-261.04% |
47.47% |
-71.70% |
-82.44% |
153.25% |
-13.85% |
61.55% |
Free Cash Flow Firm Growth |
|
-157.08% |
-261.32% |
-280.25% |
-497.78% |
-21.53% |
69.45% |
62.17% |
25.22% |
41.21% |
91.57% |
Invested Capital Growth |
|
44.26% |
98.82% |
139.08% |
83.95% |
36.29% |
15.73% |
22.44% |
34.29% |
15.93% |
-2.25% |
Revenue Q/Q Growth |
|
8.39% |
-4.69% |
-8.44% |
-5.25% |
2.41% |
-6.16% |
6.24% |
-1.19% |
0.60% |
-192.63% |
EBITDA Q/Q Growth |
|
-5.52% |
-12.50% |
-21.68% |
-10.87% |
-0.36% |
28.84% |
11.24% |
0.72% |
-0.20% |
-557.57% |
EBIT Q/Q Growth |
|
-5.19% |
-12.54% |
-23.17% |
-12.43% |
-0.16% |
-13.59% |
13.08% |
0.51% |
-0.04% |
-680.25% |
NOPAT Q/Q Growth |
|
-6.46% |
-11.22% |
-22.69% |
-12.14% |
-0.84% |
16.00% |
-15.53% |
-1.11% |
1.53% |
-611.55% |
Net Income Q/Q Growth |
|
-6.46% |
-11.22% |
-22.69% |
-12.14% |
-0.84% |
16.00% |
-15.53% |
-1.11% |
1.53% |
-653.60% |
EPS Q/Q Growth |
|
-5.26% |
-12.04% |
-22.11% |
-10.81% |
-1.52% |
18.46% |
-16.88% |
-1.56% |
1.59% |
-653.13% |
Operating Cash Flow Q/Q Growth |
|
55.28% |
103.31% |
-73.05% |
-289.26% |
242.19% |
-60.98% |
-83.28% |
473.97% |
130.02% |
-26.82% |
Free Cash Flow Firm Q/Q Growth |
|
-295.43% |
-110.69% |
-14.38% |
15.54% |
40.29% |
47.04% |
-41.62% |
-66.99% |
53.06% |
92.41% |
Invested Capital Q/Q Growth |
|
39.60% |
26.10% |
-3.00% |
7.73% |
3.43% |
7.07% |
2.62% |
18.16% |
-10.70% |
-9.73% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
44.46% |
40.82% |
34.91% |
32.84% |
31.96% |
43.87% |
31.21% |
31.81% |
31.56% |
0.00% |
EBIT Margin |
|
41.45% |
38.04% |
31.92% |
29.50% |
28.76% |
26.49% |
28.19% |
28.68% |
28.50% |
0.00% |
Profit (Net Income) Margin |
|
32.27% |
30.06% |
25.38% |
23.54% |
22.79% |
28.17% |
22.40% |
22.42% |
22.63% |
0.00% |
Tax Burden Percent |
|
77.85% |
79.03% |
79.52% |
79.78% |
79.23% |
106.36% |
79.45% |
78.17% |
79.40% |
75.75% |
Interest Burden Percent |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
|
22.15% |
20.97% |
20.48% |
20.22% |
20.77% |
-6.36% |
20.55% |
21.83% |
20.60% |
0.00% |
Return on Invested Capital (ROIC) |
|
7.31% |
6.00% |
5.49% |
4.23% |
3.38% |
3.47% |
2.73% |
2.41% |
2.55% |
0.00% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
7.31% |
6.00% |
5.49% |
4.23% |
3.38% |
3.47% |
2.73% |
2.41% |
2.55% |
0.00% |
Return on Net Nonoperating Assets (RNNOA) |
|
7.17% |
6.90% |
5.76% |
6.39% |
7.30% |
8.29% |
6.48% |
6.84% |
6.73% |
0.00% |
Return on Equity (ROE) |
|
14.48% |
12.90% |
11.25% |
10.63% |
10.68% |
11.75% |
9.21% |
9.26% |
9.28% |
0.00% |
Cash Return on Invested Capital (CROIC) |
|
-28.54% |
-59.59% |
-75.25% |
-54.08% |
-26.92% |
-11.51% |
-17.23% |
-26.70% |
-12.07% |
0.65% |
Operating Return on Assets (OROA) |
|
1.48% |
1.33% |
1.09% |
0.96% |
0.86% |
0.74% |
0.77% |
0.78% |
0.76% |
0.00% |
Return on Assets (ROA) |
|
1.15% |
1.05% |
0.87% |
0.77% |
0.68% |
0.79% |
0.61% |
0.61% |
0.61% |
0.00% |
Return on Common Equity (ROCE) |
|
14.48% |
12.90% |
11.25% |
10.63% |
10.68% |
11.75% |
9.21% |
9.26% |
9.28% |
0.00% |
Return on Equity Simple (ROE_SIMPLE) |
|
17.42% |
0.00% |
14.63% |
12.92% |
12.01% |
0.00% |
9.92% |
9.74% |
9.10% |
0.00% |
Net Operating Profit after Tax (NOPAT) |
|
19 |
17 |
13 |
11 |
11 |
13 |
11 |
11 |
11 |
-56 |
NOPAT Margin |
|
32.27% |
30.06% |
25.38% |
23.54% |
22.79% |
28.17% |
22.40% |
22.42% |
22.63% |
0.00% |
Net Nonoperating Expense Percent (NNEP) |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.39% |
SG&A Expenses to Revenue |
|
44.22% |
45.25% |
50.83% |
51.19% |
52.89% |
49.89% |
53.05% |
52.39% |
52.60% |
0.00% |
Operating Expenses to Revenue |
|
57.16% |
60.51% |
66.50% |
69.04% |
70.22% |
70.90% |
70.38% |
70.29% |
71.09% |
0.00% |
Earnings before Interest and Taxes (EBIT) |
|
24 |
21 |
16 |
14 |
14 |
12 |
14 |
14 |
14 |
-80 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
26 |
23 |
18 |
16 |
16 |
20 |
15 |
15 |
15 |
-70 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
1.63 |
1.54 |
1.16 |
0.92 |
0.96 |
1.08 |
0.96 |
0.97 |
1.08 |
1.05 |
Price to Tangible Book Value (P/TBV) |
|
1.93 |
1.81 |
1.36 |
1.08 |
1.14 |
1.26 |
1.12 |
1.13 |
1.24 |
1.21 |
Price to Revenue (P/Rev) |
|
3.17 |
3.19 |
2.48 |
2.00 |
2.05 |
2.64 |
2.34 |
2.38 |
2.82 |
5.22 |
Price to Earnings (P/E) |
|
9.37 |
9.72 |
7.95 |
7.14 |
8.05 |
10.60 |
9.70 |
10.00 |
11.83 |
0.00 |
Dividend Yield |
|
5.28% |
5.37% |
7.01% |
8.96% |
9.18% |
7.47% |
8.51% |
8.34% |
7.08% |
7.28% |
Earnings Yield |
|
10.67% |
10.28% |
12.59% |
14.01% |
12.42% |
9.43% |
10.31% |
10.00% |
8.45% |
0.00% |
Enterprise Value to Invested Capital (EV/IC) |
|
1.12 |
1.09 |
0.96 |
0.89 |
0.92 |
0.97 |
0.93 |
0.94 |
0.91 |
0.95 |
Enterprise Value to Revenue (EV/Rev) |
|
5.85 |
7.25 |
6.23 |
6.43 |
7.16 |
8.47 |
8.40 |
10.03 |
8.64 |
15.53 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
12.54 |
16.10 |
14.52 |
16.67 |
20.27 |
23.67 |
26.68 |
32.15 |
27.78 |
0.00 |
Enterprise Value to EBIT (EV/EBIT) |
|
13.52 |
17.38 |
15.65 |
18.09 |
22.19 |
28.98 |
29.72 |
35.77 |
30.89 |
0.00 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
17.20 |
22.10 |
19.87 |
22.92 |
27.97 |
33.97 |
34.75 |
42.01 |
36.24 |
0.00 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
19.71 |
14.02 |
15.80 |
26.40 |
23.70 |
51.78 |
71.65 |
35.27 |
32.79 |
27.11 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
144.94 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
1.67 |
2.21 |
2.04 |
2.31 |
2.65 |
2.57 |
2.70 |
3.34 |
2.63 |
2.30 |
Long-Term Debt to Equity |
|
1.67 |
2.21 |
2.04 |
2.31 |
2.65 |
2.57 |
2.70 |
3.34 |
2.63 |
2.30 |
Financial Leverage |
|
0.98 |
1.15 |
1.05 |
1.51 |
2.16 |
2.39 |
2.37 |
2.83 |
2.64 |
2.43 |
Leverage Ratio |
|
12.57 |
12.28 |
12.99 |
13.89 |
15.74 |
14.97 |
15.14 |
15.26 |
15.34 |
14.53 |
Compound Leverage Factor |
|
12.57 |
12.28 |
12.99 |
13.89 |
15.74 |
14.97 |
15.14 |
15.26 |
15.34 |
14.53 |
Debt to Total Capital |
|
62.57% |
68.85% |
67.08% |
69.83% |
72.59% |
71.95% |
73.00% |
76.96% |
72.48% |
69.67% |
Short-Term Debt to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Long-Term Debt to Total Capital |
|
62.57% |
68.85% |
67.08% |
69.83% |
72.59% |
71.95% |
73.00% |
76.96% |
72.48% |
69.67% |
Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
|
37.43% |
31.15% |
32.92% |
30.17% |
27.41% |
28.05% |
27.00% |
23.05% |
27.52% |
30.33% |
Debt to EBITDA |
|
6.99 |
10.19 |
10.18 |
13.03 |
15.99 |
17.54 |
20.94 |
26.24 |
22.19 |
-47.45 |
Net Debt to EBITDA |
|
5.74 |
9.02 |
8.73 |
11.50 |
14.45 |
16.28 |
19.25 |
24.51 |
18.72 |
-42.91 |
Long-Term Debt to EBITDA |
|
6.99 |
10.19 |
10.18 |
13.03 |
15.99 |
17.54 |
20.94 |
26.24 |
22.19 |
-47.45 |
Debt to NOPAT |
|
9.60 |
13.99 |
13.93 |
17.92 |
22.06 |
25.17 |
27.27 |
34.29 |
28.96 |
-42.24 |
Net Debt to NOPAT |
|
7.87 |
12.38 |
11.95 |
15.81 |
19.95 |
23.37 |
25.07 |
32.03 |
24.43 |
-38.19 |
Long-Term Debt to NOPAT |
|
9.60 |
13.99 |
13.93 |
17.92 |
22.06 |
25.17 |
27.27 |
34.29 |
28.96 |
-42.24 |
Noncontrolling Interest Sharing Ratio |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
-336 |
-707 |
-809 |
-683 |
-408 |
-216 |
-306 |
-511 |
-240 |
-18 |
Operating Cash Flow to CapEx |
|
1,507.45% |
1,778.01% |
969.76% |
-1,119.19% |
5,923.61% |
764.44% |
311.18% |
690.19% |
2,020.35% |
3,904.56% |
Free Cash Flow to Firm to Interest Expense |
|
-33.25 |
-34.64 |
-25.63 |
-16.37 |
-8.69 |
-4.21 |
-5.71 |
-9.39 |
-4.34 |
-0.37 |
Operating Cash Flow to Interest Expense |
|
2.01 |
2.02 |
0.35 |
-0.50 |
0.64 |
0.23 |
0.04 |
0.21 |
0.46 |
0.38 |
Operating Cash Flow Less CapEx to Interest Expense |
|
1.87 |
1.90 |
0.32 |
-0.55 |
0.62 |
0.20 |
0.02 |
0.18 |
0.44 |
0.38 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.04 |
0.03 |
0.03 |
0.03 |
0.03 |
0.03 |
0.03 |
0.03 |
0.03 |
0.01 |
Fixed Asset Turnover |
|
7.55 |
7.23 |
7.16 |
6.78 |
6.52 |
6.05 |
6.02 |
5.96 |
5.98 |
3.40 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
1,155 |
1,456 |
1,413 |
1,522 |
1,574 |
1,685 |
1,730 |
2,044 |
1,825 |
1,647 |
Invested Capital Turnover |
|
0.23 |
0.20 |
0.22 |
0.18 |
0.15 |
0.12 |
0.12 |
0.11 |
0.11 |
0.06 |
Increase / (Decrease) in Invested Capital |
|
354 |
724 |
822 |
695 |
419 |
229 |
317 |
522 |
251 |
-38 |
Enterprise Value (EV) |
|
1,295 |
1,584 |
1,351 |
1,359 |
1,449 |
1,637 |
1,609 |
1,927 |
1,656 |
1,563 |
Market Capitalization |
|
703 |
697 |
539 |
422 |
415 |
511 |
448 |
458 |
540 |
525 |
Book Value per Share |
|
$25.17 |
$26.41 |
$27.10 |
$26.98 |
$25.35 |
$27.75 |
$27.41 |
$27.62 |
$29.44 |
$29.28 |
Tangible Book Value per Share |
|
$21.18 |
$22.42 |
$23.12 |
$22.98 |
$21.36 |
$23.78 |
$23.45 |
$23.67 |
$25.51 |
$25.37 |
Total Capital |
|
1,155 |
1,456 |
1,413 |
1,522 |
1,574 |
1,685 |
1,730 |
2,044 |
1,825 |
1,647 |
Total Debt |
|
723 |
1,003 |
948 |
1,063 |
1,143 |
1,213 |
1,263 |
1,573 |
1,323 |
1,148 |
Total Long-Term Debt |
|
723 |
1,003 |
948 |
1,063 |
1,143 |
1,213 |
1,263 |
1,573 |
1,323 |
1,148 |
Net Debt |
|
593 |
887 |
813 |
938 |
1,033 |
1,126 |
1,161 |
1,469 |
1,116 |
1,038 |
Capital Expenditures (CapEx) |
|
1.34 |
2.32 |
1.14 |
1.88 |
0.50 |
1.52 |
0.63 |
1.62 |
1.27 |
0.48 |
Net Nonoperating Expense (NNE) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
4.62 |
Net Nonoperating Obligations (NNO) |
|
723 |
1,003 |
948 |
1,063 |
1,143 |
1,213 |
1,263 |
1,573 |
1,323 |
1,148 |
Total Depreciation and Amortization (D&A) |
|
1.74 |
1.53 |
1.51 |
1.60 |
1.56 |
7.99 |
1.47 |
1.51 |
1.49 |
10 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$1.08 |
$0.96 |
$0.75 |
$0.66 |
$0.65 |
$0.76 |
$0.64 |
$0.63 |
$0.64 |
($3.54) |
Adjusted Weighted Average Basic Shares Outstanding |
|
17.17M |
17.25M |
17.07M |
17.01M |
17.02M |
17.03M |
17.03M |
17.05M |
17.06M |
17.15M |
Adjusted Diluted Earnings per Share |
|
$1.08 |
$0.95 |
$0.74 |
$0.66 |
$0.65 |
$0.77 |
$0.64 |
$0.63 |
$0.64 |
($3.54) |
Adjusted Weighted Average Diluted Shares Outstanding |
|
17.30M |
17.38M |
17.17M |
17.03M |
17.04M |
17.06M |
17.07M |
17.11M |
17.14M |
17.15M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
17.18M |
17.16M |
17.02M |
17.02M |
17.03M |
17.03M |
17.05M |
17.06M |
17.06M |
19.28M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
19 |
17 |
13 |
11 |
11 |
8.52 |
11 |
11 |
11 |
-56 |
Normalized NOPAT Margin |
|
32.27% |
30.06% |
25.38% |
23.54% |
22.79% |
18.54% |
22.40% |
22.42% |
22.63% |
0.00% |
Pre Tax Income Margin |
|
41.45% |
38.04% |
31.92% |
29.50% |
28.76% |
26.49% |
28.19% |
28.68% |
28.50% |
0.00% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
2.38 |
1.03 |
0.51 |
0.34 |
0.30 |
0.24 |
0.26 |
0.25 |
0.25 |
-1.64 |
NOPAT to Interest Expense |
|
1.85 |
0.81 |
0.41 |
0.27 |
0.24 |
0.25 |
0.20 |
0.20 |
0.20 |
-1.15 |
EBIT Less CapEx to Interest Expense |
|
2.24 |
0.91 |
0.47 |
0.29 |
0.29 |
0.21 |
0.25 |
0.22 |
0.23 |
-1.65 |
NOPAT Less CapEx to Interest Expense |
|
1.72 |
0.70 |
0.37 |
0.22 |
0.23 |
0.22 |
0.19 |
0.17 |
0.18 |
-1.16 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
49.65% |
52.52% |
55.73% |
64.30% |
74.07% |
80.19% |
83.22% |
83.73% |
84.08% |
-136.84% |
Augmented Payout Ratio |
|
62.24% |
65.74% |
82.52% |
80.55% |
90.94% |
98.48% |
83.38% |
83.89% |
84.24% |
-136.84% |
Key Financial Trends
Washington Trust Bancorp (NASDAQ:WASH) reported a sharp swing into a net loss in Q4 2024, driven primarily by large unrealized and realized investment losses, while underlying loan and deposit franchises remain intact. Here are the key takeaways from the past four quarters:
- Net interest income remained solid at roughly $32 million in Q4, supported by healthy loan yields despite a slight decline from Q3 levels.
- Operatingcash flow was positive in each quarter, with Q4 generating $18.7 million of cash from continuing operations.
- Book value per share held up at $29.28 in Q4 2024—up from about $27.41 at the start of the year.
- Dividend yield ticked higher to 7.28% in Q4 vs. 7.08% in Q3, underscoring the stock’s attractive income profile.
- Leverage eased slightly in Q4: long-term debt/total capital fell to 69.7% vs. 72.5% in Q3 as the bank balanced new debt issuance and paydowns.
- Loans and leases remained broadly flat around $5.47 billion in Q4 after growing through mid-year, reflecting a stable lending book.
- Trading securities (held for sale) and other investment portfolios have been actively managed—Q4 net cash of $54.2 million from investment sales shows liquidity management in action.
- Non-interest expenses were controlled, holding in the mid-$34 million range across the year, in line with revenues excluding investment swings.
- Free cash flow to the firm improved to –$18.2 million in Q4 from steeper outflows in prior quarters, reflecting normalized capital spending.
- Market valuations (P/B ~1.05, EV/IC ~0.95) remain consistent with regional bank peers, suggesting the shares trade with modestly conservative multiples.
- Q4 2024 non-interest income swung to –$77.9 million vs. +$16.3 million in Q3, driven by a $93.9 million net loss on capital gains and investment writedowns.
- The bank recorded a net loss of $60.8 million in Q4, or –$3.54 per share, compared with net income of +$10.9 million to +$10.8 million in each of the prior three quarters.
- Earnings per share turned sharply negative in Q4; the P/E multiple is now undefined until profitability returns.
- Deposits declined by $56.1 million in Q4 after a strong build earlier in the year, indicating some funding pressure in the quarter.
- Provision for credit losses rose to $1.0 million in Q4 vs. $0.2 million in Q3, hinting at modest asset-quality deterioration requiring monitoring.
Overall, core banking operations at Washington Trust remain profitable and generate consistent cash flow, but the Q4 2024 mark-to-market shock in its investment portfolio led to a sizable one-time loss. Investors should watch the pace of securities gains/losses, deposit trends and provisioning levels in coming quarters to assess the firm’s return to normalized earnings.
07/12/25 09:37 AMAI Generated. May Contain Errors.