Seaport Res Ptn Analysts Cut Earnings Estimates for Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Washington Trust Bancorp, Inc. (NASDAQ:WASH) – Stock analysts at Seaport Res Ptn dropped their Q4 2024 earnings per share (EPS) estimates for shares of Washington Trust Bancorp in a research report issued to clients and investors on Thursday, April 25th. Seaport Res Ptn analyst L. Hunsicker now expects that the financial services provider will post earnings of $0.45 per share for the quarter, down from their previous forecast of $0.48. Seaport Res Ptn has a “Neutral” rating on the stock. The consensus estimate for Washington Trust Bancorp’s current full-year earnings is $1.91 per share. Seaport Res Ptn also issued estimates for Washington Trust Bancorp’s Q1 2025 earnings at $0.47 EPS, Q2 2025 earnings at $0.53 EPS, Q3 2025 earnings at $0.55 EPS, Q4 2025 earnings at $0.55 EPS and FY2025 earnings at $2.10 EPS.

Separately, StockNews.com raised Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday.

Washington Trust Bancorp Stock Down 1.8 %

WASH opened at $25.99 on Friday. The company has a debt-to-equity ratio of 2.57, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $442.61 million, a price-to-earnings ratio of 9.59 and a beta of 0.81. The business has a 50-day moving average of $25.81 and a two-hundred day moving average of $27.21. Washington Trust Bancorp has a 12 month low of $21.69 and a 12 month high of $33.96.

Washington Trust Bancorp (NASDAQ:WASH) last posted its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.54 by $0.22. The company had revenue of $45.96 million during the quarter, compared to analysts’ expectations of $47.38 million. Washington Trust Bancorp had a return on equity of 10.18% and a net margin of 12.01%.

Hedge Funds Weigh In On Washington Trust Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC lifted its position in Washington Trust Bancorp by 0.4% during the 3rd quarter. FMR LLC now owns 1,314,538 shares of the financial services provider’s stock worth $34,612,000 after acquiring an additional 4,731 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Washington Trust Bancorp by 9.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 774,705 shares of the financial services provider’s stock worth $25,086,000 after acquiring an additional 68,930 shares in the last quarter. Third Avenue Management LLC lifted its position in Washington Trust Bancorp by 44.5% during the 3rd quarter. Third Avenue Management LLC now owns 294,994 shares of the financial services provider’s stock worth $8,050,000 after acquiring an additional 90,842 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Washington Trust Bancorp by 7.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 235,586 shares of the financial services provider’s stock worth $7,628,000 after acquiring an additional 16,378 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in Washington Trust Bancorp by 13.2% during the 3rd quarter. American Century Companies Inc. now owns 169,477 shares of the financial services provider’s stock worth $4,462,000 after acquiring an additional 19,730 shares in the last quarter. 65.81% of the stock is owned by institutional investors and hedge funds.

Washington Trust Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Monday, April 1st were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 8.62%. The ex-dividend date was Thursday, March 28th. Washington Trust Bancorp’s dividend payout ratio is currently 82.66%.

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.