Washington Trust Bancorp (NASDAQ:WASH) Posts Earnings Results

Washington Trust Bancorp (NASDAQ:WASH) released its quarterly earnings data on Monday. The financial services provider reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.01), Zacks reports. Washington Trust Bancorp had a positive return on equity of 8.99% and a negative net margin of 6.90%.

Washington Trust Bancorp Trading Down 1.9 %

Shares of WASH traded down $0.51 during trading hours on Monday, hitting $26.70. 9,401 shares of the stock traded hands, compared to its average volume of 141,748. The business has a fifty day moving average of $29.99 and a 200-day moving average of $32.59. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 2.63. The firm has a market capitalization of $514.67 million, a PE ratio of -17.25 and a beta of 0.76. Washington Trust Bancorp has a 1-year low of $24.70 and a 1-year high of $40.59.

Washington Trust Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st were given a $0.56 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $2.24 dividend on an annualized basis and a yield of 8.39%. Washington Trust Bancorp’s payout ratio is -144.52%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on WASH shares. StockNews.com raised Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Seaport Res Ptn raised shares of Washington Trust Bancorp from a “hold” rating to a “strong-buy” rating in a report on Friday, March 14th.

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.