Washington Trust Bancorp (WASH) Stock Price, News & Analysis

Company Overview

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. This segment also provides debit cards; automated teller machines (ATMs); telephone banking, internet banking, mobile banking, remote deposit capture, and other cash management services; and investment portfolio and wholesale funding services. The Wealth Management Services segment offers 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 for personal and institutional clients. Washington Trust Bancorp, Inc. was founded in 1800 and is headquartered in Westerly, Rhode Island.

Key Stats

• Today's Range: $36.62 to $36.81
• 50-Day Range: $30.40 to $39.92
• 52-Week Range: $24.11 to $40.59
• Volume: 8,207 shs
• Average Volume: 95,524 shs
• Market Capitalization: $628.35 million
• P/E Ratio: 13.79
• Dividend Yield: 6.09%
• Price Target: $34.00
• Consensus Rating: Hold

Washington Trust Bancorp Stock Analysis - MarketRank™

Washington Trust Bancorp scored higher than 51% of companies evaluated by MarketBeat, and ranked 618th out of 930 stocks in the finance sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 1.0 / 5
• Analyst Rating: Hold

Consensus Rating

Washington Trust Bancorp has received a consensus rating of Hold. The company's average rating score is 2.00, and is based on no buy ratings, 2 hold ratings, and no sell ratings.

Amount of Analyst Coverage

Washington Trust Bancorp has only been the subject of 1 research reports in the past 90 days.

Earnings and Valuation

• Score: 1.9 / 5
• Proj. Earnings Growth: 4.42%

Earnings Growth

Earnings for Washington Trust Bancorp are expected to grow by 4.42% in the coming year, from $2.49 to $2.60 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Washington Trust Bancorp is 13.63, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 124.79.

Price to Earnings Ratio vs. Sector

The P/E ratio of Washington Trust Bancorp is 13.63, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 45.86.

Price to Book Value per Share Ratio

Washington Trust Bancorp has a P/B Ratio of 1.24. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Short Interest

• Score: 4.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

3.39% of the float of Washington Trust Bancorp has been sold short.

Short Interest Ratio / Days to Cover

Washington Trust Bancorp has a short interest ratio ("days to cover") of 5.7.

Change versus previous month

Short interest in Washington Trust Bancorp has recently decreased by 6.89%, indicating that investor sentiment is improving significantly.

Dividend

• Score: 3.3 / 5
• Dividend Strength: Strong

Dividend Leadership

Washington Trust Bancorp is a leading dividend payer. It pays a dividend yield of 6.08%, putting its dividend yield in the top 25% of dividend-paying stocks.

Dividend Growth

Washington Trust Bancorp has been increasing its dividend for 13 years.

Dividend Coverage

The dividend payout ratio of Washington Trust Bancorp is 83.90%. Payout ratios above 75% are not desirable because they may not be sustainable.

Dividend Sustainability

Based on EPS estimates, Washington Trust Bancorp will have a dividend payout ratio of 86.15% in the coming year. This indicates that Washington Trust Bancorp may not be able to sustain their current dividend.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

3.39% of the float of Washington Trust Bancorp has been sold short.

Short Interest Ratio / Days to Cover

Washington Trust Bancorp has a short interest ratio ("days to cover") of 5.7.

Change versus previous month

Short interest in Washington Trust Bancorp has recently decreased by 6.89%, indicating that investor sentiment is improving significantly.

News and Social Media

• Score: 2.5 / 5
• News Sentiment: N/A

News Sentiment

Washington Trust Bancorp has a news sentiment score of 1.47. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.76 average news sentiment score of Finance companies.

Search Interest

Only 1 people have searched for WASH on MarketBeat in the last 30 days. This is a decrease of -83% compared to the previous 30 days.

MarketBeat Follows

Only 1 people have added Washington Trust Bancorp to their MarketBeat watchlist in the last 30 days. This is a decrease of 0% compared to the previous 30 days.

Company Ownership

• Score: 1.7 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, Washington Trust Bancorp insiders have not sold or bought any company stock.

Percentage Held by Insiders

Only 1.69% of the stock of Washington Trust Bancorp is held by insiders.

Percentage Held by Institutions

65.81% of the stock of Washington Trust Bancorp is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

WASH Stock Analysis - Frequently Asked Questions

How have WASH shares performed this year?

Washington Trust Bancorp's stock was trading at $32.38 on January 1st, 2024. Since then, WASH stock has increased by 12.4% and is now trading at $36.40.
View the best growth stocks for 2024 here.

How were Washington Trust Bancorp's earnings last quarter?

Washington Trust Bancorp, Inc. (NASDAQ:WASH) issued its quarterly earnings data on Monday, October, 21st. The financial services provider reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.08. The financial services provider earned $103.86 million during the quarter, compared to the consensus estimate of $47.32 million. Washington Trust Bancorp had a net margin of 11.24% and a trailing twelve-month return on equity of 9.55%.

Who are Washington Trust Bancorp's major shareholders?

Top institutional shareholders of Washington Trust Bancorp include FMR LLC (7.86%), WASHINGTON TRUST Co (3.51%), State Street Corp (3.01%) and Geode Capital Management LLC (2.42%). Insiders that own company stock include Kristen L Disanto, Mary E Noons, Dennis L Algiere, Kathleen A Ryan, Edwin J Santos, Constance A Howes and James M Hagerty.
View institutional ownership trends.

How do I buy shares of Washington Trust Bancorp?

Shares of WASH stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Washington Trust Bancorp own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Washington Trust Bancorp investors own include Tesla (TSLA), JPMorgan Chase & Co. (JPM), NVIDIA (NVDA), Advanced Micro Devices (AMD), Walt Disney (DIS), Home Depot (HD) and Meta Platforms (META).

Company Calendar

• Ex-Dividend for 10/11 Dividend: 10/01/2024
• Dividend Payable: 10/11/2024
• Last Earnings: 10/21/2024
• Today: 11/21/2024
• Fiscal Year End: 12/31/2024
• Next Earnings (Estimated): 1/22/2025

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Finance
• Industry: State commercial banks
• Sub-Industry: Regional Banks
• Current Symbol: NASDAQ:WASH
• CUSIP: 94061010
• CIK: 737468
• Web: www.washtrust.com
• Phone: (401) 348-1200
• Fax: 401-348-1262
• Employees: 665
• Year Founded: 1800

Price Target and Rating

• Average Stock Price Target: $34.00
• High Stock Price Target: $34.00
• Low Stock Price Target: $34.00
• Potential Upside/Downside: -6.6%
• Consensus Rating: Hold
• Rating Score (0-4): 2.00
• Research Coverage: 2 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $2.67
• Trailing P/E Ratio: 13.63
• Forward P/E Ratio: 14.62
• P/E Growth: N/A
• Net Income: $48.18 million
• Net Margins: 11.24%
• Pretax Margin: 13.20%
• Return on Equity: 9.55%
• Return on Assets: 0.63%

Debt

• Debt-to-Equity Ratio: 2.63
• Current Ratio: 1.10
• Quick Ratio: 1.10

Sales & Book Value

• Annual Sales: $364.80 million
• Price / Sales: 1.70
• Cash Flow: $3.12 per share
• Price / Cash Flow: 11.68
• Book Value: $29.43 per share
• Price / Book: 1.24

Miscellaneous

• Outstanding Shares: 17,070,000
• Free Float: 16,777,000
• Market Cap: $621.35 million
• Optionable: Optionable
• Beta: 0.77