Washington Trust Bancorp (NASDAQ:WASH) Announces Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) announced its quarterly earnings results on Monday. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. The firm had revenue of $59.07 million during the quarter, compared to the consensus estimate of $53.16 million.

Washington Trust Bancorp Trading Up 1.6 %

NASDAQ WASH traded up $0.45 on Thursday, hitting $28.04. 126,418 shares of the stock were exchanged, compared to its average volume of 144,072. The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market capitalization of $540.50 million, a P/E ratio of -18.09 and a beta of 0.76. Washington Trust Bancorp has a 52-week low of $24.70 and a 52-week high of $40.59. The stock has a fifty day moving average price of $29.56 and a two-hundred day moving average price of $32.46.

Washington Trust Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st were issued a dividend of $0.56 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.24 annualized dividend and a dividend yield of 7.99%. Washington Trust Bancorp's dividend payout ratio (DPR) is -143.59%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on WASH shares. Keefe, Bruyette & Woods cut their price objective on Washington Trust Bancorp from $34.00 to $31.00 and set a "market perform" rating for the company in a report on Tuesday. Seaport Res Ptn upgraded Washington Trust Bancorp from a "hold" rating to a "strong-buy" rating in a report on Friday, March 14th. Finally, StockNews.com upgraded Washington Trust Bancorp from a "sell" rating to a "hold" rating in a report on Friday, January 31st.

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.