Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) announced its quarterly earnings results on Wednesday. The financial services provider reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02, Zacks reports. Washington Trust Bancorp had a negative net margin of 6.90% and a positive return on equity of 8.99%.
Washington Trust Bancorp Stock Performance
Shares of NASDAQ WASH traded up $0.54 during midday trading on Friday, reaching $32.77. 259,448 shares of the company were exchanged, compared to its average volume of 173,545. The stock has a market cap of $631.05 million, a P/E ratio of -21.14 and a beta of 0.81. Washington Trust Bancorp has a 1 year low of $24.11 and a 1 year high of $40.59. The stock has a fifty day simple moving average of $33.25 and a 200 day simple moving average of $32.91. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 2.63.
Washington Trust Bancorp Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd were issued a $0.56 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 6.84%. Washington Trust Bancorp's payout ratio is -144.52%.
Analyst Ratings Changes
A number of analysts have recently commented on the company. Piper Sandler upgraded Washington Trust Bancorp from an "underweight" rating to a "neutral" rating and lifted their target price for the stock from $30.00 to $34.00 in a research report on Tuesday, October 22nd. StockNews.com upgraded Washington Trust Bancorp from a "sell" rating to a "hold" rating in a research note on Friday.
Get Our Latest Research Report on Washington Trust Bancorp
Washington Trust Bancorp Company Profile
(
Get Free Report)
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.
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