Washington Trust Bancorp, Inc. to Post Q2 2024 Earnings of $0.50 Per Share, Seaport Res Ptn Forecasts (NASDAQ:WASH)

Washington Trust Bancorp, Inc. (NASDAQ:WASH) – Equities research analysts at Seaport Res Ptn raised their Q2 2024 earnings per share (EPS) estimates for Washington Trust Bancorp in a research report issued to clients and investors on Thursday, April 25th. Seaport Res Ptn analyst L. Hunsicker now forecasts that the financial services provider will earn $0.50 per share for the quarter, up from their prior estimate of $0.41. Seaport Res Ptn currently has a “Neutral” rating on the stock. The consensus estimate for Washington Trust Bancorp’s current full-year earnings is $2.09 per share. Seaport Res Ptn also issued estimates for Washington Trust Bancorp’s Q3 2024 earnings at $0.47 EPS and FY2024 earnings at $2.07 EPS.

Separately, StockNews.com upgraded shares of Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, April 25th.

Washington Trust Bancorp Trading Down 0.9 %

NASDAQ:WASH opened at $25.46 on Monday. The firm has a market capitalization of $433.58 million, a P/E ratio of 9.48 and a beta of 0.81. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 2.57. The company has a fifty day moving average of $25.73 and a 200 day moving average of $27.21. Washington Trust Bancorp has a 52 week low of $21.69 and a 52 week high of $33.96.

Washington Trust Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Monday, April 1st were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 8.80%. The ex-dividend date was Thursday, March 28th. Washington Trust Bancorp’s dividend payout ratio (DPR) is currently 82.66%.

Hedge Funds Weigh In On Washington Trust Bancorp

Several hedge funds have recently made changes to their positions in the business. Barrett & Company Inc. boosted its holdings in Washington Trust Bancorp by 37.7% in the third quarter. Barrett & Company Inc. now owns 4,010 shares of the financial services provider’s stock valued at $106,000 after acquiring an additional 1,097 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Washington Trust Bancorp in the 4th quarter worth about $179,000. Quest Partners LLC bought a new stake in shares of Washington Trust Bancorp during the 4th quarter valued at about $186,000. Retirement Planning Co of New England Inc. purchased a new position in shares of Washington Trust Bancorp during the third quarter valued at about $240,000. Finally, EP Wealth Advisors LLC bought a new position in Washington Trust Bancorp in the fourth quarter worth about $259,000. 65.81% of the stock is owned by hedge funds and other institutional investors.

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.