Washington Trust Bancorp (NASDAQ:WASH) Releases Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Washington Trust Bancorp (NASDAQ:WASH) issued its quarterly earnings results on Monday. The financial services provider reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.08, Yahoo Finance reports. Washington Trust Bancorp had a net margin of 11.51% and a return on equity of 9.95%. The business had revenue of $103.86 million during the quarter, compared to analyst estimates of $47.32 million. During the same quarter last year, the business posted $0.65 earnings per share.

Washington Trust Bancorp Trading Up 0.9 %

Shares of WASH opened at $32.18 on Tuesday. The stock’s fifty day simple moving average is $31.66 and its 200-day simple moving average is $28.72. The firm has a market capitalization of $548.99 million, a PE ratio of 11.90 and a beta of 0.79. Washington Trust Bancorp has a 12-month low of $21.69 and a 12-month high of $34.27. The company has a quick ratio of 1.14, a current ratio of 1.15 and a debt-to-equity ratio of 3.34.

Washington Trust Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were given a dividend of $0.56 per share. The ex-dividend date was Tuesday, October 1st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 6.96%. Washington Trust Bancorp’s payout ratio is currently 83.58%.

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.