Earnings and Growth Analysis : Washington Trust Bancorp (NASDAQ:WASH)

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Earnings results for Washington Trust Bancorp (NASDAQ:WASH)

Washington Trust Bancorp, Inc. is expected* to report earnings on 10/19/2020 after market close. The report will be for the fiscal Quarter ending Sep 2020. According to Zacks Investment Research, based on 2 analysts’ forecasts, the consensus EPS forecast for the quarter is $1.04. The reported EPS for the same quarter last year was $1.08.

Washington Trust Bancorp last released its earnings results on July 21st, 2020. The financial services provider reported $1.21 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.57. The company earned $57.27 million during the quarter, compared to the consensus estimate of $49.03 million. Washington Trust Bancorp has generated $3.96 earnings per share over the last year and currently has a price-to-earnings ratio of 8.6. Washington Trust Bancorp has confirmed that its next quarterly earnings report will be published on Monday, October 19th, 2020.

Analyst Opinion on Washington Trust Bancorp (NASDAQ:WASH)

3 Wall Street analysts have issued ratings and price targets for Washington Trust Bancorp in the last 12 months. Their average twelve-month price target is $38.00, predicting that the stock has a possible upside of 14.32%. The high price target for WASH is $40.00 and the low price target for WASH is $36.00. There are currently 2 hold ratings and 1 buy rating for the stock, resulting in a consensus rating of “Hold.”

Washington Trust Bancorp has received a consensus rating of Hold. The company’s average rating score is 2.33, and is based on 1 buy rating, 2 hold ratings, and no sell ratings. According to analysts’ consensus price target of $38.00, Washington Trust Bancorp has a forecasted upside of 14.3% from its current price of $33.24. Washington Trust Bancorp has only been the subject of 1 research reports in the past 90 days.

Dividend Strength: Washington Trust Bancorp (NASDAQ:WASH)

Washington Trust Bancorp is a leading dividend payer. It pays a dividend yield of 6.14%, putting its dividend yield in the top 25% of dividend-paying stocks. Washington Trust Bancorp has been increasing its dividend for 9 years. The dividend payout ratio of Washington Trust Bancorp is 51.52%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, Washington Trust Bancorp will have a dividend payout ratio of 64.56% next year. This indicates that Washington Trust Bancorp will be able to sustain or increase its dividend.

Insiders buying/selling: Washington Trust Bancorp (NASDAQ:WASH)

In the past three months, Washington Trust Bancorp insiders have not sold or bought any company stock. Only 2.28% of the stock of Washington Trust Bancorp is held by insiders. 71.46% 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.

Earnings and Valuation of Washington Trust Bancorp (NASDAQ:WASH

Earnings for Washington Trust Bancorp are expected to decrease by -19.18% in the coming year, from $3.91 to $3.16 per share. The P/E ratio of Washington Trust Bancorp is 8.61, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 19.76. The P/E ratio of Washington Trust Bancorp is 8.61, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 18.41. Washington Trust Bancorp has a P/B Ratio of 1.15. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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