Will stock surge before Earnings results? Washington Trust Bancorp (NASDAQ:WASH)

Earnings results for Washington Trust Bancorp (NASDAQ:WASH)

Washington Trust Bancorp, Inc. is expected* to report earnings on 07/21/2021 after market close. The report will be for the fiscal Quarter ending Jun 2021. According to Zacks Investment Research, based on 2 analysts’ forecasts, the consensus EPS forecast for the quarter is $1.13. The reported EPS for the same quarter last year was $1.21.

Washington Trust Bancorp last posted its earnings results on April 20th, 2021. The financial services provider reported $1.32 EPS for the quarter, topping the consensus estimate of $1.04 by $0.28. The business earned $58.85 million during the quarter, compared to the consensus estimate of $58.60 million. Washington Trust Bancorp has generated $4.00 earnings per share over the last year and currently has a price-to-earnings ratio of 11.2. Washington Trust Bancorp has confirmed that its next quarterly earnings report will be published on Wednesday, July 21st, 2021. Washington Trust Bancorp will be holding an earnings conference call on Thursday, July 22nd at 8:30 AM Eastern. Interested parties can register for or listen to the call using this link or dial in at 412-317-0088 with passcode “10158379”.

Analyst Opinion on Washington Trust Bancorp (NASDAQ:WASH)

1 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 $58.00, predicting that the stock has a possible upside of 15.08%. The high price target for WASH is $58.00 and the low price target for WASH is $58.00. There are currently 1 buy rating for the stock, resulting in a consensus rating of “Buy.”

Washington Trust Bancorp has received a consensus rating of Buy. The company’s average rating score is 3.00, and is based on 1 buy rating, no hold ratings, and no sell ratings. According to analysts’ consensus price target of $58.00, Washington Trust Bancorp has a forecasted upside of 15.1% from its current price of $50.40. 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 4.17%, putting its dividend yield in the top 25% of dividend-paying stocks. Washington Trust Bancorp has only been increasing its dividend for 1 years. The dividend payout ratio of Washington Trust Bancorp is 52.00%. 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 55.32% 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 sold more of their company’s stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $395,746.00 in company stock. Only 2.18% of the stock of Washington Trust Bancorp is held by insiders. 71.92% 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 -14.16% in the coming year, from $4.38 to $3.76 per share. The P/E ratio of Washington Trust Bancorp is 11.18, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 18.22. The P/E ratio of Washington Trust Bancorp is 11.18, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 13.59. Washington Trust Bancorp has a P/B Ratio of 1.63. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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