Brief: Washington Trust Bancorp Q2 Net Interest Income USD 37.185 Million

Washington Trust Bancorp

21/07/2025 21:05

Overview

Washington Trust Q2 net income rises 8.2% sequentially to $13.2 mln

Co reports growth in net interest income, wealth management, and mortgage banking

Adjusted EPS misses analysts' expectations

Outlook

Company expects full-year 2025 effective tax rate to be approximately 22.4%

Result Drivers

NET INTEREST INCOME - Increased by 2% from Q1 2025, driven by a higher net interest margin

MORTGAGE BANKING - Revenues rose by 32% due to higher loan sales to the secondary market

WEALTH MANAGEMENT - Revenues increased by 2%, reflecting seasonal growth in transaction-based revenues

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Adjusted EPS
Miss
$0.61
$0.63 (4 Analysts)
Q2 Net Income
$13.24 mln
Q2 Net Interest Income
$37.18 mln
Q2 Credit Loss Provision
$600,000
Q2 Pretax Profit
$17.13 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the banks peer group is "buy."

Wall Street's median 12-month price target for Washington Trust Bancorp Inc is $30.00, about 3.1% above its July 18 closing price of $29.08

The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 11 three months ago

Press Release: ID:nPn5g8TWLa

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)