Washington Trust Bancorp Inc reports results for the quarter ended in June - Earnings Summary

Washington Trust Bancorp

22/07/2024 22:21

* Washington Trust Bancorp Inc  WASH.OQ  reported quarterly
adjusted earnings of 63 cents​​ per share for the quarter ended
in June, lower than the same quarter last year, when the company
reported EPS of 66 cents.  The mean expectation of
three analysts for the quarter was for earnings of 49 cents per
share. Wall Street expected results to range from 48 cents to 50
cents per share.
    * Revenue fell 5.7% to $31.59 million from a year ago;
analysts
expected $30.93 million. 
    * Washington Trust Bancorp Inc's reported EPS for the
quarter was
63 cents​.
    * The company reported quarterly net income of $10.81
million.
    * Washington Trust Bancorp Inc shares had risen by 13.0%
this
quarter and lost 4.4% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 3.3%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is no "strong buy" or "buy," 2
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "hold"

Wall Street's median 12-month price target for Washington Trust
Bancorp Inc is $27.00 
This summary was machine generated from LSEG data July 22 at
09:21 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.49           0.63           Beat
 Mar. 31 2024      0.45           0.64           Beat
 Dec. 31 2023      0.57           0.76           Beat
 Sep. 30 2023      0.58           0.65           Beat