Washington Trust Bancorp Q3 net income falls 18%

Washington Trust Bancorp

20/10/2025 21:14

Overview

Washington Trust Q3 net income falls to $10.8 mln, EPS at $0.56

Net interest income for Q3 rises 4% from previous quarter

Company increases provision for credit losses to $7 mln in Q3

Outlook

Company expects full-year 2025 effective tax rate to be approximately 22.5%

Result Drivers

NET INTEREST INCOME - Co expanded net interest income and margin, driven by increased average interest-earning assets and decreased cost of interest-bearing liabilities

WEALTH MANAGEMENT & MORTGAGE BANKING - Co saw growth in wealth management and mortgage banking revenues, attributed to asset appreciation and increased loan sales

STRATEGIC INVESTMENTS - Co made strategic investments, including hiring a new executive and acquiring client accounts, adding managed assets

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 EPS
$0.56
Q3 Net Income
$10.84 mln
Q3 Net Interest Income
$38.83 mln
Q3 Credit Loss Provision
$6.80 mln
Q3 Pretax Profit
$13.94 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 2 "hold" and 1 "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 $29.00, about 10.9% above its October 17 closing price of $25.85

The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 10 three months ago

Press Release: ID:nPn1tr3V3a

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(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.)