Washington Trust Bancorp

Washington Trust Bancorp, Inc. operates as a bank holding company. The firm engages in the provision of financial services, including business banking, personal banking and wealth management and trust services. It operates through the following segments: Commercial Banking and Wealth Management Services. The Commercial Banking segment includes commercial, residential and consumer lending activities, mortgage banking activities, deposit generation, cash management activities and direct banking activities, which include the operation of ATMs, telephone and internet banking services and customer support and sales. The Wealth Management Services segment includes investment management, financial planning, personal trust and estate services, including services as trustee, personal representative, custodian and guardian and institutional trust services are also provided, including fiduciary services. The company was founded in 1984 and is headquartered in Westerly, RI.

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Washington Trust Bancorp reports solid Q4 earnings amidst leadership changes

Washington Trust Bancorp's Q4 2022 earnings call highlighted solid financial performance with net income of $16.6 million and strong loan growth.
The company faced challenges in non-interest income drivers and expenses, but maintained a focus on talent investment and technology enhancements.
Opportunities lie in improving revenue streams, enhancing customer experience, and leveraging the DE&I initiatives for long-term growth and stability.
Overall, the company showcased resilience in managing financial metrics and leadership transitions, setting a positive tone for future growth and innovation.

Washington Trust Bancorp reports Q1 earnings dip but eyes growth

Washington Trust Bancorp's Q1 performance reflects a mixed financial picture with lower net income but steady loan growth.
The company's focus on customer experience through new branches and technology investments bodes well for future growth.
While facing challenges in asset yields and funding costs, Washington Trust Bancorp remains optimistic about its ability to navigate economic headwinds.

Washington Trust Bancorp achieves record assets and solid financials

Washington Trust Bancorp delivered solid financial performance in Q2 2023, driven by loan growth, deposit expansion, and strong wealth management.
While facing challenges in net interest income and sustaining loan growth, the company's focus on digital innovation and community service remains a strength.
Opportunities lie in further branch expansion, leveraging mortgage revenue growth, and enhancing digital offerings to drive future success.
Overall, Washington Trust Bancorp's strong asset quality and capital position position it well for continued growth and resilience in the market.

Washington Trust Bancorp reports solid Q3 earnings amidst economic challenges

Washington Trust Bancorp's Q3 performance reflects a balanced approach to revenue generation and cost management.
Strong credit quality and controlled expenses position the company well amidst economic challenges and market uncertainties.
Opportunities for growth exist through deposit expansion, branch openings, and strategic initiatives in mortgage banking.
Addressing challenges in loan growth and wealth management will be key to sustaining profitability and driving future success.

Washington Trust Bancorp reports Q4 earnings, eyes growth opportunities

Washington Trust Bancorp's Q4 2023 performance reflects a mixed financial outcome with a decline in noninterest income but growth in total loans. The company's strategic focus on technology, capital credit, and deposits positions it well for potential improvements in external conditions in 2024.

Washington Trust Bancorp reports solid Q1 performance and eyes growth

Washington Trust Bancorp's Q1 2024 performance showcased strength in financials and asset quality, with a focus on balance sheet resilience and deposit growth. Challenges include expense increases and net charge-offs, while opportunities lie in deposit-related enhancements and positive trends in office properties. The company is well-positioned to capitalize on growth opportunities.

Washington Trust Bancorp posts solid Q2 results amidst growth opportunities

Washington Trust Bancorp delivered a solid performance in Q2 2024, reporting a net income of $10.8 million and showcasing stability in its revenue streams. The company's focus on wealth management and mortgage banking segments contributed to revenue growth.
Despite challenges in loan growth and potential economic uncertainties, the bank managed its expenses efficiently and maintained strong asset quality metrics. Washington Trust Bancorp's ability to navigate market conditions and capitalize on opportunities positions it well for future growth.
Moving forward, Washington Trust Bancorp has opportunities to drive loan growth, enhance interest income, and further strengthen its market position. By leveraging its strengths and addressing challenges effectively, the company can sustain its financial performance and drive value for stakeholders.

Washington Trust Bancorp reports stable Q3 performance and eyes margin expansion in 2025

Washington Trust Bancorp's Q3 performance reflects stability, strong fee businesses, and growth potential in mortgage and commercial pipelines.
While challenges such as deposit costs and delinquent loans exist, the company's focus on margin expansion and risk management presents opportunities for future success.
Overall, the earnings call highlights a resilient financial performance, strategic opportunities for growth, and ongoing challenges that require attention and management.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

WESTERLY, R.I. , Dec. 20, 2024 /PRNewswire/ -- Washington Trust Bancorp, Inc. (Nasdaq: WASH) (the "Corporation"), parent company of The Washington Trust Company, of Westerly (the "Bank"), today announced Bank balance sheet repositioning transactions to support continued organic growth and capital generation.

Washington Trust Announces Balance Sheet Repositioning

WESTERLY, R.I. , Dec. 19, 2024 /PRNewswire/ -- The Board of Directors of Washington Trust Bancorp, Inc., (NASDAQ: WASH), today declared a quarterly dividend of 56 cents per share for the quarter ending December 31, 2024.

Washington Trust Bancorp, Inc. Announces Quarterly Dividend

PROVIDENCE, R.I., Dec. 17, 2024 /PRNewswire/ -- Washington Trust recently provided $800,000 in financing to the Rhode Island Hispanic Chamber of Commerce for the purchase of property located at 359 Broad Street in Providence, R.I.

Washington Trust provides financing for Rhode Island Hispanic Chamber of Commerce's new headquarters

Brookline Bancorp

TPG RE Finance Trust

TRTX, WASH and BRKL made it to the Zacks Rank #1 (Strong Buy) income stocks list on December 17, 2024.

Best Income Stocks to Buy for December 17th

WESTERLY, R.I. , Dec. 16, 2024 /PRNewswire/ -- Washington Trust Bancorp, Inc. (Nasdaq: WASH) (the "Corporation"), parent company of The Washington Trust Company, of Westerly (the "Bank"), today announced the closing of its previously announced underwritten public offering of 1,911,764 shares of its common stock at a public offering price of $34.00 per share.

Washington Trust Announces Closing of Upsized Stock Offering

WESTERLY, R.I. , Dec. 12, 2024 /PRNewswire/ -- Washington Trust Bancorp, Inc. (Nasdaq: WASH) (the "Corporation"), parent company of The Washington Trust Company, of Westerly (the "Bank"), today announced the pricing of its previously announced underwritten public offering of 1,911,764 shares of its common stock at a public offering price of $34.00 per share.

Washington Trust Announces Pricing of Upsized Stock Offering

WESTERLY, R.I. , Dec. 12, 2024 /PRNewswire/ -- Washington Trust Bancorp, Inc. (Nasdaq: WASH) (the "Corporation"), parent company of The Washington Trust Company, of Westerly (the "Bank"), today announced it has commenced an underwritten public offering of $55,000,000 of the Corporation's common stock.

Washington Trust Announces Stock Offering

Washington Trust (WASH) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

What Makes Washington Trust (WASH) a New Strong Buy Stock

Marex Group PLC

ZIM Integrated Shipping Services

WASH, MRX and ZIM made it to the Zacks Rank #1 (Strong Buy) income stocks list on November 26, 2024.

Best Income Stocks to Buy for November 26th

Does Washington Trust Bancorp (WASH) have what it takes to be a top stock pick for momentum investors? Let's find out.

Washington Trust Bancorp (WASH) Is Up 3.38% in One Week: What You Should Know

Washington Trust Bancorp's Q3 2024 results beat EPS and revenue estimates, leading to an 8.06% stock price increase due to improved balance sheet management and deposit growth. Despite recent stock price gains, WASH's Price/TBV ratio remains low, suggesting further upside potential, warranting an upgrade from hold to buy. The loan-to-deposit ratio improved from 113% to 106%, and total loans decreased, indicating better financial health. Potential for future underwriting increases.

Washington Trust: The New Macroeconomic Environment Could Be Favorable (Rating Upgrade)

Washington Trust Bancorp, Inc. (NASDAQ:WASH ) Q3 2024 Earnings Conference Call October 22, 2024 8:30 AM ET Company Participants Ned Handy - Chairman, Chief Executive Officer Mary Noons - President, Chief Operating Officer Ron Ohsberg - Senior Executive Vice President, Chief Financial Officer, Treasurer Bill Wray - Senior Executive Vice President, Chief Risk Officer Sharon Walsh - Vice President, Director of Marketing Strategy and Planning Conference Call Participants Mark Fitzgibbon - Piper Sandler Damon DelMonte - Keefe Bruyette & Woods Inc. Laurie Hunsicker - Seaport Research Partners Operator Good morning, and welcome to Washington Trust Bancorp Inc.'s conference call. My name is Lydia and I'll be your operator today.

Washington Trust Bancorp, Inc. (WASH) Q3 2024 Earnings Call Transcript

The headline numbers for Washington Trust (WASH) give insight into how the company performed in the quarter ended September 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Compared to Estimates, Washington Trust (WASH) Q3 Earnings: A Look at Key Metrics

Washington Trust Bancorp (WASH) came out with quarterly earnings of $0.64 per share, beating the Zacks Consensus Estimate of $0.56 per share. This compares to earnings of $0.65 per share a year ago.

Washington Trust Bancorp (WASH) Tops Q3 Earnings and Revenue Estimates

WESTERLY, R.I. , Oct. 21, 2024 /PRNewswire/ -- Washington Trust Bancorp, Inc. (Nasdaq: WASH), parent company of The Washington Trust Company, today announced third quarter 2024 net income of $11.0 million, or $0.64 per diluted share, compared to net income of $10.8 million, or $0.63 per diluted share, for the second quarter of 2024.

Washington Trust Reports Third Quarter 2024 Earnings

Evaluate the expected performance of Washington Trust (WASH) for the quarter ended September 2024, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight.

Exploring Analyst Estimates for Washington Trust (WASH) Q3 Earnings, Beyond Revenue and EPS

WESTERLY, R.I., Oct. 8, 2024 /PRNewswire/ -- Washington Trust Bancorp, Inc. (NASDAQ: WASH), the publicly-owned holding company of The Washington Trust Company, will release third quarter 2024 earnings and host a conference call with the Corporation's executives as follows: Earnings Release:  Monday, October 21, 2024, After Market Closes Conference Call:  Tuesday, October 22, 2024, 8:30 a.m.

Washington Trust Announces Date of Third Quarter 2024 Earnings Release, Conference Call and Webcast

Arbor Realty Trust

Cheniere Energy Partners

Goldman Sachs BDC

Northwest Bancshares

Whirlpool

The haters are out in full force. Wall Street “pros” are downright disgusted with high-yield stocks. Here at Contrarian Outlook, this pessimism warms our heart. With no analysts left to slap a Sell rating on these names, the future is filled with upgrades.

Contrarian Alert: 6 Hated Dividend Stocks Yielding Up To 13%

Dividend companies are valuable during market downturns, but sustainability is crucial; Washington Trust Bancorp has a 7.78% dividend yield. WASH's dividend growth has been slow due to declining net interest income, potential bear market could impact sustainability, and increased capital ratios may affect dividends. WASH's revenue sources are cyclical, with wealth management and mortgage banking contributing significantly; sustainability of the dividend depends on economic resilience and growth potential.

Washington Trust Bancorp: Is Its Dividend Sustainable In Case Of A Recession?

Washington Trust Bancorp, Inc. (WASH) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, WASH's 50-day simple moving average broke out above its 200-day moving average; this is known as a "golden cross.

Washington Trust Bancorp (WASH)'s Technical Outlook is Bright After Key Golden Cross

Washington Trust Bancorp, Inc. (NASDAQ:WASH ) Q2 2024 Earnings Conference Call July 23, 2024 8:30 AM ET Company Participants Elizabeth Eckel - EVP, Chief Marketing & Corporate Communications Officer Ned Handy - Chairman & CEO Ron Ohsberg - Senior EVP, CFO & Treasurer Mary Noons - President & COO Bill Wray - Senior EVP & CRO Conference Call Participants Mark Fitzgibbon - Piper Sandler Damon DelMonte - KBW Laurie Hunsicker - Seaport Research Operator Good morning, and welcome to Washington Trust Bancorp, Inc.'s Conference Call. My name is Lydia and I will be your operator today.

Washington Trust Bancorp, Inc. (WASH) Q2 2024 Earnings Call Transcript

Although the revenue and EPS for Washington Trust (WASH) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Compared to Estimates, Washington Trust (WASH) Q2 Earnings: A Look at Key Metrics

Washington Trust Bancorp (WASH) came out with quarterly earnings of $0.63 per share, beating the Zacks Consensus Estimate of $0.49 per share. This compares to earnings of $0.66 per share a year ago.

Washington Trust Bancorp (WASH) Surpasses Q2 Earnings and Revenue Estimates

WESTERLY, R.I. , July 22, 2024 /PRNewswire/ -- Washington Trust Bancorp, Inc. (Nasdaq: WASH), parent company of The Washington Trust Company, today announced second quarter 2024 net income of $10.8 million, or $0.63 per diluted share, compared to net income of $10.9 million, or $0.64 per diluted share, for the first quarter of 2024.

Washington Trust Reports Second Quarter 2024 Earnings

Evaluate the expected performance of Washington Trust (WASH) for the quarter ended June 2024, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight.

News for Washington Trust Bancorp Stock (WASH)