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Washington Trust Bancorp Inc  (WASH)
Other Ticker:  
 
    Sector  Financial    Industry Regional Banks
   Industry Regional Banks
   Sector  Financial
 
Price: $25.1500 $0.19 0.761%
Day's High: $25.53 Week Perf: -3.64 %
Day's Low: $ 24.95 30 Day Perf: -4.34 %
Volume (M): 302 52 Wk High: $ 37.06
Volume (M$): $ 7,603 52 Wk Avg: $28.18
Open: $24.95 52 Wk Low: $21.69



 Market Capitalization (Millions $) 430
 Shares Outstanding (Millions) 17
 Employees 582
 Revenues (TTM) (Millions $) 190
 Net Income (TTM) (Millions $) 48
 Cash Flow (TTM) (Millions $) -28
 Capital Exp. (TTM) (Millions $) 5

Washington Trust Bancorp Inc

Washington Trust Bancorp, Inc., a publicly-owned registered bank holding company and financial holding company, was organized in 1984 under the laws of the state of Rhode Island. The Bancorp owns all of the outstanding common stock of The Washington Trust Company, of Westerly (the “Bank”), a Rhode Island chartered commercial bank founded in 1800. The Bancorp was formed in 1984 under a plan of reorganization in which outstanding common shares of the Bank were exchanged for common shares of the Bancorp.

Through its subsidiaries, the Bancorp offers a comprehensive product line of banking and financial services to individuals and businesses, including commercial, residential and consumer lending, retail and commercial deposit products, and wealth management services through its offices in Rhode Island, eastern Massachusetts and Connecticut; its automated teller machine (“ATM”) networks; and its Internet website at www.washtrust.com. The Bancorp’s common stock is traded on the NASDAQ OMX® Market under the symbol “WASH.”

Washington Trust manages its operations through two business segments: Commercial Banking and Wealth Management Services. Activity not related to the segments, including activity related to the investment securities portfolio, wholesale matters and administrative units are considered Corporate.

Washington Trust offers a variety of commercial and retail lending products. Interest rates charged on loans may be fixed or variable and vary with the degree of risk, loan term, underwriting and servicing costs, loan amount, and the extent of other banking relationships maintained with customers. Rates are further subject to competitive pressures, the current interest rate environment, availability of funds, and government regulations.

Residential real estate loans are primarily originated by commissioned mortgage originator employees. Residential real estate loans are originated both for sale in the secondary market as well as for retention in the Bank’s loan portfolio.

The Board of Directors of the Bank monitors credit risk management through two committees, the Finance Committee and the Audit Committee. The Finance Committee has primary oversight responsibility for the credit granting function, including approval authority for credit granting policies, review of management’s credit granting activities and approval of large exposure credit requests. The Audit Committee oversees various systems and procedures performed by management to monitor the credit quality of the loan portfolio, conduct a loan review program, maintain the integrity of the loan rating system and determine the adequacy of the allowance for loan losses. The Audit Committee also approves the policy and methodology for establishing the allowance for loan losses. These committees report the results of their respective oversight functions to the Bank’s Board of Directors. In addition, the Bank’s Board of Directors receives information concerning asset quality measurements and trends on a regular basis.

Investment activity is monitored by an Investment Committee, the members of which also sit on the Corporation’s Asset/Liability Committee (“ALCO”). Asset and liability management objectives are the primary influence on the Corporation’s investment activities. However, the Corporation also recognizes that there are certain specific risks inherent in investment portfolio activity. The securities portfolio is managed in accordance with regulatory guidelines and established internal corporate investment policies that provide limitations on specific risk factors such as market risk, credit risk and concentration, liquidity risk and operational risk to help monitor risks associated with investing in securities.

The Bank has two registered investment adviser subsidiaries, Weston Financial Group, Inc. (“Weston Financial”) and Halsey Associates, Inc. (“Halsey”). Weston Financial and its broker-dealer and insurance agency subsidiaries were acquired by the Bancorp in August 2005. Weston Financial is located in Wellesley, Massachusetts. Halsey was acquired by the Bancorp in August 2015 and is located in New Haven, Connecticut. The acquisitions of Weston Financial and Halsey expanded the geographic reach of Washington Trust’s wealth management business.



   Company Address: 23 Broad Street, Westerly, 2891 RI
   Company Phone Number: 348-1200   Stock Exchange / Ticker: NASDAQ WASH
   


Customers Net Income grew by WASH's Customers Net Profit Margin grew to

7.18 %

5.54 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
BK   -0.33%    
CFG   -2.19%    
FCNCA        2.47% 
FITB   -2.51%    
TCBI   -1.91%    
WAL   -1.75%    
• View Complete Report
   



Washington Trust Bancorp Inc

Financial Institution Washington Trust Bancorp Inc Faces Steep 17.615% Revenue Decrease in Challenging Business Environment

Washington Trust Bancorp Inc is a financial institution that experienced a decline in revenue and income in the fiscal year ending December 31, 2023. The company saw a decrease of 21.16% in income per share, which dropped to $0.76 from the previous year. Additionally, revenue decreased by 17.615% year on year, falling to $44.76 million compared to $54.33 million in the same period the previous year.
In comparison to the previous quarter, there was a 16.97% increase in income per share, rising from $0.65 per share. However, revenue deteriorated by 7.668% from $48.48 million. The net earnings for the fourth quarter of 2023 were $12.947 million, representing a decline of 21.88% from the previous year's $16.573 million.

Washington Trust Bancorp Inc

Washington Trust Bancorp Inc. Suffers EPS Decline Amidst Sluggish Sales in Q3, FY 2023

Washington Trust Bancorp Inc is a financial institution that recently reported a decline in its financial performance for the fiscal period ending September 30, 2023. The company experienced a decrease in both its top and bottom-line, with net profit per share dropping by 39.81% and revenue decreasing by 15.02% year on year.
During this period, the company's revenue amounted to $48.48 million, compared to $57.05 million in the previous year. Additionally, earnings per share (eps) fell from $1.08 in the third quarter of 2022 to $0.65 in the same period of 2023. This decline in revenue is noteworthy when compared to other companies in the Regional Banks sector, which reported an increase in their top-line during the same period.
Looking at previous periods, net profit per share decreased by 1.52% from $0.66 per share, while revenue increased by 2.869% from $47.13 million. The bottom-line for the July to September 30, 2023 fiscal period also saw a significant decline of 40.21% from $18.668 million in the corresponding period a year before.

Washington Trust Bancorp Inc

Wash Trust's Dramatic Dip: Earnings Per Share Plunge Amid Recent Financial Quarters Signals Shaky Terrain

Washington Trust Bancorp Inc shares have seen a solid gain of 5.77% over the past 5 trading days and an impressive 54.88% increase over the past 12 months. However, despite this positive performance, the shares are currently trading on the NASDAQ at a significant 21.3% below their 52-week average.
The most recent fiscal period for Washington Trust Bancorp Inc has revealed some concerning figures. The company disclosed a soft top and bottom-line, with income per share plummeting by -42.11% and revenue decreasing by -16.396% year on year. In this fiscal period, the revenue dropped to $47.13 million, compared to the previous year's $56.37 million, while the earnings per share (EPS) were at $0.66, down from $1.14 in the comparable time-frame last year.

Washington Trust Bancorp Inc

Washington Trust Bancorp Inc Faces Financial Setback: Income and Revenue Plummet in Q1 2023

Washington Trust Bancorp Inc Reports Soft Financial Results
Washington Trust Bancorp Inc recently released their financial results for the period ending March 31, 2023, reporting a drop in income and revenue. The bank's income experienced a decline of 21.28% to $0.74 per share while their revenue took a hit, decreasing by 4.744% to $49.68 million compared to the same period last year.
When delving further into their financial reports, it is evident that revenue has decreased by 8.566%, from $54.33 million during the last reporting period, and income has declined by 23.27%, from $0.96 per share in the previous period. The bottom-line number for the financial period ending March 31, 2023, was $12.812 million, representing a 22.27% decline from the same period last year when it was $16.483 million.






 

Washington Trust Bancorp Inc's Segments
 
 
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  Company Estimates  
  Revenue Outlook
Washington Trust Bancorp Inc does not provide revenue guidance.

Earnings Outlook
Washington Trust Bancorp Inc does not provide earnings estimates.

 
Geographic Revenue Dispersion




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