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Washington Trust Bancorp (WASH)
NASDAQ:WASH
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Earnings Data
Report Date
Jan 29, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-0.78Last Year’s EPS
0.76Same Quarter Last Year
Moderate Sell
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 22, 2018
|% Change Since: 4.82%
|Next Earnings Date:Jul 23, 2018
Earnings Call Sentiment|Neutral
The earnings call presented a mixed picture with both positive developments in wealth management and noninterest income, and challenges with loan growth and certain credit issues. Stabilization in the net interest margin and efforts to improve capital ratios are encouraging, but loan declines and increased expenses are concerns.Company Guidance
During Washington Trust Bancorp's Q3 2024 earnings call, the company highlighted several financial metrics and strategic initiatives. Net income for the quarter was reported at $11 million, equating to $0.64 per share, while net interest income increased by 2% to $32.3 million, with the margin stabilizing at 1.85%. Noninterest income made up 34% of the revenue, amounting to $16.3 million, and wealth management revenues rose by 3% to $10 million, with assets under administration reaching $7.1 billion. Despite a 2% decrease in total loans, in-market deposits grew by $155 million, a 3% increase. The bank's allowance for loan losses stood at $42.6 million, covering 77 basis points of total loans. The company also noted strong credit metrics, with nonaccruing loans at 55 basis points and past-due loans at 37 basis points. Looking ahead, Washington Trust anticipates a flat margin in the fourth quarter and potential expansion in 2025 as the Federal Reserve's rate cuts take effect.Stabilized Net Interest Margin
The net interest margin has stabilized at 1.85%, indicating a halt in its previous decline, with expectations for growth as rates decrease.
Increase in Noninterest Income
Noninterest income amounted to $16.3 million, and excluding a prior gain, it was up by $600,000 or 4%.
Wealth Management Growth
Wealth management revenues increased by $311,000 or 3%, with assets under administration totaling $7.1 billion, up by $249 million or 4%.
Improved Capital Ratios
Total equity increased by $31 million from the end of the second quarter, reflecting improved capital ratios.
Strong Asset and Credit Quality
Nonaccruing loans were 55 basis points and past due loans 37 basis points of total loans, with continued strong credit statistics.
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WASH Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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WASH Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 21, 2024 | $31.32 | $33.84 | +8.05% |
| Jul 22, 2024 | $30.04 | $31.73 | +5.63% |
| Apr 22, 2024 | $24.15 | $24.34 | +0.79% |
| Jan 24, 2024 | $28.50 | $27.03 | -5.16% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Washington Trust Bancorp (WASH) report earnings?
Washington Trust Bancorp (WASH) is schdueled to report earning on Jan 29, 2025, TBA Not Confirmed.
What is Washington Trust Bancorp (WASH) earnings time?
Washington Trust Bancorp (WASH) earnings time is at Jan 29, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is WASH EPS forecast?
WASH EPS forecast for the fiscal quarter 2024 (Q4) is -0.78.
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