Washington Trust Bancorp (NASDAQ:WASH) changed -0.20% to recent value of $51.1. The stock transacted 33537 shares during most recent day however it has an average volume of 40.40K shares. It spotted trading -7.02% off 52-week high price. On the other end, the stock has been noted 13.03% away from the low price over the last 52-weeks.
On Jan. 27, 2020, Washington Trust Bancorp (NASDAQ:WASH) parent company of The Washington Trust Company, disclosed fourth quarter 2019 net income of $15.5 million, or $0.89 per diluted share, compared to net income of $18.8 million, or $1.08 per diluted share, reported for the third quarter of 2019. Net income for the year ended December 31, 2019 totaled $69.1 million, or $3.96 per diluted share, compared to $68.4 million, or $3.93 per diluted share, reported for the prior year.
Washington Trust reported record full-year 2019 earnings, stated Edward O. Handy III, Washington Trust Chairman and Chief Executive Officer. Our results reflect the strength and stability of our core business model, which enabled us to generate growth and revenues from key business lines. As we enter our 220th year of service, Washington Trust remains committed to providing enhanced value to those who have contributed to our success over time: our employees, our customers, our communities and our shareholders.
Selected highlights for the fourth quarter and full-year 2019 include:
- Returns on average equity and average assets for the fourth quarter 2019 were 12.24% and 1.18%, respectively. Full-year returns on average equity and average assets were 14.34% and 1.34%, respectively.
- Total loans amounted to $3.9 billion at December 31, 2019, up by $115 million, or 3%, from the end of the preceding quarter. Total loans were up by $213 million, or 6%, from December 31, 2018.
- In-market deposits (total deposits less out-of-market wholesale brokered time deposits) amounted to $3.2 billion at December 31, 2019, up by $59 million, or 2%, from the end of the preceding quarter. Total in-market deposits were up by $167 million, or 5%, from December 31, 2018.
WASH has an operating margin of 67.20% while its profit margin remained 35.60% for the last 12 months. Its earnings per share (EPS) expected to touch remained 30.90% for this year while earning per share for the next 5-years is expected to reach at 5.00%.
The company has 17.18M of outstanding shares and 15.04M shares were floated in the market. The price moved ahead of -2.90% from the mean of 20 days, -3.05% from mean of 50 days SMA and performed 1.03% from mean of 200 days price. Company’s performance for the week was -2.07%, -6.62% for month and YTD performance remained -5.00%.
Christopher Pacheco has worked as financial analyst until his retirement. He is a well-known research director and portfolio manager for more than 5 years. After many years in the market, he dedicated all his time to write articles highlighting different financial problems.
Christopher Pacheco holds a postgraduate degree in Software Engineering from Canada. ‘The stock market is filled with individuals who know the price of everything, but the value of nothing.’ Christopher is a share market expert, being personally invested for over 6 years. He believes the most valuable nugget of wisdom for new investors is a quote from Phillip Fisher. He has been writing his entire life, and while he has made a career of business and finance reporting, he still enjoys writing short stories and poetry.
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