Washington Trust Bancorp
Market Cap
US$881.6m
Last Updated
2019/10/22 23:44 UTC
Data Sources
Company Financials +
Executive Summary
Washington Trust Bancorp, Inc. operates as the bank holding company for The Washington Trust Company, of Westerly that offers various financial products and services to individuals and businesses.
Snowflake
Fundamentals
Flawless balance sheet 6 star dividend payer.
Similar Companies
Share Price & News
How has Washington Trust Bancorp's share price performed over time and what events caused price changes?
Latest Share Price and Events
Market Performance
7 Day Return
5.4%
WASH
2.9%
US Banks
0.07%
US Market
1 Year Return
-1.7%
WASH
8.6%
US Banks
8.9%
US Market
Return vs Industry: WASH underperformed the US Banks industry which returned 8.6% over the past year.
Return vs Market: WASH underperformed the US Market which returned 8.9% over the past year.
Shareholder returns
| WASH | Industry | Market | |
|---|---|---|---|
| 7 Day | 5.4% | 2.9% | 0.07% |
| 30 Day | 2.8% | 3.4% | -0.3% |
| 90 Day | 3.6% | 2.1% | -1.6% |
| 1 Year | 2.3%-1.7% | 11.8%8.6% | 11.3%8.9% |
| 3 Year | 23.2%11.6% | 54.8%44.1% | 46.3%36.8% |
| 5 Year | 58.3%33.6% | 70.2%51.6% | 62.1%44.3% |
Price Volatility Vs. Market
How volatile is Washington Trust Bancorp's share price compared to the market and industry in the last 5 years?
Simply Wall St News
4 weeks ago | Simply Wall St
Washington Trust Bancorp, Inc. (NASDAQ:WASH) Passed Our Checks, And It's About To Pay A 1.0% Dividend1 month ago | Simply Wall St
Did Washington Trust Bancorp, Inc. (NASDAQ:WASH) Insiders Sell Shares?2 months ago | Simply Wall St
Is Washington Trust Bancorp, Inc. (NASDAQ:WASH) A Smart Choice For Dividend Investors?Valuation
Is Washington Trust Bancorp undervalued compared to its fair value and its price relative to the market?
12.5x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: WASH ($50.85) is trading above our estimate of fair value ($42.17)
Significantly Below Fair Value: WASH is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: WASH is good value based on its PE Ratio (12.5x) compared to the Banks industry average (12.6x).
PE vs Market: WASH is good value based on its PE Ratio (12.5x) compared to the US market (17.8x).
Price to Earnings Growth Ratio
PEG Ratio: WASH is poor value based on its PEG Ratio (6.7x)
Price to Book Ratio
PB vs Industry: WASH is overvalued based on its PB Ratio (1.8x) compared to the US Banks industry average (1.2x).
Next Steps
Future Growth
How is Washington Trust Bancorp forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
1.9%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: WASH's forecast earnings growth (1.9% per year) is below the savings rate (2.7%).
Earnings vs Market: WASH's earnings (1.9% per year) are forecast to grow slower than the US market (14.5% per year).
High Growth Earnings: WASH's earnings are forecast to grow, but not significantly.
Revenue vs Market: WASH's revenue is expected to decline over the next 3 years (-0.01% per year).
High Growth Revenue: WASH's revenue is forecast to decline over the next 3 years (-0.01% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if WASH's Return on Equity is forecast to be high in 3 years time
Next Steps
Past Performance
How has Washington Trust Bancorp performed over the past 5 years?
11.8%
Historical annual earnings growth
Earnings and Revenue History
Past Earnings Growth Analysis
Earnings Trend: WASH's earnings have grown by 11.8% per year over the past 5 years.
Accelerating Growth: WASH's earnings growth over the past year (19%) exceeds its 5-year average (11.8% per year).
Earnings vs Industry: WASH earnings growth over the past year (19%) underperformed the Banks industry 29.7%.
Return on Equity
High ROE: WASH's Return on Equity (14.2%) is considered low.
Return on Assets
ROA vs Industry: WASH has a higher Return on Assets than the Banks industry average last year.
Return on Capital Employed
ROCE Improving: Insufficient data to calculate WASH's Return on Capital Employed to determine if it has improved over the past 3 years.
Next Steps
Financial Health
How is Washington Trust Bancorp's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Inventory Level: WASH has a low level of unsold assets or inventory.
Debt Coverage by Assets: WASH's debt is not covered by short term assets (assets are 0.2x debt).
Financial Institutions Analysis
Asset Level: WASH's level of assets compared to its equity is moderate.
Allowance for Bad Loans: WASH has a sufficient allowance for bad loans.
Low Risk Liabilities: WASH's liabilities are made up of primarily low risk sources of funding.
Loan Level: WASH has an acceptable proportion of non-loan assets held.
Low Risk Deposits: WASH's loans are broadly funded by customer deposits.
Level of Bad Loans: WASH has an appropriate level of bad loans (0.34%)
Next Steps
Dividend
What is Washington Trust Bancorp's current dividend yield, its reliability and sustainability?
4.01%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Stability and Growth of Payments
Notable Dividend: WASH's dividend (4.01%) is higher than the bottom 25% of dividend payers in the US market (1.45%).
High Dividend: WASH's dividend (4.01%) is in the top 25% of dividend payers in the US market (3.68%)
Stable Dividend: WASH's dividends per share have been stable in the past 10 years.
Growing Dividend: WASH's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (48.2%), WASH's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: WASH's dividends in 3 years are forecast to be covered by earnings (57.5% payout ratio).
Next Steps
Management
What is the CEO of Washington Trust Bancorp's salary, the management and board of directors tenure and is there insider trading?
1.9yrs
Average management tenure
CEO
Ned Handy (57yo)
1.6yrs
Tenure
US$1,714,555
Compensation
Mr. Edward “Ned” O. Handy III, is the Chairman of the Board of Directors and Chief Executive Officer for Washington Trust Bancorp, Inc., the parent of Washington Trust Company. He leads a team of more than ...
CEO Compensation Analysis
Compensation vs. Market: Ned has recently become CEO, making it difficult to compare their total compensation against companies of similar size in the US market.
Compensation vs Earnings: Ned's compensation has increased by more than 20% in the past year.
Management Age and Tenure
1.9yrs
Average Tenure
54yo
Average Age
Experienced Management: WASH's management team is not considered experienced ( 1.9 years average tenure), which suggests a new team.
Board Age and Tenure
8.5yrs
Average Tenure
70.5yo
Average Age
Experienced Board: WASH's board of directors are considered experienced (8.5 years average tenure).
Insider Trading
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
| Entity | Individual |
| Role | Member of the Board of Directors Independent Director |
| Shares | 600 |
| Max Price | US$52.95 |
| Entity | Individual |
| Shares | 500 |
| Max Price | US$53.00 |
| Entity | Individual |
| Role | Member of the Board of Directors Independent Director |
| Shares | 300 |
| Max Price | US$50.50 |
| Entity | Individual |
| Shares | 1,000 |
| Max Price | US$51.94 |
Ownership Breakdown
Management Team
Beth Eckel (59yo)
Senior VP and Chief Marketing & Corporate Communications Officer
- Tenure: 0yrs
Joe MarcAurele (68yo)
Director
- Tenure: 9.5yrs
- Compensation: US$292.78k
Ned Handy (57yo)
Chairman & CEO
- Tenure: 1.6yrs
- Compensation: US$1.71m
Mark K. Gim (53yo)
President & COO
- Tenure: 1.6yrs
- Compensation: US$987.31k
Kristen DiSanto (49yo)
Senior EVP
- Tenure: 1.7yrs
Maria Janes (48yo)
Executive VP & Controller
- Tenure: 21.8yrs
Ronald Ohsberg (54yo)
Senior EVP
- Tenure: 1.8yrs
- Compensation: US$607.26k
Jim Hagerty (61yo)
Executive VP & Chief Lending Officer of Washington Trust Company of Westerly
- Tenure: 7.3yrs
- Compensation: US$589.76k
Joe Confessore
Senior Vice President of Wealth Management & Commercial Banking
- Tenure: 0yrs
Kathi Ryan (53yo)
Executive VP & Chief Wealth Management Officer of Washington Trust Company of Westerly
- Tenure: 2.1yrs
- Compensation: US$621.91k
Board Members
Kathleen McKeough (68yo)
Lead Director
- Tenure: 0.5yrs
- Compensation: US$102.55k
John Warren (73yo)
Member of Advisory Council
- Tenure: 0yrs
- Compensation: US$17.33k
Jack Treanor (71yo)
Independent Director
- Tenure: 18.8yrs
- Compensation: US$82.05k
Joyce Resnikoff (82yo)
Member of Advisory Council
- Tenure: 0yrs
- Compensation: US$25.70k
James Sullivan (81yo)
Member of Advisory Council
- Tenure: 0yrs
- Compensation: US$32.35k
Neil Thorp (79yo)
Member of Advisory Council
- Tenure: 0yrs
- Compensation: US$22.00k
Katherine Hoxsie (70yo)
Independent Director
- Tenure: 28.8yrs
- Compensation: US$91.55k
Joe MarcAurele (68yo)
Director
- Tenure: 9.5yrs
- Compensation: US$292.78k
Ned Handy (57yo)
Chairman & CEO
- Tenure: 1.6yrs
- Compensation: US$1.71m
Ed Santos (59yo)
Independent Director
- Tenure: 7.5yrs
- Compensation: US$85.72k
Company Information
Washington Trust Bancorp, Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Washington Trust Bancorp, Inc.
- Ticker: WASH
- Exchange: NasdaqGS
- Founded: 1800
- Industry: Regional Banks
- Sector: Banks
- Market Cap: US$881.637m
- Shares outstanding: 17.34m
- Website: https://www.washtrust.com
Number of Employees
Location
- Washington Trust Bancorp, Inc.
- 23 Broad Street
- Westerly
- Rhode Island
- 2891
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| WASH | NasdaqGS (Nasdaq Global Select) | Yes | Common Stock | US | USD | Jun 1987 |
Biography
Washington Trust Bancorp, Inc. operates as the bank holding company for The Washington Trust Company, of Westerly that offers various financial products and services to individuals and businesses. The comp ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/10/22 23:44 |
| End of Day Share Price | 2019/10/22 00:00 |
| Earnings | 2019/09/30 |
| Annual Earnings | 2018/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.