Washington Trust Bancorp
Market Cap
US$857.2m
Last Updated
2021/08/03 23:33 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 banking and financial services to individuals and businesses. More Details
Rewards
Risk Analysis
Earnings are forecast to decline by an average of 5.7% per year for the next 3 years
Snowflake Analysis
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
Stable Share Price: WASH is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 5% a week.
Volatility Over Time: WASH's weekly volatility (5%) has been stable over the past year.
Market Performance
7 Day Return
4.0%
WASH
1.2%
US Banks
0.9%
US Market
1 Year Return
49.3%
WASH
61.5%
US Banks
34.7%
US Market
Return vs Industry: WASH underperformed the US Banks industry which returned 58.2% over the past year.
Return vs Market: WASH exceeded the US Market which returned 34.4% over the past year.
Shareholder returns
| WASH | Industry | Market | |
|---|---|---|---|
| 7 Day | 4.0% | 1.2% | 0.9% |
| 30 Day | -3.3% | -2.6% | 0.2% |
| 90 Day | -4.7% | -5.6% | 4.7% |
| 1 Year | 56.7%49.3% | 66.0%61.5% | 36.8%34.7% |
| 3 Year | -2.3%-14.6% | 18.3%8.1% | 62.5%52.4% |
| 5 Year | 52.7%25.8% | 91.4%67.4% | 123.1%98.4% |
Long-Term 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
1 week ago | Simply Wall St
The Washington Trust Bancorp (NASDAQ:WASH) Share Price Has Gained 36% And Shareholders Are Hoping For More1 month ago | Simply Wall St
Should You Buy Washington Trust Bancorp, Inc. (NASDAQ:WASH) For Its Upcoming Dividend?1 month ago | Simply Wall St
Have Insiders Sold Washington Trust Bancorp, Inc. (NASDAQ:WASH) Shares Recently?Valuation
Is Washington Trust Bancorp undervalued compared to its fair value and its price relative to the market?
41.4%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: WASH ($49.49) is trading below our estimate of fair value ($84.41)
Significantly Below Fair Value: WASH is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: WASH is poor value based on its PE Ratio (11.5x) compared to the US Banks industry average (10.7x).
PE vs Market: WASH is good value based on its PE Ratio (11.5x) compared to the US market (17.9x).
Price to Earnings Growth Ratio
PEG Ratio: WASH's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: WASH is overvalued based on its PB Ratio (1.6x) compared to the US Banks industry average (1.1x).
Future Growth
How is Washington Trust Bancorp forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?
-5.7%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: WASH's earnings are forecast to decline over the next 3 years (-5.7% per year).
Earnings vs Market: WASH's earnings are forecast to decline over the next 3 years (-5.7% per year).
High Growth Earnings: WASH's earnings are forecast to decline over the next 3 years.
Revenue vs Market: WASH's revenue is expected to decline over the next 3 years (-0.7% per year).
High Growth Revenue: WASH's revenue is forecast to decline over the next 3 years (-0.7% 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
Past Performance
How has Washington Trust Bancorp performed over the past 5 years?
11.3%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: WASH has high quality earnings.
Growing Profit Margin: WASH's current net profit margins (32.4%) are lower than last year (33.6%).
Past Earnings Growth Analysis
Earnings Trend: WASH's earnings have grown by 11.3% per year over the past 5 years.
Accelerating Growth: WASH's earnings growth over the past year (11.1%) is below its 5-year average (11.3% per year).
Earnings vs Industry: WASH earnings growth over the past year (11.1%) underperformed the Banks industry 35.1%.
Return on Equity
High ROE: WASH's Return on Equity (13.7%) is considered low.
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
Financial Institutions Analysis
Asset Level: WASH's Assets to Equity ratio (10.7x) is moderate.
Allowance for Bad Loans: WASH has a sufficient allowance for bad loans (400%).
Low Risk Liabilities: 89% of WASH's liabilities are made up of primarily low risk sources of funding.
Loan Level: WASH has an appropriate level of Loans to Assets ratio (73%).
Low Risk Deposits: WASH's Loans to Deposits ratio (90%) is appropriate.
Level of Bad Loans: WASH has an appropriate level of bad loans (0.2%).
Dividend
What is Washington Trust Bancorp current dividend yield, its reliability and sustainability?
4.20%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: WASH's dividend (4.2%) is higher than the bottom 25% of dividend payers in the US market (1.32%).
High Dividend: WASH's dividend (4.2%) is in the top 25% of dividend payers in the US market (3.57%)
Stability and Growth of Payments
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 (47.9%), 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 (56.5% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
3.4yrs
Average management tenure
CEO
Ned Handy (59 yo)
3.42yrs
Tenure
US$1,646,713
Compensation
Mr. Edward Otis Handy, III, also known as Ned, has been the Chairman and Chief Executive Officer of Washington Trust Bancorp, Inc. and its subsidiary, The Washington Trust Company of Westerly since March 2...
CEO Compensation Analysis
Compensation vs Market: Ned's total compensation ($USD1.65M) is below average for companies of similar size in the US market ($USD2.42M).
Compensation vs Earnings: Ned's compensation has been consistent with company performance over the past year.
Leadership Team
Experienced Management: WASH's management team is considered experienced (3.4 years average tenure).
Board Members
Experienced Board: WASH's board of directors are considered experienced (9.3 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: WASH insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
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$857.167m
- Shares outstanding: 17.32m
- Website: https://www.washtrust.com
Number of Employees
Location
- Washington Trust Bancorp, Inc.
- 23 Broad Street
- PO Box 512
- Westerly
- Rhode Island
- 02891-0512
- United States
Listings
Biography
Washington Trust Bancorp, Inc. operates as the bank holding company for The Washington Trust Company, of Westerly that offers various banking and financial services to individuals and businesses. The compa...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/08/03 23:33 |
| End of Day Share Price | 2021/08/03 00:00 |
| Earnings | 2021/06/30 |
| Annual Earnings | 2020/12/31 |
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.