Core Viewpoint - The upgrade of Washington Trust to a Zacks Rank 1 (Strong Buy) reflects a positive earnings outlook, which could lead to increased buying pressure and a rise in stock price [1][12]. Earnings Estimates and Business Outlook - Rising earnings estimates for Washington Trust indicate an improvement in the company's underlying business, suggesting that investors should respond positively by pushing the stock higher [2]. - Over the past three months, the Zacks Consensus Estimate for Washington Trust has increased by 4.6% [4]. - The company is expected to earn $2.49 per share for the fiscal year ending December 2024, representing a year-over-year change of -11.7% [9]. Zacks Rating System - The Zacks Rank stock-rating system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks generating an average annual return of +25% since 1988 [3]. - Washington Trust's upgrade to Zacks Rank 1 places it in the top 5% of Zacks-covered stocks, indicating a strong potential for near-term price movement [11]. - The Zacks rating system maintains an equal proportion of 'buy' and 'sell' ratings across its universe of over 4000 stocks, ensuring a balanced approach to stock recommendations [10]. Impact of Earnings Estimate Revisions - Changes in earnings estimates are strongly correlated with near-term stock price movements, influenced by institutional investors who adjust their valuations based on these estimates [7]. - Tracking earnings estimate revisions can be a rewarding strategy for investment decisions, highlighting the importance of the Zacks Rank system in harnessing this data [8].

Group 1 - Washington Trust Bancorp, Inc. (WASH) has seen a 3.9% increase in the Zacks Consensus Estimate for its next year earnings over the last 60 days [1] - The company has a dividend yield of 7.3%, significantly higher than the industry average of 2.5% [4]

WESTERLY, R.I., Dec. 23, 2024 /PRNewswire/ -- The Washington Trust Company ("Washington Trust") recently announced that it has made charitable contributions and in-kind donations to 40 local nonprofit organizations to support their outreach efforts this holiday season. Washington Trust and its employees recently supported 40 Rhode Island-based community organizations during the holiday season through a combination of grant funding, toys, gifts, gift cards, and more. Donations benefited local families via ...

WESTERLY, R.I., Dec. 20, 2024 /PRNewswire/ -- Washington Trust Bancorp, Inc. (Nasdaq: WASH) (the "Corporation"), parent company of The Washington Trust Company, of Westerly (the "Bank"), today announced Bank balance sheet repositioning transactions to support continued organic growth and capital generation. "Like many banks, we have been carrying low-yielding assets on our balance sheet following rapid increases in interest rates over the past few years.  These assets have been earning interest below curren ...

PROVIDENCE, R.I., Dec. 17, 2024 /PRNewswire/ -- Washington Trust recently provided $800,000 in financing to the Rhode Island Hispanic Chamber of Commerce for the purchase of property located at 359 Broad Street in Providence, R.I., to be used as the Chamber's new headquarters.The property, known as the James Potter House, an elaborate Queen Anne Mansion built c. 1889 and designed by Stone, Carpenter and Willson, is located in the Trinity Square National Historic District in the Elmwood section of Providence ...

WESTERLY, R.I., Dec. 16, 2024 /PRNewswire/ -- Washington Trust Bancorp, Inc. (Nasdaq: WASH) (the "Corporation"), parent company of The Washington Trust Company, of Westerly (the "Bank"), today announced the closing of its previously announced underwritten public offering of 1,911,764 shares of its common stock at a public offering price of $34.00 per share. The 2,198,528 shares sold in the offering include 286,764 shares sold pursuant to the exercise of the underwriters' purchase option. BofA Securities is ...

WESTERLY, R.I., Dec. 12, 2024 /PRNewswire/ -- Washington Trust Bancorp, Inc. (Nasdaq: WASH) (the "Corporation"), parent company of The Washington Trust Company, of Westerly (the "Bank"), today announced the pricing of its previously announced underwritten public offering of 1,911,764 shares of its common stock at a public offering price of $34.00 per share.  The expected proceeds to the Corporation, after deducting underwriting discounts and commissions but before deducting operating expenses payable by the ...

WESTERLY, R.I., Dec. 12, 2024 /PRNewswire/ -- Washington Trust Bancorp, Inc. (Nasdaq: WASH) (the "Corporation"), parent company of The Washington Trust Company, of Westerly (the "Bank"), today announced it has commenced an underwritten public offering of $55,000,000 of the Corporation's common stock. The Corporation also expects to grant the underwriter a 30-day option to purchase up to an additional 15% of the shares of its common stock sold in the offering. BofA Securities is serving as the sole book-runn ...

Washington Trust Bancorp (WASH) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following yea ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended September 30, 2024 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from ______ to ______. Commission file number: 001-32991 | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|------------- ...