Core Viewpoint - Washington Trust Bancorp (WASH) has experienced a downtrend, losing 16.4% over the past four weeks, but a hammer chart pattern suggests a potential trend reversal as buying interest may be emerging [1][2]. Technical Analysis - The hammer chart pattern indicates a possible bottom formation, suggesting that selling pressure may be exhausting and that bulls could be gaining control [2][4]. - A hammer pattern forms when there is a small candle body with a long lower wick, indicating that the stock opened lower, made a new low, but closed near or above the opening price, reflecting buying interest [3][4]. Fundamental Analysis - Recent upward revisions in earnings estimates for WASH serve as a bullish indicator, with a 4.1% increase in the consensus EPS estimate over the last 30 days, suggesting analysts expect better earnings than previously predicted [6][7]. - WASH holds a Zacks Rank 1 (Strong Buy), placing it in the top 5% of over 4,000 ranked stocks, indicating strong potential for outperformance in the market [8].

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. 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 ...

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.While many investors like to look for moment ...

Washington Trust Bancorp, Inc.'s (NASDAQ: WASH ) Q3 2024 was recently released, and the market reacted positively with +8.06%. Underlying this optimism is more conservative balance sheet management as well as a return to growth in non-interest-bearing deposits. In addition, both EPS and revenueHi there, welcome to my profile. My name is Eugenio Catone, I live in Italy and I am 26 years old. In 2023 I graduated in Business Administration and I am completing my studies. My interest in financial markets starte ...

For the quarter ended September 2024, Washington Trust Bancorp (WASH) reported revenue of $48.53 million, down 0.9% over the same period last year. EPS came in at $0.64, compared to $0.65 in the year-ago quarter.The reported revenue represents a surprise of +2.57% over the Zacks Consensus Estimate of $47.32 million. With the consensus EPS estimate being $0.56, the EPS surprise was +14.29%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare ...

Washington Trust Bancorp (WASH) came out with quarterly earnings of $0.64 per share, beating the Zacks Consensus Estimate of $0.56 per share. This compares to earnings of $0.65 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 14.29%. A quarter ago, it was expected that this holding company for The Washington Trust Co. Would post earnings of $0.49 per share when it actually produced earnings of $0.63, delivering a surprise of 28 ...