Compared to Estimates, Washington Trust (WASH) Q3 Earnings: A Look at Key Metrics

Core Insights - Washington Trust Bancorp reported a revenue of $48.53 million for the quarter ended September 2024, reflecting a decrease of 0.9% year-over-year, but a positive surprise of +2.57% compared to the Zacks Consensus Estimate of $47.32 million [1] - The earnings per share (EPS) for the quarter was $0.64, slightly down from $0.65 in the same quarter last year, with an EPS surprise of +14.29% against the consensus estimate of $0.56 [1] Financial Metrics - Net Interest Margin was reported at 1.9%, exceeding the average estimate of 1.8% from two analysts [2] - The Efficiency Ratio stood at 71.1%, better than the average estimate of 72.9% based on two analysts [2] - Total noninterest income reached $16.27 million, surpassing the average estimate of $15.74 million from two analysts [2] - Net Interest Income was reported at $32.26 million, compared to the average estimate of $31.60 million from two analysts [2] Stock Performance - Over the past month, shares of Washington Trust have returned +0.9%, while the Zacks S&P 500 composite has changed by +4.5% [2] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [2]