Washington Trust Bancorp (WASH) Q4 Earnings and Revenues Beat Estimates

Core Viewpoint - Washington Trust Bancorp reported quarterly earnings of $0.59 per share, exceeding the Zacks Consensus Estimate of$0.58 per share, but down from $0.76 per share a year ago [1] Financial Performance - The company achieved an earnings surprise of 1.72$0.64 per share against an estimate of $0.56 [2] - Revenues for the quarter were$48.98 million, surpassing the Zacks Consensus Estimate by 1.29%, and up from $45.96 million year-over-year [3] Market Performance - Washington Trust shares have increased by approximately 3.2$0.61 on revenues of $51.03 million, and for the current fiscal year, it is$2.70 on revenues of $211.08 million [8] - The estimate revisions trend for Washington Trust is favorable, resulting in a Zacks Rank 1 (Strong Buy) for the stock, indicating expected outperformance in the near future [7] Industry Context - The Banks - Northeast industry, to which Washington Trust belongs, is currently ranked in the top 9% of over 250 Zacks industries, suggesting a strong performance relative to the broader market [9]