WASH Earnings Prediction
The chart below shows how WASH performed 10 days before and after its earnings report, based on data from the past quarters. Typically, WASH sees a -2.22% change in stock price 10 days leading up to the earnings, and a -3.70% change 10 days following the report. On the earnings day itself, the stock moves by -0.49%. This data can give you a slight idea of what to expect for the next quarter's release.
WASH Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
47.35M
-1.01%
2.67%
Gross Margin
--
--
--
Operating Margin
29.21%
-0.81%
-2.63%
Net Margin
23.19%
-0.60%
-1.11%
EPS
0.64
-1.54%
1.59%
No Data Available
WASH Earnings Analysis
Washington Trust Bancorp Inc Corporation (WASH.O) Earnings Conference Call
Positive
Third Quarter Net Income: Net income for the third quarter was $11 million and $0.64 per share.
Net Interest Income Increase: Net interest income was $32.3 million, up by $677,000 or 2% from the preceding quarter.
Margin Increase: The margin was 1.85%, up by 2 basis points.
Community Branch Impact: We opened a full-service branch in the Olneyville neighborhood of Providence and already see it as a catalyst for community strength and potential for a great new customer base.
Mortgage Pipeline Increase: Our mortgage pipeline at September 30 was $107 million, up 2% from the end of June.
Negative
Net Income Decline: Net income for the third quarter was $11 million and $0.64 per share, indicating a decline from previous quarters.
Non-Interest Income Decline: Non-interest income comprised 34% of revenue and amounted to $16.3 million, down by $388,000 or 2%.
Loan Decrease Overview: Total loans were down by $114 million or 2%, with commercial loans decreasing by $82 million or 3%.
Non-Interest Expense Increase: Non-interest expenses were up $594,000 or 2% from Q2, including an increase in advertising and promotion expense of about $196,000 due to timing.
Effective Tax Rate Changes: The third quarter effective tax rate was 20.6%, and for 2024, it is expected to be 21%.
WASH FAQs
How does WASH typically perform around its earnings report dates?
Is Washington Trust Bancorp, Inc. (WASH) Q3 2024 Earnings Call Summary positive or negative?
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WASH Earning Call Sentiment
Washington Trust Bancorp, Inc. (WASH) Q3 2024 Earnings Call Transcript
1.0x
00:00
00:00
WASH.O
-6.52%Positive
Basic Financial Performance: 3 - Mixed results with slight net income decline but improved net interest income. Product Development and Business Update: 3 - No major developments, slight improvements in wealth management and mortgage revenues. Market Strategy: 3 - No significant changes or strategies discussed. Expenses and Financial Health: 3 - Slight increase in expenses, stable margins, and loan-to-deposit ratio improvement. Shareholder Return Plan: 2 - No share repurchase plan. Overall, mixed performance and lack of significant catalysts suggest a neutral short-term stock price movement.
