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Washington Trust Bancorp, Inc. (WASH) Q4 2023 Earnings Call Transcript

The headline numbers for Washington Trust (WASH) give insight into how the company performed in the quarter ended December 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Washington Trust Bancorp (WASH) came out with quarterly earnings of $0.76 per share, beating the Zacks Consensus Estimate of $0.54 per share. This compares to earnings of $0.95 per share a year ago.

Get a deeper insight into the potential performance of Washington Trust (WASH) for the quarter ended December 2023 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.

WESTERLY, R.I., Jan. 12, 2024 /PRNewswire/ -- Washington Trust Bancorp, Inc. (NASDAQ: WASH), the publicly owned holding company of The Washington Trust Company, will release fourth quarter 2023 earnings and host a conference call with the Corporation's executives as follows: Earnings Release: Wednesday, January 24, 2024, After Market Closes Conference Call:  Thursday, January 25, 2024, 8:30 a.m.

Shares of Washington Trust Bancorp dropped nearly 10% after Q3 financial results before falling further after that, presenting a buying opportunity. The bank has shown growth in deposits and loans, with minimal exposure to high-risk assets. Despite challenges with interest rates, the bank's valuation is attractive, making it an interesting prospect for investors.

Washington Trust Bancorp (WASH) came out with quarterly earnings of $0.65 per share, beating the Zacks Consensus Estimate of $0.56 per share. This compares to earnings of $1.08 per share a year ago.

WESTERLY, R.I. , Oct. 5, 2023 /PRNewswire/ -- Washington Trust Bancorp, Inc. (NASDAQ: WASH), the publicly owned holding company of The Washington Trust Company, will release third quarter 2023 earnings and host a conference call with the Corporation's executives as follows: Earnings Release:                        Monday, October 23, 2023, After Market Closes Conference Call:                        Tuesday, October 24, 2023, 8:30 a.m.

Washington Trust's (WASH) subsidiary agrees to settle the U.S. Department of Justice's allegations regarding violation of fair lending laws in Rhode Island between 2016 and 2021.

Market turmoil continues in 2023 due to higher interest rates and the Federal Reserve's actions to contain inflation. Dividend yields have climbed, particularly in interest rate-sensitive industries, presenting opportunities for income investors. Three undervalued high-yield stocks with reasonable valuations are Verizon Communications, Washington Trust Bancorp, and Walgreens Boots Alliance.