Washington Trust Bancorp (WASH) Reports In-Line Q4 EPS

Washington Trust Bancorp (NASDAQ: WASH) reported Q4 EPS of $0.98, in-line with the analyst estimate of $0.98. Revenue for the quarter came in at $33.9 million versus the consensus estimate of $33.67 million.

Returns on average equity and average assets for the fourth quarter were 15.61% and 1.40%, respectively. Full-year returns on average equity and average assets were at 16.20% and 1.46%, respectively.
Total loans were up by $124 million, or 3%, from the end of the prior quarter and up by $306 million, or 9%, from a year ago.
Total deposits were up by $110 million, or 3%, from the end of the preceding quarter and up by $281 million, or 9%, from a year ago.
In December, Washington Trust declared a quarterly dividend of 47 cents per share, representing a 4 cent per share, or 9%, increase over the preceding quarter. Full-year 2018 dividends declared amounted to $1.76 per share, representing an increase of 22 cents per share, or 14%, over last year.

“Washington Trust reported record full-year 2018 earnings, reached $5 billion in total assets and posted all-time high levels of total deposits and loans,” stated Edward O. Handy III, Washington Trust Chairman and Chief Executive Officer. “These achievements are testaments to our continued success in growing our key business lines and expanding our presence throughout the region.”

For earnings history and earnings-related data on Washington Trust Bancorp (WASH) click here.

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