Washington Trust Bancorp (WASH) Tops Q3 EPS by 1c

Washington Trust Bancorp (NASDAQ: WASH) reported Q3 EPS of $0.75, $0.01 better than the analyst estimate of $0.74. Revenue for the quarter came in at $0 versus the consensus estimate of $30.29 million.

• Returns on average equity and average assets were 12.56% and 1.18%, respectively. Comparable amounts for the second quarter of 2017 were 13.06% and 1.21%, respectively.
• Third quarter 2017 total revenues (net interest income and noninterest income) amounted to $47.3 million, a record level for the Company.
• Wealth management assets stood at an all-time high of $6.6 billion at September 30, 2017 and third quarter 2017 wealth management revenues exceeded $10.0 million for the first time in the Company's history.
• Total loans surpassed $3.3 billion at September 30, 2017 and were up by 4% in the third quarter.
• Total deposits grew by 4% in the third quarter and amounted to $3.2 billion at September 30, 2017.
• In September 2017, Washington Trust declared a quarterly dividend of 39 cents per share, representing a 1 cent per share increase over the preceding quarter.

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

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