Washington Trust: Fourth Quarter Earnings Overview
Washington Trust Bancorp Announces Strong Fourth-Quarter Results
Washington Trust Bancorp Inc., headquartered in Westerly, Rhode Island, announced on Wednesday that it achieved a net income of $16 million for the fourth quarter.
The company reported earnings of 83 cents per share for the quarter, surpassing the expectations of Wall Street analysts. According to a survey by Zacks Investment Research, analysts had anticipated earnings of 75 cents per share.
During the same period, the holding company for The Washington Trust Co. generated total revenue of $97.3 million. After accounting for interest expenses, net revenue reached $59.3 million, which also exceeded analyst projections.
For the full year, Washington Trust Bancorp recorded a profit of $52.2 million, translating to $2.71 per share, with annual revenue totaling $229 million.
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