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In its upcoming report, Washington Trust Bancorp (WASH) is predicted by Wall Street analysts to post quarterly earnings of $0.62 per share, reflecting a decline of 3.1% compared to the same period last year. Revenues are forecasted to be $52.98 million, representing a year-over-year increase of 8.5%.
The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Given this perspective, it's time to examine the average forecasts of specific Washington Trust metrics that are routinely monitored and predicted by Wall Street analysts.
Based on the collective assessment of analysts, 'Efficiency Ratio' should arrive at 69.5%. The estimate compares to the year-ago value of 70.4%.
Analysts' assessment points toward 'Total noninterest income' reaching $16.28 million. The estimate compares to the year-ago value of $17.16 million.
The consensus among analysts is that 'Net Interest Income' will reach $36.69 million. The estimate is in contrast to the year-ago figure of $31.67 million.
View all Key Company Metrics for Washington Trust here>>>
Over the past month, shares of Washington Trust have returned -13.9% versus the Zacks S&P 500 composite's -3.9% change. Currently, WASH carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Washington Trust Bancorp, Inc. (WASH) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).