WASHINGTON TRUST BANCORP (WASH)

US9406101082 - Common Stock

26.88  -0.59 (-2.15%)

After market: 26.88 0 (0%)

Fundamental Rating

3

Overall WASH gets a fundamental rating of 3 out of 10. We evaluated WASH against 415 industry peers in the Banks industry. While WASH seems to be doing ok healthwise, there are quite some concerns on its profitability. WASH has a expensive valuation and it also scores bad on growth. Finally WASH also has an excellent dividend rating.



3

1. Profitability

1.1 Basic Checks

WASH had positive earnings in the past year.
In the past year WASH had a positive cash flow from operations.
WASH had positive earnings in each of the past 5 years.
Each year in the past 5 years WASH had a positive operating cash flow.

1.2 Ratios

With a Return On Assets value of 0.67%, WASH is not doing good in the industry: 70.84% of the companies in the same industry are doing better.
WASH's Return On Equity of 10.17% is in line compared to the rest of the industry. WASH outperforms 56.14% of its industry peers.
Industry RankSector Rank
ROA 0.67%
ROE 10.17%
ROIC N/A
ROA(3y)1.02%
ROA(5y)1.11%
ROE(3y)13.17%
ROE(5y)13.25%
ROIC(3y)N/A
ROIC(5y)N/A

1.3 Margins

WASH has a Profit Margin of 24.89%. This is comparable to the rest of the industry: WASH outperforms 51.33% of its industry peers.
In the last couple of years the Profit Margin of WASH has declined.
The Operating Margin and Gross Margin are not available for WASH so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) 24.89%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-6.79%
PM growth 5Y-6.66%
GM growth 3YN/A
GM growth 5YN/A

4

2. Health

2.1 Basic Checks

WASH does not have a ROIC to compare to the WACC, probably because it is not profitable.
The number of shares outstanding for WASH has been reduced compared to 1 year ago.
WASH has less shares outstanding than it did 5 years ago.
Compared to 1 year ago, WASH has an improved debt to assets ratio.

2.2 Solvency

WASH has a debt to FCF ratio of 0.85. This is a very positive value and a sign of high solvency as it would only need 0.85 years to pay back of all of its debts.
WASH has a better Debt to FCF ratio (0.85) than 78.55% of its industry peers.
A Debt/Equity ratio of 0.05 indicates that WASH is not too dependend on debt financing.
WASH has a Debt to Equity ratio of 0.05. This is amongst the best in the industry. WASH outperforms 83.13% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.05
Debt/FCF 0.85
Altman-Z N/A
ROIC/WACCN/A
WACC12.82%

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A

2

3. Growth

3.1 Past

WASH shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -31.63%.
Measured over the past years, WASH shows a decrease in Earnings Per Share. The EPS has been decreasing by -6.49% on average per year.
WASH shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -11.60%.
WASH shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -0.12% yearly.
EPS 1Y (TTM)-31.63%
EPS 3Y-11.69%
EPS 5Y-6.49%
EPS growth Q2Q-20%
Revenue 1Y (TTM)-11.6%
Revenue growth 3Y-5.2%
Revenue growth 5Y-0.12%
Revenue growth Q2Q-16.63%

3.2 Future

Based on estimates for the next years, WASH will show a decrease in Earnings Per Share. The EPS will decrease by -3.23% on average per year.
The Revenue is expected to grow by 2.38% on average over the next years.
EPS Next Y-25.31%
EPS Next 2Y-3.23%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-6.34%
Revenue Next 2Y2.38%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.

2

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 9.57, the valuation of WASH can be described as very reasonable.
WASH's Price/Earnings ratio is in line with the industry average.
Compared to an average S&P500 Price/Earnings ratio of 26.48, WASH is valued rather cheaply.
With a Price/Forward Earnings ratio of 12.81, WASH is valued correctly.
Compared to the rest of the industry, the Price/Forward Earnings ratio of WASH indicates a slightly more expensive valuation: WASH is more expensive than 62.17% of the companies listed in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.79, WASH is valued a bit cheaper.
Industry RankSector Rank
PE 9.57
Fwd PE 12.81

4.2 Price Multiples

74.46% of the companies in the same industry are cheaper than WASH, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 17.24
EV/EBITDA N/A

4.3 Compensation for Growth

A cheap valuation may be justified as WASH's earnings are expected to decrease with -3.23% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-3.23%
EPS Next 3YN/A

7

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 8.48%, WASH is a good candidate for dividend investing.
WASH's Dividend Yield is rather good when compared to the industry average which is at 3.70. WASH pays more dividend than 99.52% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.34, WASH pays a better dividend.
Industry RankSector Rank
Dividend Yield 8.48%

5.2 History

The dividend of WASH has a limited annual growth rate of 5.85%.
WASH has paid a dividend for at least 10 years, which is a reliable track record.
WASH has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)5.85%
Div Incr Years13
Div Non Decr Years15

5.3 Sustainability

WASH pays out 80.33% of its income as dividend. This is not a sustainable payout ratio.
The Dividend Rate of WASH has been growing, while earnings will be declining. This means the dividend growth is most likely not sustainable.
DP80.33%
EPS Next 2Y-3.23%
EPS Next 3YN/A

WASHINGTON TRUST BANCORP

NASDAQ:WASH (3/28/2024, 8:00:02 PM)

After market: 26.88 0 (0%)

26.88

-0.59 (-2.15%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
Ins Owner Change
Market Cap457.77M
Analysts
Price Target
Dividend
Industry RankSector Rank
Dividend Yield 8.48%
Dividend Growth(5Y)
DP
Div Incr Years
Div Non Decr Years
Ex-Date
Surprises & Revisions
EPS beat(2)
Avg EPS beat(2)
Min EPS beat(2)
Max EPS beat(2)
EPS beat(4)
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Min EPS beat(4)
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EPS beat(8)
Avg EPS beat(8)
EPS beat(12)
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EPS beat(16)
Avg EPS beat(16)
Revenue beat(2)
Avg Revenue beat(2)
Min Revenue beat(2)
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Revenue beat(4)
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Revenue beat(8)
Avg Revenue beat(8)
Revenue beat(12)
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Revenue beat(16)
Avg Revenue beat(16)
PT rev (1m)
PT rev (3m)
EPS NQ rev (1m)
EPS NQ rev (3m)
EPS NY rev (1m)
EPS NY rev (3m)
Revenue NQ rev (1m)
Revenue NQ rev (3m)
Revenue NY rev (1m)
Revenue NY rev (3m)
Valuation
Industry RankSector Rank
PE 9.57
Fwd PE 12.81
P/S
P/FCF
P/OCF
P/B
P/tB
EV/EBITDA
EPS(TTM)
EY
EPS(NY)
Fwd EY
FCF(TTM)
FCFY
OCF(TTM)
OCFY
SpS
BVpS
TBVpS
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 0.67%
ROE 10.17%
ROCE
ROIC
ROICexc
ROICexgc
OM N/A
PM (TTM) 24.89%
GM N/A
FCFM
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset Turnover0.03
Health
Industry RankSector Rank
Debt/Equity 0.05
Debt/FCF
Debt/EBITDA
Cap/Depr
Cap/Sales
Interest Coverage
Cash Conversion
Profit Quality
Current Ratio N/A
Quick Ratio N/A
Altman-Z
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
Growth
EPS 1Y (TTM)-31.63%
EPS 3Y-11.69%
EPS 5Y
EPS growth Q2Q
EPS Next Y-25.31%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)-11.6%
Revenue growth 3Y-5.2%
Revenue growth 5Y
Revenue growth Q2Q
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
Revenue Next 5Y
EBIT growth 1Y
EBIT growth 3Y
EBIT growth 5Y
EBIT Next Year
EBIT Next 3Y
EBIT Next 5Y
FCF growth 1Y
FCF growth 3Y
FCF growth 5Y
OCF growth 1Y
OCF growth 3Y
OCF growth 5Y