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Washington Trust: 3Q Earnings Snapshot

·1 min read

WESTERLY, R.I. (AP) _ Washington Trust Bancorp Inc. (WASH) on Monday reported third-quarter net income of $18.3 million.

The Westerly, Rhode Island-based bank said it had earnings of $1.06 per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.03 per share.

The holding company for The Washington Trust Co. posted revenue of $66.3 million in the period. Its revenue net of interest expense was $57.1 million, which also beat Street forecasts.

Washington Trust shares have dropped 39% since the beginning of the year. In the final minutes of trading on Monday, shares hit $33.04, a decrease of 32% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WASH at https://www.zacks.com/ap/WASH