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what it is
Washington Trust is a small New England bank that takes deposits, makes loans, and sells wealth management services.
how it gets paid
Last year Washington Trst Bncp made $58M in revenue.
why it's growing
Revenue grew 19.7% last year. The 2.56% net interest margin mattered most because it shows the core banking spread is improving after a rough 2024.
what just happened
Revenue reached $45M, up 251% vs. prior year, while EPS climbed to $1.88.
At a glance
C++ balance sheet — some cracks in the foundation
20/100 earnings predictability — expect surprises
11.6x trailing p/e — the market's not buying it — or you found a deal
7.0% dividend yield — cash in your pocket every quarter
-$1.63 fy2024 eps est
xvary composite: 46/100 — below average
What they do
Washington Trust is a small New England bank that takes deposits, makes loans, and sells wealth management services.
This bank has been around since 1800, and it still runs 27 branches across Rhode Island, eastern Massachusetts, and Connecticut. That local footprint matters because your checking account, mortgage, and trust account often live in the same place. A bank with $6.7 billion in assets can feel small on Wall Street and still feel deeply embedded on your street.
How they make money
$58M
annual revenue · their business grew +19.7% last year
total revenue
$58M
+19.7%
The products that matter
business lending and deposits
Commercial Banking
$6.7B asset base
This sits at the core of the $6.7B balance sheet, and management added a new Northeast team in January 2026 to chase more commercial relationships.
core engine
investment and advisory services
Wealth Management
5 hires added
Five experts were added in December 2025 to grow assets under management. That matters because fee revenue is less hostage to the 2.56% net interest margin.
fee revenue
mortgage origination
Residential Lending
2.56% margin sensitivity
Residential lending is where rate sensitivity shows up fast. Management tied the latest quarter directly to a 2.56% net interest margin, so mortgage economics still matter.
rate exposed
Key numbers
7.0%
dividend yield
Dividend yield → annual cash paid on your stock price → so what: 7.0% is eye-catching, but it matters less if profits do not support it.
$1.1B
long-term debt
Long-term debt → money owed for years → so what: $1.1B equals 65% of capital, so higher funding costs can squeeze shareholder returns.
$1.63
FY2024 EPS
Earnings per share → profit for each share → so what: the bank lost money in 2024 after earning $2.82 in 2023, which is a hard swing to ignore.
11.6x
trailing P/E
P/E → price versus past profit → so what: 11.6x looks cheap against the market, but cheap stocks stay cheap when earnings credibility breaks.
Financial health
C++
strength
- balance sheet grade C++ — below average — limited financial resources
- risk rank 3 — safer than 50% of stocks
- price stability 60 / 100
- long-term debt $1.1B (65% of capital)
C++ — balance sheet grade and long-term debt are flagged. this stock carries more risk than average.
Total return vs. market
Return history isn't available for WASH right now.
source: institutional data · return history unavailable
What just happened
beat estimates
Revenue reached $45M, up 251% vs. prior year, while EPS climbed to $1.88.
The latest quarter looked much better than the 2024 annual loss suggests. Net interest margin improved to 2.56%, which means the bank kept more of the spread between what it earns and what it pays.
$45M
revenue
$1.88
eps
2.56%
net interest margin
the number that mattered
The 2.56% net interest margin mattered most because it shows the core banking spread is improving after a rough 2024.
source: company earnings report, 2026
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What could go wrong
the #1 risk is net interest margin compression at a highly spread-dependent regional bank.
high
net interest margin compression
Management highlighted the 2.56% net interest margin because it improved 16 basis points from last quarter. That is good news. It also tells you how sensitive the business is to funding costs and loan pricing.
With 79.3% of the revenue mix shown here coming from net interest income, a weaker spread hits the core engine first.
high
dividend strain versus earnings
A 7.0% dividend yield looks generous. Put it next to a negative $1.63 full-year EPS estimate and the question becomes obvious: how durable is the payout if earnings do not normalize?
Income is the reason many people own regional banks. If the dividend comes into question, the valuation floor usually does too.
med
balance sheet pressure
The balance sheet grade is C++, and long-term debt stands at $1.1B, or 65% of capital. That does not mean distress is imminent. It does mean the bank has less room to absorb mistakes than stronger peers.
You are not buying a fortress balance sheet here. You are buying a bank that needs steady execution.
med
cybersecurity and operational risk
A February 2026 filing flagged phishing and hacking as material operational threats. For a regional bank, trust is the product as much as deposits are.
A meaningful breach would pressure costs, customer confidence, and management attention all at once.
The risk stack is concentrated, not diversified: 79.3% of the revenue mix shown here comes from net interest income, while the 7.0% yield and C++ balance sheet leave less margin for disappointment.
source: institutional data · regulatory filings · risk analysis
Pay attention to
key metric
net interest margin
It improved to 2.56% in Q4 2025. If that starts moving backward, the earnings beat will age badly fast.
earnings
next quarterly report
The next print needs to show whether the 16-basis-point margin improvement was a trend or just a cleaner quarter.
business mix
wealth management traction
Five hires were added in December 2025. You want to see non-interest income become more than the current 20.7% of the mix shown here.
income risk
dividend durability
A 7.0% yield is attractive until it becomes the only reason to own the stock. Watch payout commentary closely if earnings stay weak.
Analyst rankings
earnings predictability
20 / 100
Low score. In human-speak: analysts do not trust this bank to produce clean, repeatable earnings quarter after quarter.
risk rank
3
Middle-of-the-pack safety. Not a disaster, not a bunker stock.
xvary composite
46 / 100
Below average overall. The stock needs cleaner earnings and a stronger balance sheet to move out of the penalty box.
source: institutional data
Institutional activity
institutional ownership data for WASH is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$30
current price
n/a
target midpoint · n/a from current
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