The upcoming report from Washington Trust Bancorp (WASH) is expected to reveal quarterly earnings of $0.87 per share, indicating an increase of 55.4% compared to the year-ago period. Analysts forecast revenues of $61.97 million, representing an increase of 9.7% year over year.
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.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
In light of this perspective, let's dive into the average estimates of certain Washington Trust metrics that are commonly tracked and forecasted by Wall Street analysts.
Analysts forecast 'Efficiency Ratio' to reach 63.6%. Compared to the current estimate, the company reported 63.3% in the same quarter of the previous year.
Analysts predict that the 'Total noninterest income' will reach $18.73 million. Compared to the present estimate, the company reported $17.64 million in the same quarter last year.
Analysts expect 'Net Interest Income' to come in at $43.24 million. Compared to the current estimate, the company reported $38.83 million in the same quarter of the previous year.
View all Key Company Metrics for Washington Trust here>>>Shares of Washington Trust have demonstrated returns of -7.6% over the past month compared to the Zacks S&P 500 composite's +2.1% change. With a Zacks Rank #2 (Buy), WASH is expected to beat the overall market performance 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).