Crispr Therapeutics shares tumble after significant earnings miss
Kathleen Ryan, Executive Vice President and Chief Wealth Management Officer at Washington Trust Bancorp Inc. (NASDAQ:WASH), has recently sold 544 shares of the company’s common stock. The shares were sold at an average price of $27.652 each, totaling approximately $15,042. The transaction occurred as WASH trades near $28, with InvestingPro analysis indicating the stock is currently fairly valued. The regional bank, with a market capitalization of ~$540 million, offers an attractive dividend yield of 8.09% and has maintained dividend payments for 42 consecutive years. Following this transaction, Ryan maintains direct ownership of 8,885 shares. Additionally, as a trustee, she holds 4,362 shares indirectly in the Kathleen Ryan Declaration of Trust. InvestingPro analysis reveals several additional insights about WASH’s financial health and future prospects. Subscribers can access 6 more exclusive ProTips and a comprehensive Pro Research Report, providing deeper analysis of this regional banking stock’s potential.
In other recent news, Washington Trust Bancorp reported its financial results for the first quarter of 2025, revealing a slight miss on earnings per share (EPS) compared to forecasts. The company posted an EPS of $0.61, falling short of the anticipated $0.64, but revenue exceeded expectations, reaching $59.07 million against a forecast of $50.2 million. This mixed performance was bolstered by an 11% increase in net interest income compared to the previous quarter. Washington Trust also announced the launch of a new stock repurchase program, authorizing the buyback of up to 850,000 shares, approximately 4.4% of its current outstanding common stock, beginning May 15, 2025. Keefe, Bruyette & Woods maintained their Market Perform rating on the bank, noting the potential for increased repurchase activity due to the bank’s improved financial position. BofA Securities initiated coverage on Washington Trust with a Neutral rating and a price target of $28.00, highlighting both the potential long-term benefits of a lower rate environment and immediate challenges to earnings. Additionally, shareholders elected three directors and ratified an independent auditor at the company’s annual meeting. These developments reflect ongoing strategic maneuvers by Washington Trust to enhance shareholder value and navigate current financial challenges.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.