Overview * Washington Trust Q3 net income falls to $10.8 mln, EPS at $0.56 * Net interest income for Q3 rises 4% from previous quarter * Company increases provision for credit losses to $7 mln in Q3 Outlook * Company expects full-year 2025 effective tax rate to be approximately 22.5% Result Drivers * NET INTEREST INCOME – Co expanded net interest income and margin, driven by increased average interest-earning assets and decreased cost of interest-bearing liabilities * WEALTH MANAGEMENT & MORTGAGE BANKING – Co saw growth in wealth management and mortgage banking revenues, attributed to asset appreciation and increased loan sales * STRATEGIC INVESTMENTS – Co made strategic investments, including hiring a new executive and acquiring client accounts, adding managed assets Key Details Metric Beat/Mis Actual Consensu s s Estimate Q3 EPS $0.56 Q3 Net $10.84 Income mln Q3 Net $38.83 Interest mln Income Q3 $6.80 Credit mln Loss Provisio n Q3 $13.94 Pretax mln Profit Analyst Coverage * The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell" * The average consensus recommendation for the banks peer group is "buy." * Wall Street's median 12-month price target for Washington Trust Bancorp Inc is $29.00, about 10.9% above its October 17 closing price of $25.85 * The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 10 three months ago Press Release: For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact . (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
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