Washington Trust Bancorp
WASH on Nasdaq. Washington Trust sells banking and wealth services to people and businesses in New England. Market value $727m.
Price checks use the past 12 months to June 2026. Some use the latest annual report instead, as marked. Quality checks use five annual reports, the latest for the year to December 2025.
We can't read total debt from the filing, so debt is left out.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Financial services stocks that passed both tests
This is not advice. Check the numbers below.
Yearly profit per dollar of owners' money: 10 cents. Above 10 is good.
What you pay for each dollar of net assets: $1.32.
Profit per $100 you pay: $7.60.
Quality score: 51 of 100. Price score: 89 of 100. Our list needs 70 on quality and 60 on price.
$38.22 a share, 51% above its 1-year low
Over the past year the price has ranged from $25.23 to $40.54.
Dividend: 5.9% a year
Paid every year for at least 5 years
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $229m | $219m | $193m | $101m | $229m |
| Operating margin | |||||
| Operating margin | n/a | n/a | n/a | n/a | n/a |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.02bn | 0.02bn | 0.02bn | 0.02bn | 0.02bn |
Health checks
- Free cash flow positiveDoesn't apply to banks and insurers
- Accounting checksDoesn't apply to banks and insurers
- DebtDoesn't apply to banks and insurers
- Revenue growth, five yearsSlow, 0.2% a year
- Buying back its own sharesNo, 11% more shares since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $60 million last quarter, up 11% on a year ago.
- Profit: $16 million, up 21% on a year ago.
- Spare cash over the past 12 months: $96 million, up from $62 million.
- 1% fewer shares than a year ago. Each share owns a bit more of the company.
- Sales grew on a year ago in 3 of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $49m |
| December 2024 | -$45m |
| March 2025 | $59m |
| June 2025 | $54m |
| September 2025 | $56m |
| December 2025 | $59m |
| March 2026 | $58m |
| June 2026 | $60m |
| Quarter to | Amount |
|---|---|
| September 2024 | $11m |
| December 2024 | -$61m |
| March 2025 | $12m |
| June 2025 | $13m |
| September 2025 | $11m |
| December 2025 | $16m |
| March 2026 | $13m |
| June 2026 | $16m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 24 February 2026
- Next quarterly (estimated, 10-Q)
- 5 November 2026
Who owns it
2 long-term investors we follow own it, up from 1 last quarter. 177 funds in all.
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Hotchkis & WileyHotchkis & Wiley team | $12m | <0.1% | Added |
| LSV Asset ManagementJosef Lakonishok | $2m | <0.1% | New |
Largest holders overall
- BlackRock$82mCut
- FMR$37m
- Vanguard Capital Management$31m
- Franklin Resources$31mAdded
- State Street$28mAdded
- Dimensional Fund Advisors LP$27mAdded
- Geode Capital Management$19mAdded
- AQR Capital Management$17mAdded
- TWO Sigma Investments, LP$17mAdded
- Hotchkis & Wiley$12mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
3 investors own more than 5%.
- BlackRock, Inc.Passive investor8.0%−4.0 ptsSince 31 March 2025
- Vanguard Capital ManagementPassive investor5.2%Since 31 March 2026
- FMR LLCPassive investorat least 5.2%−1.4 pts(filed with 1 related holder)Since 31 March 2026
- Dimensional Fund Advisors LPPassive investorSold down below 5%Since 30 June 2025
- BlackRock Portfolio Management LLCPassive investorSold down below 5%Since 30 June 2026
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
BlackRock, Inc. Passive investor | 8.0%−4.0 pts | 31 March 2025 | |
Vanguard Capital Management Passive investor | 5.2% | 31 March 2026 | |
FMR LLC Passive investor | at least 5.2%−1.4 pts (filed with 1 related holder) | 31 March 2026 | |
Dimensional Fund Advisors LP Passive investor | Sold down below 5% | 30 June 2025 | |
BlackRock Portfolio Management LLC Passive investor | Sold down below 5% | 30 June 2026 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
In the last 12 months, 3 insiders bought $1m of shares on the open market. 2 sold $27,966.
- Handy Edward O. IIIChairman and CEO, DirectorSold
- Date
- 28 July 2026
- Shares
- 1
- Price
- $38.94
- Value
- $35
- Lora Rolando AEVP Ch Ret Len Off Dir Com LenSold
- Date
- 30 April 2026
- Shares
- 885
- Price
- $31.56
- Value
- $27,931
- Handy Edward O. IIIChairman and CEO, DirectorBought
- Date
- 27 April 2026
- Shares
- 3,195
- Price
- $31.32
- Value
- $100,067
- Ohsberg Ronald S.SEVP, CFO and TreasurerBought
- Date
- 24 April 2026
- Shares
- 1,606
- Price
- $31.00
- Value
- $49,786
- Brown James CannonSEVP, Chief Comm'l Banking OffBought
- Date
- 23 April 2026
- Shares
- 32,000
- Price
- $31.17
- Value
- $997,468
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 28 July 2026 | Handy Edward O. III Chairman and CEO, Director | Sold | 1 | $38.94 | $35 |
| 30 April 2026 | Lora Rolando A EVP Ch Ret Len Off Dir Com Len | Sold | 885 | $31.56 | $27,931 |
| 27 April 2026 | Handy Edward O. III Chairman and CEO, Director | Bought | 3,195 | $31.32 | $100,067 |
| 24 April 2026 | Ohsberg Ronald S. SEVP, CFO and Treasurer | Bought | 1,606 | $31.00 | $49,786 |
| 23 April 2026 | Brown James Cannon SEVP, Chief Comm'l Banking Off | Bought | 32,000 | $31.17 | $997,468 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
- Sales have barely grown: 0.2% a year.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.