Keefe, Bruyette & Woods Comments On Washington Trust Bancorp Postive Results

According to Keefe, Bruyette & Woods, Washington Trust Bancorp WASH saw positive quarterly results. Keefe, Bruyette & Woods said that earnings of $0.42/sh by WASH were better than expected as the bank's bottom linked benefited from stronger spread income and expense control. “Working to offset this was lower fee income driven by a drop in mortgage banking revenues. With a higher run rate on the margin and continued steady loan pipeline, we raise estimates and our target. Maintain Market Perform rating.” Washington Trust Bancorp closed yesterday at $22.24.