Company profile

Ticker
WASH
Exchange
CEO
Edward O. Handy
Employees
Incorporated in
Location
Fiscal year end
Industry (SEC)
SEC CIK
IRS number
50404671

WASH stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

7 May 20
9 Jul 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Mar 20 Dec 19 Sep 19 Jun 19
Revenue 52.53M 48.61M 51.32M 50.61M
Net income 11.9M 15.54M 18.81M 17.27M
Diluted EPS 0.68 0.89 1.08 0.99
Net profit margin 22.66% 31.96% 36.66% 34.13%
Net change in cash 46.81M -7.65M 26.29M 28.26M
Cash on hand 185.27M 138.46M 146.1M 119.81M
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue 200.49M 194.4M 184.34M 175.61M
Net income 69.12M 68.43M 45.93M 46.48M
Diluted EPS 3.96 3.93 2.64 2.7
Net profit margin 34.47% 35.20% 24.91% 26.47%
Net change in cash 44.98M 10.55M -24.87M 10.17M
Cash on hand 138.46M 93.48M 82.92M 107.8M

Financial data from company earnings reports

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
1 Jun 20 Wray William K. Sr. Common Stock Payment of exercise Dispose F No 31.66 655 20.74K 5,299
20 May 20 Gim Mark K W Common Stock Payment of exercise Dispose F No 28.67 3,221 92.35K 23,666.872
20 May 20 Gim Mark K W Common Stock Option exercise Aquire M No 17.52 4,100 71.83K 26,887.872
20 May 20 Gim Mark K W Stock Options Common Stock Option exercise Dispose M No 17.52 4,100 71.83K 0
28 Apr 20 MarcAurele Joseph J Common Stock Grant Aquire A No 0 860 0 65,214
28 Apr 20 Santos Edwin J Common Stock Grant Aquire A No 0 860 0 5,510
72.0% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 118 125 -5.6%
Opened positions 13 19 -31.6%
Closed positions 20 17 +17.6%
Increased positions 37 46 -19.6%
Reduced positions 38 28 +35.7%
13F shares
Current Prev Q Change
Total value 2.37B 3.05B -22.3%
Total shares 12.43M 12.64M -1.6%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
BK Bank Of New York Mellon 1.87M $68.3M -10.2%
BLK BlackRock 1.2M $43.82M +2.9%
PFG Principal Financial 1.01M $37.02M -6.2%
Champlain Investment Partners 861.39K $31.49M +0.7%
WASHINGTON TRUST 814.53K $29.78M -0.4%
BEN Franklin Resources 808.25K $29.55M +2.1%
Vanguard 783.47K $28.64M +3.8%
Dimensional Fund Advisors 727.36K $26.59M +1.4%
Renaissance Technologies 472.4K $17.27M -3.5%
JPM JPMorgan Chase & Co. 372.08K $13.6M +25.7%
Largest transactions
Shares Bought/sold Change
BK Bank Of New York Mellon 1.87M -211.08K -10.2%
Norges Bank 0 -185.55K EXIT
Drexel Morgan & Co. 116.12K +116.12K NEW
JPM JPMorgan Chase & Co. 372.08K +76.08K +25.7%
PFG Principal Financial 1.01M -66.8K -6.2%
Millennium Management 53.18K +53.18K NEW
BLK BlackRock 1.2M +33.4K +2.9%
Systematic Financial Management 170.33K -32.09K -15.9%
Manufacturers Life Insurance Company, The 346.42K -30.51K -8.1%
Vanguard 783.47K +28.52K +3.8%

Financial report summary

?
Risks
  • The COVID-19 pandemic, and the measures taken to control its spread, will continue to adversely impact our employees, customers, business operations and financial results, and the ultimate impact will depend on future developments, which are highly uncertain and cannot be predicted.
  • Our participation in the SBA’s PPP may expose us to reputational harm, increased litigation risk, as well as the risk that the SBA may not fund some or all of the guarantees associated with PPP loans.
Management Discussion
  • Net income totaled $11.9 million for the three months ended March 31, 2020, compared to $17.5 million for the same period in 2019. Income before taxes for the three months ended decreased by $7.3 million, or 33%, from the same period in 2019. Our results for the first quarter of 2020 reflect the adoption of the CECL accounting methodology and the impacts of the COVID-19 pandemic and lower market interest rates.
  • Net interest income continues to be the primary source of our operating income.  Net interest income for the three months ended March 31, 2020 totaled $32.6 million, compared to $34.6 million for the same period in 2019. Net interest income is affected by the level of, and changes in, interest rates, and changes in the amount and composition of interest-earning assets and interest-bearing liabilities.  Prepayment penalty income associated with loan payoffs is included in net interest income.
  • The analysis of net interest income, net interest margin and the yield on loans may be impacted by the periodic recognition of prepayment penalty income associated with loan payoffs. Prepayment penalty income associated with loan payoffs for both the three months ended March 31, 2020 and 2019 was not material. The analysis of net interest income, net interest margin and the yield on loans is also impacted by changes in the level of net amortization of premiums and discounts on securities and loans, which is included in interest income. As market interest rates decline, as they did in the latter portion of 2019 and first quarter of 2020, loan prepayments and the receipt of payments on mortgage-backed securities generally increase. This results in accelerated levels of amortization reducing net interest income and may also result in the proceeds having to be reinvested at a lower rate than the loan or mortgage-backed security being prepaid. As noted in the Unaudited Consolidated Statements of Cash Flows, net amortization of premiums and discounts on securities and loans amounted to $1.5 million for the three months ended March 31, 2020, up by $697 thousand from the same period in 2019.
Content analysis ?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Bad
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