Washington Trust Bancorp, Inc. (NASDAQ:WASH) has been assigned a consensus broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating. Washington Trust Bancorp’s rating score has declined by 50% from 90 days ago as a result of various analysts’ upgrades and downgrades.
Brokers have set a 1 year consensus price objective of $61.00 for the company, according to Zacks. Zacks has also given Washington Trust Bancorp an industry rank of 105 out of 265 based on the ratings given to related companies.
Several research analysts recently commented on the stock. BidaskClub lowered shares of Washington Trust Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Compass Point lowered shares of Washington Trust Bancorp from a “buy” rating to a “neutral” rating in a report on Tuesday.
Shares of Washington Trust Bancorp (WASH) traded up 2.30% during midday trading on Wednesday, reaching $55.65. 75,408 shares of the company traded hands. The company’s 50 day moving average is $55.24 and its 200-day moving average is $51.80. The stock has a market capitalization of $957.74 million, a price-to-earnings ratio of 19.46 and a beta of 0.75. Washington Trust Bancorp has a 12 month low of $44.10 and a 12 month high of $59.10.
Washington Trust Bancorp (NASDAQ:WASH) last posted its quarterly earnings results on Monday, October 23rd. The financial services provider reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.01. Washington Trust Bancorp had a net margin of 23.63% and a return on equity of 12.56%. The firm had revenue of $47.34 million for the quarter. Equities research analysts forecast that Washington Trust Bancorp will post $2.93 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Monday, October 2nd were issued a $0.39 dividend. This is a positive change from Washington Trust Bancorp’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Friday, September 29th. This represents a $1.56 annualized dividend and a yield of 2.80%. Washington Trust Bancorp’s dividend payout ratio (DPR) is presently 53.98%.
In other news, Chairman Joseph J. Marcaurele sold 5,000 shares of Washington Trust Bancorp stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $52.80, for a total transaction of $264,000.00. Following the sale, the chairman now owns 57,583 shares in the company, valued at $3,040,382.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 5,205 shares of company stock worth $274,607 in the last 90 days. 2.58% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Aperio Group LLC purchased a new stake in shares of Washington Trust Bancorp during the third quarter valued at approximately $228,000. New England Research & Management Inc. raised its stake in shares of Washington Trust Bancorp by 1.4% during the third quarter. New England Research & Management Inc. now owns 73,859 shares of the financial services provider’s stock valued at $4,228,000 after purchasing an additional 1,050 shares during the period. Eqis Capital Management Inc. purchased a new stake in shares of Washington Trust Bancorp during the third quarter valued at approximately $213,000. Susquehanna International Group LLP purchased a new stake in shares of Washington Trust Bancorp during the second quarter valued at approximately $202,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Washington Trust Bancorp by 1,825.7% during the second quarter. Tower Research Capital LLC TRC now owns 2,696 shares of the financial services provider’s stock valued at $139,000 after purchasing an additional 2,556 shares during the period. Institutional investors own 55.30% of the company’s stock.
Washington Trust Bancorp Company Profile
Washington Trust Bancorp, Inc is a bank holding company and financial holding company. The Company is a holding company of The Washington Trust Company, of Westerly (the Bank), a Rhode Island chartered commercial bank. The Company operates through two business segments: Commercial Banking and Wealth Management Services.
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