Washington Trust Bancorp (WASH) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of Washington Trust Bancorp (NASDAQ:WASH) from a sell rating to a hold rating in a research report sent to investors on Monday.

Separately, Compass Point raised Washington Trust Bancorp from a neutral rating to a buy rating in a research report on Monday, December 18th.

Washington Trust Bancorp (NASDAQ WASH) opened at $52.75 on Monday. The stock has a market capitalization of $902.70, a P/E ratio of 19.91 and a beta of 0.75. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.02. Washington Trust Bancorp has a 1 year low of $47.00 and a 1 year high of $59.10.

Washington Trust Bancorp (NASDAQ:WASH) last announced its earnings results on Tuesday, January 30th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.07. The company had revenue of $47.10 million for the quarter. Washington Trust Bancorp had a return on equity of 12.82% and a net margin of 21.38%.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Tuesday, January 2nd were given a $0.39 dividend. The ex-dividend date of this dividend was Friday, December 29th. This represents a $1.56 annualized dividend and a yield of 2.96%. Washington Trust Bancorp’s dividend payout ratio is currently 58.87%.

In other Washington Trust Bancorp news, Director John F. Treanor sold 5,500 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $55.94, for a total value of $307,670.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP James M. Hagerty sold 900 shares of the business’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $53.33, for a total value of $47,997.00. Following the completion of the transaction, the executive vice president now directly owns 7,609 shares in the company, valued at approximately $405,787.97. The disclosure for this sale can be found here. In the last three months, insiders sold 7,400 shares of company stock worth $408,897. Insiders own 2.58% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Wells Fargo & Company MN boosted its position in Washington Trust Bancorp by 1.0% in the second quarter. Wells Fargo & Company MN now owns 17,710 shares of the financial services provider’s stock worth $914,000 after purchasing an additional 175 shares during the last quarter. California Public Employees Retirement System boosted its position in Washington Trust Bancorp by 1.0% in the second quarter. California Public Employees Retirement System now owns 20,900 shares of the financial services provider’s stock worth $1,077,000 after purchasing an additional 200 shares during the last quarter. Voya Investment Management LLC boosted its position in Washington Trust Bancorp by 5.6% in the second quarter. Voya Investment Management LLC now owns 10,543 shares of the financial services provider’s stock worth $543,000 after purchasing an additional 562 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in Washington Trust Bancorp by 1.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 67,507 shares of the financial services provider’s stock worth $3,480,000 after purchasing an additional 764 shares during the last quarter. Finally, New England Research & Management Inc. boosted its position in Washington Trust Bancorp by 1.4% in the third quarter. New England Research & Management Inc. now owns 73,859 shares of the financial services provider’s stock worth $4,228,000 after purchasing an additional 1,050 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

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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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