Washington Trust Bancorp (NASDAQ:WASH) Downgraded by Compass Point

Compass Point downgraded shares of Washington Trust Bancorp (NASDAQ:WASH) from a buy rating to a neutral rating in a research report sent to investors on Monday, The Fly reports. They currently have $53.00 target price on the financial services provider’s stock.

A number of other equities research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Washington Trust Bancorp from a hold rating to a strong sell rating in a report on Saturday, October 26th. BidaskClub downgraded shares of Washington Trust Bancorp from a buy rating to a hold rating in a report on Tuesday, November 19th. ValuEngine upgraded shares of Washington Trust Bancorp from a sell rating to a hold rating in a report on Wednesday, October 2nd. Finally, Boenning Scattergood downgraded shares of Washington Trust Bancorp from an outperform rating to a neutral rating in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock has an average rating of Hold and an average target price of $54.33.

Washington Trust Bancorp stock opened at $51.64 on Monday. Washington Trust Bancorp has a 1 year low of $45.21 and a 1 year high of $54.24. The firm has a 50 day moving average price of $51.98 and a 200 day moving average price of $49.86. The company has a market cap of $896.11 million, a price-to-earnings ratio of 13.14 and a beta of 0.66. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.09 and a current ratio of 1.10.

Washington Trust Bancorp (NASDAQ:WASH) last released its earnings results on Monday, October 21st. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.12. Washington Trust Bancorp had a net margin of 26.76% and a return on equity of 14.84%. The firm had revenue of $51.32 million during the quarter, compared to the consensus estimate of $50.50 million. Sell-side analysts predict that Washington Trust Bancorp will post 4.02 EPS for the current year.

In other Washington Trust Bancorp news, Director Katherine W. Hoxsie sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $52.55, for a total transaction of $105,100.00. Following the completion of the sale, the director now directly owns 26,012 shares in the company, valued at $1,366,930.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.18% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WASH. Aperio Group LLC grew its stake in Washington Trust Bancorp by 9.9% during the second quarter. Aperio Group LLC now owns 4,795 shares of the financial services provider’s stock worth $250,000 after buying an additional 432 shares during the period. Advisor Group Inc. grew its stake in Washington Trust Bancorp by 465.8% during the second quarter. Advisor Group Inc. now owns 7,740 shares of the financial services provider’s stock worth $403,000 after buying an additional 6,372 shares during the period. Wedge Capital Management L L P NC purchased a new stake in Washington Trust Bancorp during the second quarter worth approximately $201,000. Envestnet Asset Management Inc. grew its stake in Washington Trust Bancorp by 15.2% during the second quarter. Envestnet Asset Management Inc. now owns 6,197 shares of the financial services provider’s stock worth $323,000 after buying an additional 816 shares during the period. Finally, Swiss National Bank grew its stake in Washington Trust Bancorp by 2.5% during the second quarter. Swiss National Bank now owns 29,000 shares of the financial services provider’s stock worth $1,513,000 after buying an additional 700 shares during the period. Institutional investors own 58.31% of the company’s stock.

Washington Trust Bancorp Company Profile

Washington Trust Bancorp, Inc operates as the bank holding company for The Washington Trust Company, of Westerly that offers various financial products and services to individuals and businesses. The company operates in two segments, Commercial Banking and Wealth Management Services. The Commercial Banking segment provides various commercial and retail lending products, which include commercial real estate loans consisting of commercial mortgages and construction loans; commercial and industrial loans; residential real estate loans; and consumer loans comprising home equity loans and lines of credit, personal installment loans, and loans to individuals secured by general aviation aircraft.

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