Shares of Washington Trust Bancorp (NASDAQ:WASH) have received a consensus broker rating score of 2.33 (Buy) from the three analysts that provide coverage for the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. Washington Trust Bancorp’s rating score has improved by 22.3% from 90 days ago as a result of a number of analysts’ ratings changes.
Brokerages have set a 12 month consensus price objective of $53.00 for the company and are expecting that the company will post $0.96 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Washington Trust Bancorp an industry rank of 184 out of 256 based on the ratings given to its competitors.
Several research analysts have issued reports on WASH shares. Compass Point upgraded Washington Trust Bancorp from a “neutral” rating to a “buy” rating in a research note on Monday, April 22nd. Boenning Scattergood started coverage on Washington Trust Bancorp in a research note on Wednesday, June 26th. They set an “outperform” rating and a $55.00 price objective for the company. BidaskClub lowered Washington Trust Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, July 11th. Finally, ValuEngine lowered Washington Trust Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd.
Washington Trust Bancorp stock traded down $0.09 during mid-day trading on Friday, hitting $48.44. 32,021 shares of the company were exchanged, compared to its average volume of 29,755. The company has a debt-to-equity ratio of 2.36, a current ratio of 1.09 and a quick ratio of 1.09. The business has a fifty day moving average of $50.99. Washington Trust Bancorp has a 1-year low of $45.93 and a 1-year high of $61.00. The company has a market capitalization of $870.22 million, a P/E ratio of 12.33 and a beta of 0.65.
Washington Trust Bancorp (NASDAQ:WASH) last released its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.04). Washington Trust Bancorp had a return on equity of 15.42% and a net margin of 27.03%. The company had revenue of $50.61 million for the quarter, compared to analyst estimates of $50.90 million. Research analysts anticipate that Washington Trust Bancorp will post 3.87 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Monday, July 1st were paid a $0.51 dividend. The ex-dividend date was Friday, June 28th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.21%. Washington Trust Bancorp’s dividend payout ratio (DPR) is presently 51.91%.
In other Washington Trust Bancorp news, Director John T. Ruggieri bought 500 shares of the stock in a transaction dated Tuesday, May 7th. The stock was bought at an average cost of $53.00 per share, for a total transaction of $26,500.00. Following the completion of the purchase, the director now owns 1,090 shares in the company, valued at approximately $57,770. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edwin J. Santos sold 600 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $52.95, for a total value of $31,770.00. Following the completion of the sale, the director now owns 4,650 shares of the company’s stock, valued at $246,217.50. The disclosure for this sale can be found here. Company insiders own 2.18% of the company’s stock.
Large investors have recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in Washington Trust Bancorp in the first quarter valued at about $129,000. BNP Paribas Arbitrage SA boosted its holdings in Washington Trust Bancorp by 206.0% in the first quarter. BNP Paribas Arbitrage SA now owns 3,143 shares of the financial services provider’s stock valued at $151,000 after acquiring an additional 2,116 shares during the last quarter. Wedge Capital Management L L P NC bought a new position in Washington Trust Bancorp in the second quarter valued at about $201,000. Metropolitan Life Insurance Co. NY boosted its holdings in Washington Trust Bancorp by 392.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 5,219 shares of the financial services provider’s stock valued at $248,000 after acquiring an additional 4,159 shares during the last quarter. Finally, Aperio Group LLC boosted its holdings in Washington Trust Bancorp by 9.9% in the second quarter. Aperio Group LLC now owns 4,795 shares of the financial services provider’s stock valued at $250,000 after acquiring an additional 432 shares during the last quarter. Institutional investors own 58.22% of the company’s stock.
About Washington Trust Bancorp
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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