Washington Trust Bancorp (WASH) Lifted to “Hold” at BidaskClub

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

Separately, Compass Point cut Washington Trust Bancorp from a buy rating to a neutral rating in a report on Tuesday, October 24th.

Shares of Washington Trust Bancorp (NASDAQ:WASH) opened at $52.10 on Monday. Washington Trust Bancorp has a 1 year low of $47.00 and a 1 year high of $59.10. The company has a debt-to-equity ratio of 2.02, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market capitalization of $906.14, a P/E ratio of 19.66 and a beta of 0.75.

Washington Trust Bancorp (NASDAQ:WASH) last posted its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.07. Washington Trust Bancorp had a return on equity of 12.82% and a net margin of 21.38%. The company had revenue of $47.10 million during the quarter.

The firm also recently declared a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Tuesday, January 2nd were issued a $0.39 dividend. The ex-dividend date of this dividend was Friday, December 29th. This represents a $1.56 annualized dividend and a dividend yield of 2.99%. Washington Trust Bancorp’s dividend payout ratio is currently 58.87%.

In other news, EVP James M. Hagerty sold 900 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 7,609 shares of the company’s stock, valued at approximately $405,787.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John F. Treanor sold 5,500 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $55.94, for a total value of $307,670.00. The disclosure for this sale can be found here. 2.58% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in shares of Washington Trust Bancorp in the 3rd quarter valued at approximately $128,000. Tower Research Capital LLC TRC lifted its holdings in shares of Washington Trust Bancorp by 1,825.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,696 shares of the financial services provider’s stock valued at $139,000 after buying an additional 2,556 shares during the period. Susquehanna International Group LLP acquired a new stake in shares of Washington Trust Bancorp in the 2nd quarter valued at approximately $202,000. Eqis Capital Management Inc. acquired a new stake in shares of Washington Trust Bancorp in the 3rd quarter valued at approximately $213,000. Finally, Aperio Group LLC acquired a new stake in shares of Washington Trust Bancorp in the 3rd quarter valued at approximately $228,000. 54.98% of the stock is 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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