Compass Point cut 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 price target on the financial services provider’s stock.
A number of other equities analysts have also recently issued reports on WASH. BidaskClub cut shares of Washington Trust Bancorp from a buy rating to a hold rating in a research report on Tuesday, November 19th. Zacks Investment Research cut shares of Washington Trust Bancorp from a hold rating to a strong sell rating in a research report on Saturday, October 26th. ValuEngine upgraded shares of Washington Trust Bancorp from a sell rating to a hold rating in a research report on Wednesday, October 2nd. Finally, Boenning Scattergood cut shares of Washington Trust Bancorp from an outperform rating to a neutral rating in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $54.33.
Shares of WASH opened at $52.83 on Monday. The company has a current ratio of 1.10, a quick ratio of 1.09 and a debt-to-equity ratio of 2.03. The stock has a market cap of $903.41 million, a P/E ratio of 13.44 and a beta of 0.66. The company has a 50-day moving average of $52.01 and a two-hundred day moving average of $49.87. Washington Trust Bancorp has a 12-month low of $45.21 and a 12-month high of $54.24.
Washington Trust Bancorp (NASDAQ:WASH) last announced its earnings results on Monday, October 21st. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.12. The company had revenue of $51.32 million during the quarter, compared to analysts’ expectations of $50.50 million. Washington Trust Bancorp had a net margin of 26.76% and a return on equity of 14.84%. As a group, analysts forecast that Washington Trust Bancorp will post 4.02 EPS for the current fiscal year.
In related 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 value 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 the SEC website. 2.18% of the stock is currently 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. lifted its position in shares of 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 purchasing an additional 6,372 shares in the last quarter. Wedge Capital Management L L P NC acquired a new position in shares of Washington Trust Bancorp during the second quarter worth $201,000. Envestnet Asset Management Inc. lifted its position in shares of 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 purchasing an additional 816 shares in the last quarter. Finally, Swiss National Bank lifted its position in shares of 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 purchasing an additional 700 shares in the last quarter. 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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