Washington Trust Bancorp (NASDAQ:WASH) Earns Sell Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Washington Trust Bancorp (NASDAQ:WASH – Get Rating) in a research report released on Thursday. The brokerage issued a sell rating on the financial services provider’s stock.

Washington Trust Bancorp Stock Down 5.3 %

Shares of NASDAQ:WASH opened at $34.84 on Thursday. The firm has a market cap of $591.93 million, a P/E ratio of 8.48 and a beta of 0.73. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 2.21. Washington Trust Bancorp has a 12-month low of $33.70 and a 12-month high of $55.93. The business has a fifty day simple moving average of $43.25 and a 200 day simple moving average of $46.61.

Washington Trust Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 13th. Stockholders of record on Monday, April 3rd will be paid a $0.56 dividend. The ex-dividend date is Friday, March 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 6.43%. Washington Trust Bancorp’s payout ratio is presently 54.50%.

Insider Buying and Selling at Washington Trust Bancorp

In other news, Director Constance A. Howes acquired 1,250 shares of the stock in a transaction dated Wednesday, February 8th. The stock was purchased at an average cost of $44.01 per share, with a total value of $55,012.50. Following the completion of the purchase, the director now owns 3,320 shares in the company, valued at approximately $146,113.20. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.42% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of WASH. Vanguard Group Inc. increased its holdings in Washington Trust Bancorp by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 961,406 shares of the financial services provider’s stock valued at $44,687,000 after acquiring an additional 7,719 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Washington Trust Bancorp by 0.3% during the 2nd quarter. Franklin Resources Inc. now owns 953,057 shares of the financial services provider’s stock worth $46,100,000 after purchasing an additional 3,146 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Washington Trust Bancorp by 4.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 815,411 shares of the financial services provider’s stock worth $38,472,000 after purchasing an additional 35,446 shares during the period. WASHINGTON TRUST Co boosted its position in Washington Trust Bancorp by 1.4% in the 4th quarter. WASHINGTON TRUST Co now owns 692,262 shares of the financial services provider’s stock valued at $32,662,000 after buying an additional 9,698 shares during the period. Finally, State Street Corp boosted its position in Washington Trust Bancorp by 15.0% in the 1st quarter. State Street Corp now owns 515,243 shares of the financial services provider’s stock valued at $27,326,000 after buying an additional 67,339 shares during the period. Hedge funds and other institutional investors own 71.23% of the company’s stock.

About Washington Trust Bancorp

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Washington Trust Bancorp, Inc operates as a bank holding company. The firm engages in the provision of financial services, including business banking, personal banking and wealth management and trust services. It operates through the following segments: Commercial Banking and Wealth Management Services.