Washington Trust Bancorp (NASDAQ:WASH) Director Edwin Santos Sells 1,200 Shares of Stock

Washington Trust Bancorp, Inc. (NASDAQ:WASH) Director Edwin Santos sold 1,200 shares of the stock in a transaction on Monday, October 26th. The shares were sold at an average price of $39.25, for a total value of $47,100.00. Following the completion of the sale, the director owned 9,110 shares of the company’s stock, valued at $357,567.50. The trade was a 11.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Washington Trust Bancorp Stock Down 0.6%

Shares of WASH stock traded down $0.23 on Wednesday, reaching $38.89. 53,618 shares of the company’s stock traded hands, compared to its average volume of 162,866. Washington Trust Bancorp, Inc. has a 12-month low of $26.52 and a 12-month high of $40.54. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market capitalization of $741.77 million, a P/E ratio of 11.71, a price-to-earnings-growth ratio of 0.83 and a beta of 0.73. The business’s 50 day moving average price is $38.77 and its two-hundred day moving average price is $35.47.

Washington Trust Bancorp (NASDAQ:WASH) last posted its quarterly earnings results on Monday, October 19th. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.14. The firm had revenue of $64.96 million for the quarter, compared to analyst estimates of $62.62 million. Washington Trust Bancorp had a return on equity of 11.67% and a net margin of 16.73%. On average, equities analysts forecast that Washington Trust Bancorp, Inc. will post 3.26 earnings per share for the current year.

Washington Trust Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Thursday, October 1st were paid a $0.56 dividend. The ex-dividend date of this dividend was Thursday, October 1st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.8%. Washington Trust Bancorp’s dividend payout ratio is 67.27%.

Institutional Investors Weigh In On Washington Trust Bancorp

Hedge funds have recently modified their holdings of the business. BlackRock Inc. bought a new position in Washington Trust Bancorp during the second quarter worth $81,558,000. The Manufacturers Life Insurance Company bought a new position in shares of Washington Trust Bancorp during the 2nd quarter worth about $10,556,000. First Horizon Corp bought a new position in shares of Washington Trust Bancorp during the 1st quarter worth about $9,912,000. Basswood Capital Management L.L.C. acquired a new position in shares of Washington Trust Bancorp during the second quarter valued at about $6,712,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Washington Trust Bancorp during the second quarter valued at about $5,466,000. 65.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on WASH. Wall Street Zen raised Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Keefe, Bruyette & Woods boosted their price target on Washington Trust Bancorp from $36.00 to $39.00 and gave the company a “market perform” rating in a research note on Wednesday, October 21st. Seaport Research Partners downgraded Washington Trust Bancorp from a “buy” rating to a “neutral” rating in a report on Wednesday, July 22nd. Zacks Research raised shares of Washington Trust Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 19th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Washington Trust Bancorp in a research report on Wednesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Washington Trust Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

Washington Trust Bancorp Company Profile

Washington Trust Bancorp, Inc is the holding company for The Washington Trust Company, a community-focused financial institution headquartered in Westerly, Rhode Island. Founded in 1800, Washington Trust is one of the oldest continuously operating banks in the United States.

The company provides commercial, small-business, residential mortgage and consumer banking services. Its offerings include deposit accounts, commercial and consumer loans, residential mortgages, cash-management services, online and mobile banking, and other financial services for individuals, families and businesses.

Washington Trust also operates a wealth-management business that provides investment management, financial planning, trust administration, estate planning and related services.