Washington Trust Bancorp Inc. (NASDAQ:WASH) has been given an average broker rating score of 2.50 (Hold) from the two brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. Washington Trust Bancorp’s rating score has declined by 25% from 90 days ago as a result of various analysts’ upgrades and downgrades.
Analysts have set a twelve-month consensus price objective of $42.00 for the company, according to Zacks. Zacks has also assigned Washington Trust Bancorp an industry rank of 152 out of 265 based on the ratings given to related companies.
Separately, Compass Point increased their price objective on Washington Trust Bancorp from $41.00 to $43.00 and gave the stock a “buy” rating in a report on Tuesday, July 26th.
In other Washington Trust Bancorp news, Director Katherine W. Hoxsie sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $42.31, for a total transaction of $84,620.00. Following the completion of the sale, the director now owns 24,302 shares of the company’s stock, valued at $1,028,217.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.58% of the company’s stock.
A number of large investors have recently made changes to their positions in WASH. Envestnet Asset Management Inc. boosted its stake in shares of Washington Trust Bancorp by 1.8% in the first quarter. Envestnet Asset Management Inc. now owns 3,184 shares of the financial services provider’s stock worth $119,000 after buying an additional 55 shares during the last quarter. CWM LLC boosted its stake in Washington Trust Bancorp by 1,000.0% in the second quarter. CWM LLC now owns 3,300 shares of the financial services provider’s stock valued at $125,000 after buying an additional 3,000 shares in the last quarter. BlackRock Inc. boosted its stake in Washington Trust Bancorp by 260.3% in the second quarter. BlackRock Inc. now owns 3,949 shares of the financial services provider’s stock valued at $150,000 after buying an additional 2,853 shares in the last quarter. BB&T Securities LLC acquired a new stake in Washington Trust Bancorp during the first quarter valued at $216,000. Finally, BlackRock Advisors LLC boosted its stake in Washington Trust Bancorp by 8.9% in the second quarter. BlackRock Advisors LLC now owns 7,630 shares of the financial services provider’s stock valued at $289,000 after buying an additional 626 shares in the last quarter. 52.25% of the stock is owned by hedge funds and other institutional investors.
Washington Trust Bancorp (NASDAQ:WASH) traded up 0.64% on Tuesday, hitting $41.18. 19,237 shares of the stock were exchanged. Washington Trust Bancorp has a one year low of $34.59 and a one year high of $43.85. The company has a market cap of $703.40 million, a P/E ratio of 16.49 and a beta of 0.87. The company’s 50 day moving average price is $41.21 and its 200-day moving average price is $38.55.
Washington Trust Bancorp (NASDAQ:WASH) last released its quarterly earnings data on Monday, July 25th. The financial services provider reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by $0.02. Washington Trust Bancorp had a return on equity of 11.32% and a net margin of 22.85%. Equities research analysts predict that Washington Trust Bancorp will post $2.56 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Monday, October 3rd will be given a dividend of $0.37 per share. The ex-dividend date is Thursday, September 29th. This represents a $1.48 dividend on an annualized basis and a yield of 3.62%. This is a boost from Washington Trust Bancorp’s previous quarterly dividend of $0.36. Washington Trust Bancorp’s dividend payout ratio is presently 57.60%.
Washington Trust Bancorp Company Profile
Washington Trust Bancorp, Inc (Bancorp) is a bank holding and financial holding company. The Company operates through two segments: Commercial Banking and Wealth Management Services. Its Commercial Banking segment includes commercial, residential and consumer lending activities; equity in losses of unconsolidated investments in real estate limited partnerships, mortgage banking, secondary market and loan servicing activities; deposit generation; merchant credit card services; cash management activities, and direct banking activities, which include the operation of automated teller machines (ATMs), telephone and Internet banking services, and customer support and sales.
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