Washington Trust Bancorp Inc. (WASH) EVP Mark K. W. Gim Sells 3,000 Shares of Stock
Washington Trust Bancorp Inc. (NASDAQ:WASH) EVP Mark K. W. Gim sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $51.85, for a total transaction of $155,550.00. Following the transaction, the executive vice president now owns 16,510 shares of the company’s stock, valued at approximately $856,043.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Washington Trust Bancorp Inc. (NASDAQ:WASH) traded down 0.29% on Tuesday, hitting $52.10. 3,643 shares of the stock traded hands. The stock has a market cap of $892.00 million, a price-to-earnings ratio of 19.96 and a beta of 0.60. The company’s 50 day moving average is $44.61 and its 200 day moving average is $40.60. Washington Trust Bancorp Inc. has a one year low of $34.59 and a one year high of $54.75.
Washington Trust Bancorp (NASDAQ:WASH) last released its earnings results on Monday, October 24th. The financial services provider reported $0.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.08. Washington Trust Bancorp had a return on equity of 11.68% and a net margin of 23.33%. On average, equities analysts forecast that Washington Trust Bancorp Inc. will post $2.64 EPS for the current year.
A number of equities analysts have recently weighed in on WASH shares. Compass Point raised shares of Washington Trust Bancorp from a “neutral” rating to a “buy” rating and set a $46.00 price target on the stock in a research note on Tuesday, October 25th. Keefe, Bruyette & Woods lowered shares of Washington Trust Bancorp from an “outperform” rating to a “market perform” rating and set a $41.00 price objective on the stock. in a report on Monday, October 3rd.
A number of institutional investors have recently added to or reduced their stakes in the stock. Credit Suisse AG boosted its position in Washington Trust Bancorp by 37.2% in the third quarter. Credit Suisse AG now owns 27,001 shares of the financial services provider’s stock valued at $1,086,000 after buying an additional 7,314 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in shares of Washington Trust Bancorp during the third quarter valued at about $16,815,000. Philadelphia Trust Co. raised its stake in shares of Washington Trust Bancorp by 9.4% in the third quarter. Philadelphia Trust Co. now owns 44,198 shares of the financial services provider’s stock valued at $1,778,000 after buying an additional 3,800 shares in the last quarter. KCG Holdings Inc. purchased a new stake in shares of Washington Trust Bancorp during the third quarter valued at about $418,000. Finally, Citadel Advisors LLC purchased a new stake in shares of Washington Trust Bancorp during the third quarter valued at about $252,000. 52.34% of the stock is currently owned by institutional investors.
About Washington Trust Bancorp
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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