Washington Trust Bancorp Inc. (WASH) Stock Rating Lowered by Compass Point
Washington Trust Bancorp Inc. (NASDAQ:WASH) was downgraded by research analysts at Compass Point from a “buy” rating to a “neutral” rating in a research report issued on Friday.
Separately, Keefe, Bruyette & Woods downgraded 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 research note on Monday, October 3rd.
Shares of Washington Trust Bancorp (NASDAQ:WASH) opened at 52.25 on Friday. Washington Trust Bancorp has a 12-month low of $34.59 and a 12-month high of $54.75. The stock has a market cap of $894.57 million, a P/E ratio of 20.02 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 (NASDAQ:WASH) last posted its quarterly earnings data on Monday, October 24th. The financial services provider reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.08. Washington Trust Bancorp had a net margin of 23.33% and a return on equity of 11.68%. On average, analysts expect that Washington Trust Bancorp will post $2.64 earnings per share for the current fiscal year.
In other news, Director Victor J. Orsinger II sold 1,000 shares of the firm’s stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $51.98, for a total value of $51,980.00. Following the transaction, the director now directly owns 2,130 shares in the company, valued at approximately $110,717.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark K. W. Gim sold 3,000 shares of the firm’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $51.85, for a total transaction of $155,550.00. Following the completion of the transaction, the executive vice president now owns 16,510 shares in the company, valued at $856,043.50. The disclosure for this sale can be found here. 2.58% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of WASH. CWM LLC increased its position 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 worth $125,000 after buying an additional 3,000 shares during the last quarter. BlackRock Inc. increased its position 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 worth $150,000 after buying an additional 2,853 shares during the last quarter. SG Americas Securities LLC acquired a new position in Washington Trust Bancorp during the third quarter worth about $155,000. Citadel Advisors LLC acquired a new position in Washington Trust Bancorp during the third quarter worth about $252,000. Finally, BlackRock Advisors LLC increased its position 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 worth $289,000 after buying an additional 626 shares during the last quarter. Institutional investors own 52.34% of the company’s stock.
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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