Washington Trust Bancorp (WASH) Upgraded at Compass Point
Washington Trust Bancorp (NASDAQ:WASH) was upgraded by analysts at Compass Point from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday.
Separately, BidaskClub downgraded shares of Washington Trust Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, December 9th.
Shares of Washington Trust Bancorp (NASDAQ WASH) opened at $54.40 on Monday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.02. The firm has a market capitalization of $936.82, a PE ratio of 18.82 and a beta of 0.75. Washington Trust Bancorp has a fifty-two week low of $47.00 and a fifty-two week high of $59.10.
In other news, EVP James M. Hagerty sold 1,100 shares of the business’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $53.21, for a total transaction of $58,531.00. Following the sale, the executive vice president now owns 7,609 shares in the company, valued at $404,874.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Dennis L. Algiere sold 950 shares of the business’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $56.60, for a total value of $53,770.00. Following the sale, the senior vice president now owns 9,783 shares in the company, valued at approximately $553,717.80. The disclosure for this sale can be found here. Insiders sold 11,451 shares of company stock valued at $633,870 over the last quarter. 2.58% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in Washington Trust Bancorp in the third quarter valued at approximately $128,000. Tower Research Capital LLC TRC boosted its position in Washington Trust Bancorp by 1,825.7% in the second quarter. Tower Research Capital LLC TRC now owns 2,696 shares of the financial services provider’s stock valued at $139,000 after buying an additional 2,556 shares during the last quarter. Susquehanna International Group LLP purchased a new stake in Washington Trust Bancorp in the second quarter valued at approximately $202,000. Boston Private Wealth LLC purchased a new stake in Washington Trust Bancorp in the second quarter valued at approximately $202,000. Finally, HM Payson & Co. purchased a new stake in Washington Trust Bancorp in the second quarter valued at approximately $203,000. Institutional investors and hedge funds own 55.09% of the company’s stock.
About Washington Trust Bancorp
Washington Trust Bancorp, Inc is a bank holding company and financial holding company. The Company is a holding company of The Washington Trust Company, of Westerly (the Bank), a Rhode Island chartered commercial bank. The Company operates through two business segments: Commercial Banking and Wealth Management Services.
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