Analysts Expect Washington Trust Bancorp (NASDAQ:WASH) to Post $1.03 EPS
Washington Trust Bancorp (NASDAQ:WASH) has been assigned an average broker rating score of 2.33 (Buy) from the three analysts that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold recommendation and one has given a strong buy recommendation to the company. Washington Trust Bancorp’s rating score has improved by 22.3% from three months ago as a result of various analysts’ upgrades and downgrades.
Brokers have set a twelve-month consensus price target of $55.00 for the company and are anticipating that the company will post $1.03 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Washington Trust Bancorp an industry rank of 165 out of 256 based on the ratings given to its competitors.
WASH has been the subject of a number of research analyst reports. ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Boenning Scattergood initiated coverage on shares of Washington Trust Bancorp in a research note on Wednesday, June 26th. They issued an “outperform” rating and a $55.00 target price for the company. BidaskClub lowered shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th. Finally, Compass Point lowered shares of Bank of Hawaii from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $83.00 to $82.00 in a research note on Monday, April 22nd.
Several institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in shares of Washington Trust Bancorp during the 1st quarter worth approximately $129,000. BNP Paribas Arbitrage SA grew its position in shares of Washington Trust Bancorp by 206.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,143 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 2,116 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its position in shares of Washington Trust Bancorp by 392.4% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 5,219 shares of the financial services provider’s stock worth $248,000 after purchasing an additional 4,159 shares in the last quarter. Citigroup Inc. grew its position in shares of Washington Trust Bancorp by 8.4% during the 4th quarter. Citigroup Inc. now owns 6,457 shares of the financial services provider’s stock worth $307,000 after purchasing an additional 503 shares in the last quarter. Finally, Legal & General Group Plc grew its position in shares of Washington Trust Bancorp by 3.5% during the 4th quarter. Legal & General Group Plc now owns 6,640 shares of the financial services provider’s stock worth $316,000 after purchasing an additional 226 shares in the last quarter. Institutional investors own 58.23% of the company’s stock.
Shares of WASH stock traded up $0.43 on Thursday, hitting $51.41. The stock had a trading volume of 14,739 shares, compared to its average volume of 31,733. Washington Trust Bancorp has a twelve month low of $45.93 and a twelve month high of $62.45. The firm has a market cap of $890.68 million, a price-to-earnings ratio of 13.08 and a beta of 0.67. The company has a debt-to-equity ratio of 2.36, a quick ratio of 1.09 and a current ratio of 1.09. The company has a fifty day simple moving average of $50.93.
Washington Trust Bancorp (NASDAQ:WASH) last announced its earnings results on Monday, April 22nd. The financial services provider reported $1.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.05. The firm had revenue of $49.95 million during the quarter. Washington Trust Bancorp had a net margin of 28.08% and a return on equity of 15.75%. Research analysts expect that Washington Trust Bancorp will post 4.11 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Monday, July 1st were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date was Friday, June 28th. Washington Trust Bancorp’s payout ratio is presently 51.91%.
Washington Trust Bancorp Company Profile
Washington Trust Bancorp, Inc operates as the bank holding company for The Washington Trust Company, of Westerly that offers various financial products and services to individuals and businesses. The company operates in two segments, Commercial Banking and Wealth Management Services. The Commercial Banking segment provides various commercial and retail lending products, which include commercial real estate loans consisting of commercial mortgages and construction loans; commercial and industrial loans; residential real estate loans; and consumer loans comprising home equity loans and lines of credit, personal installment loans, and loans to individuals secured by general aviation aircraft.
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