Washington Trust Bancorp, Inc. (NASDAQ:WASH) Receives Average Rating of “Reduce” from Analysts

Shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) have received a consensus recommendation of “Reduce” from the two research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and one has assigned a hold recommendation to the company.

Separately, Seaport Res Ptn lowered shares of Washington Trust Bancorp from a “buy” rating to a “neutral” rating in a report on Wednesday, January 31st.

Washington Trust Bancorp Trading Up 4.4 %

Shares of Washington Trust Bancorp stock opened at $27.47 on Thursday. The stock has a market capitalization of $467.81 million, a P/E ratio of 9.78 and a beta of 0.80. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 2.57. The company has a 50-day simple moving average of $26.84 and a 200 day simple moving average of $27.41. Washington Trust Bancorp has a 12-month low of $21.69 and a 12-month high of $36.67.

Washington Trust Bancorp (NASDAQ:WASH) last announced its earnings results on Wednesday, January 24th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.22. The business had revenue of $45.96 million during the quarter, compared to analysts’ expectations of $47.38 million. Washington Trust Bancorp had a net margin of 13.19% and a return on equity of 10.53%. Research analysts expect that Washington Trust Bancorp will post 1.87 earnings per share for the current fiscal year.

Washington Trust Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Monday, April 1st will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 8.15%. The ex-dividend date of this dividend is Thursday, March 28th. Washington Trust Bancorp’s dividend payout ratio is currently 79.72%.

Institutional Investors Weigh In On Washington Trust Bancorp

Hedge funds have recently added to or reduced their stakes in the stock. Captrust Financial Advisors grew its holdings in Washington Trust Bancorp by 16,450.0% during the 2nd quarter. Captrust Financial Advisors now owns 662 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 658 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Washington Trust Bancorp by 641.3% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,112 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 962 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of Washington Trust Bancorp by 27.2% in the 1st quarter. Great West Life Assurance Co. Can now owns 1,530 shares of the financial services provider’s stock valued at $84,000 after purchasing an additional 327 shares during the last quarter. Citigroup Inc. boosted its stake in shares of Washington Trust Bancorp by 31.6% in the 1st quarter. Citigroup Inc. now owns 1,953 shares of the financial services provider’s stock valued at $68,000 after purchasing an additional 469 shares during the last quarter. Finally, US Bancorp DE boosted its stake in shares of Washington Trust Bancorp by 242.0% in the 2nd quarter. US Bancorp DE now owns 2,582 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 1,827 shares during the last quarter. Institutional investors own 65.81% of the company’s stock.

Washington Trust Bancorp Company Profile

Washington Trust Bancorp, Inc operates as the bank holding company for The Washington Trust Company, of Westerly that provides various banking and financial services to individuals and businesses. The company operates in two segments, Commercial Banking and Wealth Management Services. The Commercial Banking segment offers deposit accounts, including interest-bearing and noninterest-bearing demand deposits, NOW and savings accounts, money market and retirement deposit accounts, and time deposits; various commercial and retail lending products, such as commercial real estate loans, including commercial mortgages, and construction and development loans; commercial and industrial loans comprising working capital, equipment financing, and financing for other business-related purposes; residential real estate loans that consist of mortgage and homeowner construction loans; and consumer loans comprising home equity loans and lines of credit, personal installment loans, and loans to individuals secured by general aviation aircraft.