Washington Trust Bancorp (NASDAQ:WASH) Lifted to Hold at StockNews.com

StockNews.com upgraded shares of Washington Trust Bancorp (NASDAQ:WASH) from a sell rating to a hold rating in a research report report published on Thursday.

Separately, Seaport Res Ptn downgraded shares of Washington Trust Bancorp from a buy rating to a neutral rating in a research note on Wednesday, January 31st.

Washington Trust Bancorp Trading Up 0.6 %

Shares of WASH opened at $26.14 on Thursday. The firm’s 50 day simple moving average is $25.76 and its 200 day simple moving average is $27.21. The company has a market capitalization of $445.24 million, a P/E ratio of 9.65 and a beta of 0.81. The company has a debt-to-equity ratio of 2.57, a current ratio of 1.07 and a quick ratio of 1.07. Washington Trust Bancorp has a 1-year low of $21.69 and a 1-year high of $33.96.

Washington Trust Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Monday, April 1st were paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 8.57%. The ex-dividend date was Thursday, March 28th. Washington Trust Bancorp’s dividend payout ratio (DPR) is presently 82.66%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in WASH. Barrett & Company Inc. raised its stake in shares of Washington Trust Bancorp by 37.7% during the third quarter. Barrett & Company Inc. now owns 4,010 shares of the financial services provider’s stock worth $106,000 after acquiring an additional 1,097 shares in the last quarter. Kestra Private Wealth Services LLC raised its stake in shares of Washington Trust Bancorp by 37.0% during the third quarter. Kestra Private Wealth Services LLC now owns 27,974 shares of the financial services provider’s stock worth $737,000 after acquiring an additional 7,562 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Washington Trust Bancorp by 9.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 219,208 shares of the financial services provider’s stock worth $5,772,000 after buying an additional 19,349 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Washington Trust Bancorp by 3.6% in the third quarter. PNC Financial Services Group Inc. now owns 20,575 shares of the financial services provider’s stock worth $542,000 after buying an additional 715 shares during the period. Finally, FMR LLC increased its stake in shares of Washington Trust Bancorp by 0.4% in the third quarter. FMR LLC now owns 1,314,538 shares of the financial services provider’s stock worth $34,612,000 after buying an additional 4,731 shares during the period. 65.81% of the stock is owned by hedge funds and other institutional investors.

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.