Washington Trust Bancorp (NASDAQ:WASH) Stock: Insider Edwin Santos Sells 1,200 Shares

Washington Trust Bancorp, Inc. (NASDAQ:WASH) Director Edwin Santos sold 1,200 shares of the stock in a transaction on Monday, October 26th. The stock was sold at an average price of $39.25, for a total transaction of $47,100.00. Following the transaction, the director owned 9,110 shares of the company’s stock, valued at $357,567.50. The trade was a 11.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Washington Trust Bancorp Stock Up 0.8%

Washington Trust Bancorp stock opened at $39.30 on Friday. The company has a market cap of $749.45 million, a P/E ratio of 11.80, a price-to-earnings-growth ratio of 0.83 and a beta of 0.73. Washington Trust Bancorp, Inc. has a 1-year low of $26.52 and a 1-year high of $40.54. The company has a fifty day simple moving average of $38.75 and a 200 day simple moving average of $35.56. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.86.

Washington Trust Bancorp (NASDAQ:WASH) last issued its quarterly earnings results on Monday, October 19th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.14. Washington Trust Bancorp had a net margin of 16.73% and a return on equity of 11.67%. The firm had revenue of $64.96 million for the quarter, compared to analyst estimates of $62.62 million. Research analysts anticipate that Washington Trust Bancorp, Inc. will post 3.26 earnings per share for the current fiscal year.

Washington Trust Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Thursday, October 1st were issued a $0.56 dividend. The ex-dividend date was Thursday, October 1st. This represents a $2.24 annualized dividend and a dividend yield of 5.7%. Washington Trust Bancorp’s dividend payout ratio (DPR) is presently 67.27%.

Hedge Funds Weigh In On Washington Trust Bancorp

Several large investors have recently modified their holdings of the stock. Bank of America Corp DE acquired a new position in Washington Trust Bancorp in the 2nd quarter valued at about $4,312,000. Legal & General Group Plc acquired a new stake in Washington Trust Bancorp during the second quarter worth approximately $507,000. Renaissance Technologies LLC lifted its position in Washington Trust Bancorp by 108.6% during the first quarter. Renaissance Technologies LLC now owns 77,959 shares of the financial services provider’s stock worth $2,609,000 after acquiring an additional 40,591 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in Washington Trust Bancorp during the second quarter worth approximately $10,556,000. Finally, Ieq Capital LLC bought a new stake in shares of Washington Trust Bancorp during the second quarter worth approximately $1,344,000. 65.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WASH has been the subject of a number of analyst reports. Wall Street Zen upgraded Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Zacks Research upgraded Washington Trust Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 19th. Keefe, Bruyette & Woods upped their price objective on Washington Trust Bancorp from $36.00 to $39.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 21st. Seaport Research Partners downgraded Washington Trust Bancorp from a “buy” rating to a “neutral” rating in a report on Wednesday, July 22nd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Washington Trust Bancorp in a research note on Wednesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Washington Trust Bancorp Company Profile

Washington Trust Bancorp, Inc is the holding company for The Washington Trust Company, a community-focused financial institution headquartered in Westerly, Rhode Island. Founded in 1800, Washington Trust is one of the oldest continuously operating banks in the United States.

The company provides commercial, small-business, residential mortgage and consumer banking services. Its offerings include deposit accounts, commercial and consumer loans, residential mortgages, cash-management services, online and mobile banking, and other financial services for individuals, families and businesses.

Washington Trust also operates a wealth-management business that provides investment management, financial planning, trust administration, estate planning and related services.