Washington Trust Bancorp (NASDAQ:WASH) Raised to Strong-Buy at Zacks Research

Washington Trust Bancorp (NASDAQ:WASH) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday, Zacks reports.

A number of other equities research analysts also recently weighed in on WASH. Seaport Research Partners downgraded Washington Trust Bancorp from a “buy” rating to a “neutral” rating in a report on Wednesday, July 22nd. Piper Sandler boosted their price target on Washington Trust Bancorp from $32.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. Keefe, Bruyette & Woods boosted their price target on Washington Trust Bancorp from $33.00 to $36.00 and gave the stock a “market perform” rating in a report on Wednesday, July 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Washington Trust Bancorp in a research report on Wednesday, September 2nd. Finally, Wall Street Zen raised Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Washington Trust Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $35.50.

Washington Trust Bancorp Stock Performance

Shares of NASDAQ:WASH opened at $38.11 on Monday. The company’s 50 day simple moving average is $38.87 and its 200 day simple moving average is $36.26. The stock has a market capitalization of $726.76 million, a price-to-earnings ratio of 11.44, a price-to-earnings-growth ratio of 0.79 and a beta of 0.73. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.97 and a quick ratio of 0.97. Washington Trust Bancorp has a 1 year low of $26.52 and a 1 year high of $40.54.

Washington Trust Bancorp (NASDAQ:WASH) last announced its quarterly earnings data on Monday, October 19th. The financial services provider reported $1.01 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 business had revenue of $64.96 million during the quarter, compared to the consensus estimate of $62.62 million. As a group, research analysts predict that Washington Trust Bancorp will post 3.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Washington Trust Bancorp

A number of institutional investors have recently added to or reduced their stakes in WASH. BlackRock Inc. acquired a new stake in Washington Trust Bancorp in the second quarter valued at approximately $81,558,000. First Horizon Corp bought a new stake in shares of Washington Trust Bancorp during the first quarter worth $9,912,000. The Manufacturers Life Insurance Company bought a new stake in shares of Washington Trust Bancorp during the second quarter worth $10,556,000. Basswood Capital Management L.L.C. acquired a new position in shares of Washington Trust Bancorp during the second quarter worth $6,712,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Washington Trust Bancorp during the second quarter worth $5,466,000. 65.81% of the stock is currently owned by institutional investors and hedge funds.

Washington Trust Bancorp News Roundup

Here are the key news stories impacting Washington Trust Bancorp this week:

• Positive Sentiment: Washington Trust reported third-quarter net income of $19.4 million, up 21% from the preceding quarter. Earnings per share were $1.01, well above the $0.87 analyst consensus and substantially higher than $0.56 a year earlier. Washington Trust Reports Third Quarter 2026 Results
• Positive Sentiment: Revenue reached approximately $65.0 million, exceeding the $62.6 million consensus estimate. The combination of earnings and revenue beats suggests better-than-expected operating performance and was the primary catalyst for the stock’s advance. Washington Trust Bancorp Surpasses Q3 Earnings and Revenue Estimates
• Positive Sentiment: Management highlighted margin expansion, disciplined growth and a confident earnings outlook during the quarterly call, supporting expectations for continued profitability. Washington Trust Bancorp Signals Confident Earnings Outlook
• Neutral Sentiment: Loan and deposit growth continued, but quarter-over-quarter expansion was less impressive than the earnings improvement. Investors may therefore focus on whether Washington Trust can sustain growth while preserving margins. Why Washington Trust Bancorp Stock Was a Winner Today
• Positive Sentiment: Zacks added WASH to a list of top income stocks carrying a Rank #1, reinforcing the favorable near-term sentiment around the shares.

About Washington Trust Bancorp

Washington Trust Bancorp, Inc is the holding company for The Washington Trust Company, a community bank headquartered in Westerly, Rhode Island. Founded in 1800, Washington Trust is one of the oldest continuously operating banks in the United States and serves individuals, families, businesses and institutions.

The bank provides a range of financial services, including checking and savings accounts, certificates of deposit, residential and commercial real estate lending, consumer loans, business banking and cash-management services.