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

by · The Cerbat Gem

Washington Trust Bancorp, Inc. (NASDAQ:WASH – Get Free Report) has earned an average recommendation of “Hold” from the two analysts that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating and one has assigned a buy rating to the company.

A number of equities analysts recently issued reports on the company. Seaport Res Ptn restated a “buy” rating on shares of Washington Trust Bancorp in a report on Tuesday, September 12th. StockNews.com assumed coverage on Washington Trust Bancorp in a report on Thursday, October 5th. They set a “sell” rating for the company.

Check Out Our Latest Analysis on Washington Trust Bancorp

Washington Trust Bancorp Stock Performance

NASDAQ WASH opened at $33.56 on Thursday. The company has a market cap of $571.53 million, a P/E ratio of 11.19 and a beta of 0.81. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.05 and a current ratio of 1.05. The business’s 50 day moving average price is $27.39 and its 200-day moving average price is $27.81. Washington Trust Bancorp has a fifty-two week low of $21.69 and a fifty-two week high of $48.78.

Washington Trust Bancorp (NASDAQ:WASH – Get Free Report) last released its earnings results on Tuesday, October 24th. The financial services provider reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.09. The firm had revenue of $95.95 million for the quarter, compared to the consensus estimate of $47.25 million. Washington Trust Bancorp had a return on equity of 11.44% and a net margin of 15.08%. During the same quarter in the previous year, the company posted $1.08 EPS. Sell-side analysts predict that Washington Trust Bancorp will post 2.57 earnings per share for the current year.

Washington Trust Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Tuesday, January 2nd will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 6.67%. The ex-dividend date is Friday, December 29th. Washington Trust Bancorp’s payout ratio is currently 74.67%.

Institutional Investors Weigh In On Washington Trust Bancorp

Several hedge funds have recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its holdings in shares of Washington Trust Bancorp by 2.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 8,194 shares of the financial services provider’s stock worth $381,000 after buying an additional 221 shares during the period. Legal & General Group Plc lifted its holdings in shares of Washington Trust Bancorp by 1.7% in the 2nd quarter. Legal & General Group Plc now owns 15,302 shares of the financial services provider’s stock worth $740,000 after buying an additional 254 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Washington Trust Bancorp by 4.0% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 6,827 shares of the financial services provider’s stock worth $330,000 after buying an additional 265 shares during the period. Great West Life Assurance Co. Can lifted its holdings 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 worth $84,000 after buying an additional 327 shares during the period. Finally, Shepherd Financial Partners LLC lifted its holdings in shares of Washington Trust Bancorp by 1.5% in the 4th quarter. Shepherd Financial Partners LLC now owns 23,616 shares of the financial services provider’s stock worth $1,114,000 after buying an additional 350 shares during the period. 68.49% of the stock is currently owned by hedge funds and other institutional investors.

Washington Trust Bancorp Company Profile

(Get Free Report

Washington Trust Bancorp, Inc operates as the bank holding company for The Washington Trust Company, of Westerly that offers 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 provides 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 loans; commercial and industrial loans; 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.

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