A number of research analysts have recently commented on the stock. Seaport Res Ptn upgraded shares of Washington Trust Bancorp from a “hold” rating to a “strong-buy” rating in a report on Friday, March 14th. Keefe, Bruyette & Woods dropped their target price on shares of Washington Trust Bancorp from $34.00 to $31.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 22nd. Finally, Bank of America started coverage on Washington Trust Bancorp in a report on Wednesday, May 28th. They set a “neutral” rating and a $28.00 price objective on the stock.

Get Our Latest Analysis on WASH

WASH stock opened at $27.21 on Wednesday. The stock has a market cap of $524.91 million, a PE ratio of -17.55 and a beta of 0.91. Washington Trust Bancorp has a 12 month low of $24.91 and a 12 month high of $40.59. The company has a 50-day moving average price of $27.87 and a 200 day moving average price of $30.65. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 2.63.

Washington Trust Bancorp (NASDAQ:WASH – Get Free Report) last released its earnings results on Monday, April 21st. The financial services provider reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.01). Washington Trust Bancorp had a negative net margin of 6.90% and a positive return on equity of 8.99%. The business had revenue of $59.07 million for the quarter, compared to the consensus estimate of $53.16 million. Equities research analysts anticipate that Washington Trust Bancorp will post 2.76 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 8.23%. The ex-dividend date is Tuesday, July 1st. Washington Trust Bancorp’s dividend payout ratio (DPR) is currently -143.59%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in WASH. Ransom Advisory Ltd bought a new stake in shares of Washington Trust Bancorp in the 1st quarter valued at about $40,000. Federated Hermes Inc. purchased a new stake in Washington Trust Bancorp during the first quarter valued at approximately $53,000. KLP Kapitalforvaltning AS acquired a new stake in Washington Trust Bancorp in the fourth quarter valued at approximately $97,000. State of Tennessee Department of Treasury acquired a new stake in Washington Trust Bancorp in the fourth quarter valued at approximately $131,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Washington Trust Bancorp by 38.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,364 shares of the financial services provider’s stock worth $196,000 after purchasing an additional 1,757 shares during the last quarter. Hedge funds and other institutional investors own 65.81% of the company’s stock.

(Get Free Report

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.

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