A number of other brokerages have also recently commented on WASH. Boenning Scattergood initiated coverage on shares of Washington Trust Bancorp in a report on Wednesday, June 26th. They issued an outperform rating and a $55.00 target price for the company. ValuEngine cut shares of Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. Finally, Compass Point cut shares of Bank of Hawaii from a buy rating to a neutral rating and reduced their target price for the company from $83.00 to $82.00 in a report on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. Washington Trust Bancorp presently has an average rating of Hold and a consensus target price of $54.33.
NASDAQ WASH opened at $52.32 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.36. Washington Trust Bancorp has a 1 year low of $45.93 and a 1 year high of $62.45. The firm has a market capitalization of $896.73 million, a P/E ratio of 13.31 and a beta of 0.67. The company has a fifty day moving average of $50.89.
Washington Trust Bancorp (NASDAQ:WASH) last released its quarterly earnings data on Monday, April 22nd. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.05. Washington Trust Bancorp had a net margin of 28.08% and a return on equity of 15.75%. The company had revenue of $49.95 million during the quarter. As a group, sell-side analysts anticipate that Washington Trust Bancorp will post 4.15 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Monday, July 1st were issued a dividend of $0.51 per share. The ex-dividend date was Friday, June 28th. This represents a $2.04 annualized dividend and a yield of 3.90%. Washington Trust Bancorp’s dividend payout ratio is currently 51.91%.
In other Washington Trust Bancorp news, Director Edwin J. Santos sold 600 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $52.95, for a total transaction of $31,770.00. Following the transaction, the director now directly owns 4,650 shares in the company, valued at $246,217.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John T. Ruggieri bought 500 shares of the stock in a transaction on Tuesday, May 7th. The shares were bought at an average price of $53.00 per share, for a total transaction of $26,500.00. Following the completion of the transaction, the director now directly owns 1,090 shares of the company’s stock, valued at approximately $57,770. The disclosure for this purchase can be found here. Corporate insiders own 2.18% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Champlain Investment Partners LLC raised its position in shares of Washington Trust Bancorp by 2.6% during the 1st quarter. Champlain Investment Partners LLC now owns 749,545 shares of the financial services provider’s stock worth $36,091,000 after buying an additional 18,845 shares in the last quarter. Lehman & Derafelo Financial Resources LLC bought a new stake in shares of Washington Trust Bancorp during the 1st quarter worth about $1,025,000. Principal Financial Group Inc. raised its position in shares of Washington Trust Bancorp by 0.9% during the 1st quarter. Principal Financial Group Inc. now owns 1,048,229 shares of the financial services provider’s stock worth $50,472,000 after buying an additional 9,104 shares in the last quarter. Raymond James & Associates raised its position in shares of Washington Trust Bancorp by 3.0% during the 1st quarter. Raymond James & Associates now owns 73,255 shares of the financial services provider’s stock worth $3,527,000 after buying an additional 2,141 shares in the last quarter. Finally, Alpine Woods Capital Investors LLC raised its position in shares of Washington Trust Bancorp by 16.8% during the 1st quarter. Alpine Woods Capital Investors LLC now owns 11,470 shares of the financial services provider’s stock worth $552,000 after buying an additional 1,650 shares in the last quarter. Institutional investors own 58.23% of the company’s stock.
About Washington Trust Bancorp
Washington Trust Bancorp, Inc operates as the bank holding company for The Washington Trust Company, of Westerly that offers various financial products and services to individuals and businesses. The company operates in two segments, Commercial Banking and Wealth Management Services. The Commercial Banking segment provides various commercial and retail lending products, which include commercial real estate loans consisting of commercial mortgages and construction loans; commercial and industrial loans; residential real estate 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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