Washington Trust Bancorp, Inc. (NASDAQ:WASH – Get Free Report) Director Edwin Santos sold 1,200 shares of the stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $39.25, for a total transaction of $47,100.00. Following the sale, the director directly owned 9,110 shares of the company’s stock, valued at approximately $357,567.50. This trade represents a 11.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Washington Trust Bancorp Price Performance
Shares of Washington Trust Bancorp stock opened at $38.59 on Friday. The firm has a market cap of $735.91 million, a PE ratio of 11.59, a PEG ratio of 0.84 and a beta of 0.73. The stock has a 50 day moving average of $38.73 and a 200 day moving average of $35.60. 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, Inc. has a 12 month low of $26.52 and a 12 month high of $40.54.
Washington Trust Bancorp (NASDAQ:WASH – Get Free Report) last announced its quarterly earnings results on Monday, October 19th. The financial services provider reported $1.01 earnings per share for the quarter, topping 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 company had revenue of $64.96 million for the quarter, compared to analysts’ expectations of $62.62 million. On average, research analysts expect that Washington Trust Bancorp, Inc. will post 3.26 EPS for the current fiscal year.
Washington Trust Bancorp Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Thursday, October 1st were given a $0.56 dividend. The ex-dividend date was Thursday, October 1st. This represents a $2.24 dividend on an annualized basis and a yield of 5.8%. Washington Trust Bancorp’s dividend payout ratio (DPR) is currently 67.27%.
Hedge Funds Weigh In On Washington Trust Bancorp
A number of large investors have recently bought and sold shares of the business. State of Alaska Department of Revenue bought a new stake in Washington Trust Bancorp during the 3rd quarter valued at $27,000. GAMMA Investing LLC grew its stake in Washington Trust Bancorp by 107.8% in the third quarter. GAMMA Investing LLC now owns 802 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 416 shares during the last quarter. Allworth Financial LP purchased a new stake in shares of Washington Trust Bancorp during the second quarter valued at about $50,000. State of Wyoming acquired a new stake in Washington Trust Bancorp in the first quarter valued at approximately $70,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Washington Trust Bancorp in the 2nd quarter worth $121,000. Institutional investors own 65.81% of the company’s stock.
Analyst Ratings Changes
Several research analysts have issued reports on the company. Wall Street Zen upgraded Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Keefe, Bruyette & Woods boosted their target price on shares of Washington Trust Bancorp from $36.00 to $39.00 and gave the company a “market perform” rating in a research note on Wednesday, October 21st. Zacks Research raised shares of Washington Trust Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 19th. Seaport Research Partners downgraded shares of Washington Trust Bancorp from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 22nd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Washington Trust Bancorp in a research note on Wednesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $37.00.
View Our Latest Analysis on WASH
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.
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