Washington Trust Bancorp, Inc. (NASDAQ:WASH - Get Free Report) EVP Kathleen A. Ryan sold 544 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $27.65, for a total value of $15,041.60. Following the transaction, the executive vice president now owns 8,885 shares of the company's stock, valued at approximately $245,670.25. This trade represents a 5.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Washington Trust Bancorp Stock Performance
WASH stock opened at $27.75 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 2.63. The business's fifty day simple moving average is $27.77 and its two-hundred day simple moving average is $30.83. Washington Trust Bancorp, Inc. has a twelve month low of $24.70 and a twelve month high of $40.59. The firm has a market cap of $535.33 million, a price-to-earnings ratio of -17.90 and a beta of 0.91.
Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last released its earnings results on Monday, April 21st. The financial services provider reported $0.61 earnings per share for the quarter, missing analysts' consensus estimates of $0.62 by ($0.01). Washington Trust Bancorp had a positive return on equity of 8.99% and a negative net margin of 6.90%. The business had revenue of $59.07 million during the quarter, compared to analysts' expectations of $53.16 million. Analysts predict that Washington Trust Bancorp, Inc. will post 2.76 earnings per share for the current year.
Washington Trust Bancorp Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st were paid a $0.56 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $2.24 dividend on an annualized basis and a yield of 8.07%. Washington Trust Bancorp's payout ratio is -143.59%.
Institutional Trading of Washington Trust Bancorp
Hedge funds and other institutional investors have recently bought and sold shares of the business. Proficio Capital Partners LLC bought a new position in shares of Washington Trust Bancorp during the 4th quarter worth $1,955,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Washington Trust Bancorp during the 4th quarter worth $369,000. BNP Paribas Financial Markets grew its position in shares of Washington Trust Bancorp by 17.9% during the 4th quarter. BNP Paribas Financial Markets now owns 16,170 shares of the financial services provider's stock worth $507,000 after buying an additional 2,455 shares in the last quarter. Teacher Retirement System of Texas bought a new position in shares of Washington Trust Bancorp during the 4th quarter worth $676,000. Finally, Franklin Resources Inc. bought a new position in shares of Washington Trust Bancorp during the 4th quarter worth $6,824,000. Hedge funds and other institutional investors own 65.81% of the company's stock.
Analysts Set New Price Targets
Several research firms have weighed in on WASH. Seaport Res Ptn upgraded Washington Trust Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 14th. Bank of America initiated 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. Finally, Keefe, Bruyette & Woods decreased their price target on Washington Trust Bancorp from $34.00 to $31.00 and set a "market perform" rating on the stock in a report on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $31.00.
Read Our Latest Research Report on Washington Trust Bancorp
About Washington Trust Bancorp
(
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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