Washington Trust Bancorp (NASDAQ:WASH) Downgraded to “Neutral” at Compass Point

Washington Trust Bancorp (NASDAQ:WASH) was downgraded by equities research analysts at Compass Point from a “buy” rating to a “neutral” rating in a note issued to investors on Monday, The Fly reports.

Several other research analysts have also commented on the stock. Boenning Scattergood lowered shares of Washington Trust Bancorp from an “outperform” rating to a “neutral” rating in a report on Tuesday, October 22nd. BidaskClub cut shares of Washington Trust Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th. ValuEngine upgraded shares of Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Zacks Investment Research lowered shares of Washington Trust Bancorp from a “hold” rating to a “strong sell” rating in a research report on Saturday, October 26th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $54.33.

WASH stock opened at $52.67 on Monday. The company has a market cap of $913.99 million, a PE ratio of 13.40 and a beta of 0.66. The company has a current ratio of 1.10, a quick ratio of 1.09 and a debt-to-equity ratio of 2.03. The stock has a 50-day moving average price of $51.65 and a two-hundred day moving average price of $49.86. Washington Trust Bancorp has a 12-month low of $45.21 and a 12-month high of $54.24.

Washington Trust Bancorp (NASDAQ:WASH) last released its quarterly earnings data on Monday, October 21st. The financial services provider reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.12. Washington Trust Bancorp had a return on equity of 14.84% and a net margin of 26.76%. The company had revenue of $51.32 million for the quarter, compared to the consensus estimate of $50.50 million. Equities analysts forecast that Washington Trust Bancorp will post 4.02 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in WASH. Resources Management Corp CT ADV acquired a new stake in shares of Washington Trust Bancorp in the third quarter valued at about $773,000. Millennium Management LLC raised its holdings in shares of Washington Trust Bancorp by 4.6% during the 3rd quarter. Millennium Management LLC now owns 52,398 shares of the financial services provider’s stock valued at $2,531,000 after buying an additional 2,285 shares during the period. California State Teachers Retirement System lifted its position in Washington Trust Bancorp by 1.2% during the 3rd quarter. California State Teachers Retirement System now owns 23,563 shares of the financial services provider’s stock worth $1,138,000 after acquiring an additional 282 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Washington Trust Bancorp by 666.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 5,367 shares of the financial services provider’s stock worth $259,000 after acquiring an additional 4,667 shares in the last quarter. Finally, California Public Employees Retirement System lifted its position in Washington Trust Bancorp by 64.6% during the 3rd quarter. California Public Employees Retirement System now owns 30,285 shares of the financial services provider’s stock worth $1,463,000 after acquiring an additional 11,890 shares in the last quarter. 58.31% of the stock is currently owned by institutional investors.

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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