Washington Trust Bancorp, Inc. (NASDAQ:WASH) Given Consensus Recommendation of “Reduce” by Brokerages

Washington Trust Bancorp, Inc. (NASDAQ:WASH) has earned an average rating of “Reduce” from the two research firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and one has issued a hold rating on the company.

Separately, Seaport Res Ptn cut Washington Trust Bancorp from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 31st.

Washington Trust Bancorp Stock Down 0.3 %

Washington Trust Bancorp stock opened at $24.23 on Monday. The company has a debt-to-equity ratio of 2.57, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $412.64 million, a price-to-earnings ratio of 8.62 and a beta of 0.81. Washington Trust Bancorp has a 1-year low of $21.69 and a 1-year high of $33.96. The business has a fifty day moving average price of $25.86 and a 200-day moving average price of $27.21.

Washington Trust Bancorp (NASDAQ:WASH) last posted its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.22. The firm had revenue of $45.96 million during the quarter, compared to analysts’ expectations of $47.38 million. Washington Trust Bancorp had a return on equity of 10.53% and a net margin of 13.19%. Equities research analysts forecast that Washington Trust Bancorp will post 1.87 EPS for the current fiscal year.

Washington Trust Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Monday, April 1st were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.24 dividend on an annualized basis and a yield of 9.24%. Washington Trust Bancorp’s dividend payout ratio is currently 79.72%.

Institutional Trading of Washington Trust Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Captrust Financial Advisors lifted its position in Washington Trust Bancorp by 16,450.0% during the 2nd quarter. Captrust Financial Advisors now owns 662 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 658 shares during the period. Tower Research Capital LLC TRC lifted its position in Washington Trust Bancorp by 641.3% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,112 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 962 shares during the period. Citigroup Inc. lifted its position in Washington Trust Bancorp by 31.6% during the 1st quarter. Citigroup Inc. now owns 1,953 shares of the financial services provider’s stock worth $68,000 after acquiring an additional 469 shares during the period. Great West Life Assurance Co. Can lifted its position in Washington Trust Bancorp by 27.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 1,530 shares of the financial services provider’s stock worth $84,000 after acquiring an additional 327 shares during the period. Finally, Barrett & Company Inc. lifted its position in Washington Trust Bancorp by 37.7% during the 3rd quarter. Barrett & Company Inc. now owns 4,010 shares of the financial services provider’s stock worth $106,000 after acquiring an additional 1,097 shares during the period. Institutional investors and hedge funds own 65.81% of the company’s stock.

Washington Trust Bancorp Company Profile

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.