StockNews.com took over stock coverage of Washington Trust Bancorp (NASDAQ:WASH – Get an Assessment) in a research report delivered to clients and investors on Thursday. The brokerage has set a “hold” rating on the shares of the financial services provider.
Separately, Zacks Investment Research upgraded Washington Trust Bancorp from a “sell” rating to a “hold” rating in a Friday, Jan. 7 research report.
WASH opened at $53.47 on Thursday. The company’s 50-day simple moving average is $55.14 and its 200-day simple moving average is $55.37. The company has a debt ratio of 0.30, a quick ratio of 0.89 and a current ratio of 0.89. Washington Trust Bancorp has a one-year minimum of $46.35 and a one-year maximum of $60.96. The stock has a market capitalization of $926.69 million, a P/E ratio of 12.18 and a beta of 0.75.
Washington Trust Bancorp (NASDAQ:WASH – Get Rating) last released its results on Wednesday, January 26. The financial services provider reported EPS of $1.15 for the quarter, beating the Zacks consensus estimate of $1.01 by $0.14. Washington Trust Bancorp had a return on equity of 13.94% and a net margin of 31.26%. The company posted revenue of $58.05 million for the quarter, versus $55.65 million expected by analysts. In the same quarter of the previous year, the company made earnings per share of $1.07. On average, equity research analysts expect Washington Trust Bancorp to post EPS of 3.79 for the current fiscal year.
In other Washington Trust Bancorp news, Executive Vice President James M. Hagerty sold 2,000 shares of Washington Trust Bancorp in a trade that took place on Friday, January 7. The stock was sold at an average price of $60.11, for a total value of $120,220.00. The sale was disclosed in a document filed with the SEC, accessible via this link. Insiders own 1.42% of the shares of the company.
Institutional investors and hedge funds have recently changed their positions in the company. Parallel Advisors LLC increased its holdings in Washington Trust Bancorp by 4,590.0% in Q3. Parallel Advisors LLC now owns 469 shares of the financial services provider valued at $25,000 after buying 459 additional shares in the last quarter. CWM LLC bought a new stake in Washington Trust Bancorp in Q4, valued at around $40,000. Lazard Asset Management LLC increased its stake in Washington Trust Bancorp by 335.5% in the fourth quarter. Lazard Asset Management LLC now owns 858 shares of the financial services provider valued at $48,000 after purchasing an additional 661 shares in the last quarter. Neuberger Berman Group LLC purchased a new equity stake in Washington Trust Bancorp during Q3 for approximately $201,000. Finally, GSA Capital Partners LLP purchased a new equity stake in Washington Trust Bancorp during Q4 for a value of approximately $204,000. 76.86% of the shares are currently held by institutional investors.
About Washington Trust Bancorp (Get an assessment)
Washington Trust Bancorp, Inc. operates as a bank holding company for The Washington Trust Company, of Westerly, which provides various banking and financial services to individuals and businesses. The Company operates in two segments, commercial banking services and wealth management services. The Commercial Banking segment offers various commercial and retail lending products, such as commercial real estate loans, including commercial mortgages and construction loans; commercial and industrial loans; residential real estate loans consisting of mortgage loans and owner-built loans; and consumer loans including home equity loans and lines of credit, personal installment loans and personal loans secured by general aviation aircraft.
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