Washington Trust Bancorp (NASDAQ:WASH) reduced to “sell” on StockNews.com
Separately, Piper Sandler downgraded shares of Washington Trust Bancorp from an “overweight” rating to a “neutral” rating and set a price target of $56.00 for the stock. in a research report on Thursday, April 7.
Shares of WASHING opened at $48.51 on Friday. The company has a market capitalization of $841.65 million, a price-earnings ratio of 11.66 and a beta of 0.74. The company has a debt ratio of 0.15, a quick ratio of 0.87 and a current ratio of 0.88. Washington Trust Bancorp has a fifty-two week minimum of $45.60 and a fifty-two week maximum of $60.96. The company has a 50-day moving average price of $48.55 and a 200-day moving average price of $52.44.
Washington Trust Bancorp (NASDAQ: WASH – Get a rating) last released its quarterly earnings data on Monday, April 25. The financial services provider reported EPS of $0.94 for the quarter, beating the consensus estimate of $0.91 by $0.03. Washington Trust Bancorp had a net margin of 30.69% and a return on equity of 13.35%. The company posted revenue of $52.25 million in the quarter, compared to analyst estimates of $53.40 million. During the same period of the previous year, the company achieved EPS of $1.17. As a group, equity research analysts expect Washington Trust Bancorp to post 3.82 earnings per share for the current year.
Several hedge funds have recently bought and sold shares of the stock. Invesco Ltd. raised its position in shares of Washington Trust Bancorp by 7.2% during the third quarter. Invesco Ltd. now owns 32,180 shares of the financial services provider worth $1,705,000 after purchasing an additional 2,169 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Washington Trust Bancorp by 4.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 7,016 shares of the financial services provider worth $395,000 after acquiring 300 additional shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Washington Trust Bancorp during the fourth quarter worth approximately $652,000. CWM LLC purchased a new stake in Washington Trust Bancorp in the fourth quarter worth approximately $40,000. Finally, Qube Research & Technologies Ltd increased its position in Washington Trust Bancorp by 149.5% in the fourth quarter. Qube Research & Technologies Ltd now owns 19,305 shares of the financial services provider valued at $1,088,000 after buying an additional 11,567 shares in the last quarter. 77.37% of the shares are held by hedge funds and other institutional investors.
About Washington Trust Bancorp (Get a rating)
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 mortgages 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.
Get news and reviews for Washington Trust Bancorp Daily – Enter your email address below to receive a concise daily summary of breaking news and analyst ratings for Washington Trust Bancorp and related companies with MarketBeat.com’s FREE daily newsletter.