Washington Trust Bancorp (NASDAQ:WASH) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Washington Trust Bancorp (NASDAQ:WASH - Free Report) from a sell rating to a hold rating in a report released on Friday morning.

Separately, Piper Sandler upgraded shares of Washington Trust Bancorp from an "underweight" rating to a "neutral" rating and upped their target price for the company from $30.00 to $34.00 in a research report on Tuesday, October 22nd.

Washington Trust Bancorp Trading Down 1.8 %

Shares of Washington Trust Bancorp stock traded down $0.58 on Friday, hitting $32.19. 217,753 shares of the company's stock traded hands, compared to its average volume of 203,256. The firm's 50-day moving average price is $33.25 and its two-hundred day moving average price is $32.91. The stock has a market capitalization of $619.98 million, a PE ratio of -20.77 and a beta of 0.81. Washington Trust Bancorp has a one year low of $24.11 and a one year high of $40.59. The company has a debt-to-equity ratio of 2.63, a current ratio of 1.10 and a quick ratio of 1.10.

Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. Washington Trust Bancorp had a negative net margin of 6.90% and a positive return on equity of 8.99%. On average, research analysts expect that Washington Trust Bancorp will post 2.69 EPS for the current fiscal year.

Washington Trust Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 6.96%. The ex-dividend date was Thursday, January 2nd. Washington Trust Bancorp's dividend payout ratio is currently -144.52%.

Institutional Trading of Washington Trust Bancorp

Large investors have recently made changes to their positions in the company. Zacks Investment Management bought a new stake in shares of Washington Trust Bancorp in the 3rd quarter valued at $1,258,000. Barclays PLC increased its position in shares of Washington Trust Bancorp by 44.9% in the 3rd quarter. Barclays PLC now owns 53,315 shares of the financial services provider's stock valued at $1,717,000 after buying an additional 16,511 shares in the last quarter. Aptus Capital Advisors LLC increased its position in shares of Washington Trust Bancorp by 15.6% in the 3rd quarter. Aptus Capital Advisors LLC now owns 103,832 shares of the financial services provider's stock valued at $3,344,000 after buying an additional 14,028 shares in the last quarter. Jane Street Group LLC increased its position in shares of Washington Trust Bancorp by 95.6% in the 3rd quarter. Jane Street Group LLC now owns 36,640 shares of the financial services provider's stock valued at $1,180,000 after buying an additional 17,906 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Washington Trust Bancorp by 60.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 66,737 shares of the financial services provider's stock worth $2,150,000 after purchasing an additional 25,029 shares during the period. Institutional investors 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.