Washington Trust Bancorp, Inc. (NASDAQ:WASH - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $32.48, but opened at $30.99. Washington Trust Bancorp shares last traded at $32.24, with a volume of 28,451 shares trading hands.
Wall Street Analyst Weigh In
WASH has been the topic of several recent research reports. Piper Sandler raised shares of Washington Trust Bancorp from an "underweight" rating to a "neutral" rating and lifted their price objective for the stock from $30.00 to $34.00 in a research note on Tuesday, October 22nd. StockNews.com upgraded shares of Washington Trust Bancorp from a "sell" rating to a "hold" rating in a research report on Friday.
Get Our Latest Research Report on WASH
Washington Trust Bancorp Stock Performance
The firm's 50-day moving average price is $33.25 and its two-hundred day moving average price is $32.91. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 2.63. The firm has a market capitalization of $619.98 million, a PE ratio of -20.77 and a beta of 0.81.
Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.02. Washington Trust Bancorp had a positive return on equity of 8.99% and a negative net margin of 6.90%. As a group, research analysts predict that Washington Trust Bancorp, Inc. will post 2.69 earnings per share 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 issued a dividend of $0.56 per share. The ex-dividend date was Thursday, January 2nd. This represents a $2.24 annualized dividend and a dividend yield of 6.96%. Washington Trust Bancorp's dividend payout ratio is -144.52%.
Institutional Investors Weigh In On Washington Trust Bancorp
A number of hedge funds and other institutional investors have recently made changes to their positions in WASH. State of New Jersey Common Pension Fund D lifted its stake in Washington Trust Bancorp by 0.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 73,721 shares of the financial services provider's stock valued at $2,375,000 after acquiring an additional 472 shares during the last quarter. Kestra Private Wealth Services LLC raised its holdings in shares of Washington Trust Bancorp by 1.5% during the 4th quarter. Kestra Private Wealth Services LLC now owns 36,015 shares of the financial services provider's stock valued at $1,129,000 after purchasing an additional 544 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Washington Trust Bancorp by 5.9% in the 4th quarter. SG Americas Securities LLC now owns 12,229 shares of the financial services provider's stock valued at $383,000 after purchasing an additional 682 shares during the last quarter. Essex Financial Services Inc. boosted its holdings in Washington Trust Bancorp by 10.9% in the fourth quarter. Essex Financial Services Inc. now owns 7,366 shares of the financial services provider's stock worth $231,000 after purchasing an additional 726 shares in the last quarter. Finally, Inspire Advisors LLC increased its position in Washington Trust Bancorp by 1.3% during the third quarter. Inspire Advisors LLC now owns 56,499 shares of the financial services provider's stock worth $1,820,000 after buying an additional 733 shares during the last quarter. 65.81% of the stock is owned by hedge funds and other institutional investors.
Washington Trust Bancorp Company Profile
(
Get Free Report)
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.
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