Washington Trust Bancorp, Inc. (NASDAQ:WASH) Given Average Recommendation of "Reduce" by Analysts

Washington Trust Bancorp, Inc. (NASDAQ:WASH - Get Free Report) has been given a consensus rating of "Reduce" by the two analysts that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating and one has issued a hold rating on the company.

Separately, Seaport Res Ptn lowered Washington Trust Bancorp from a "buy" rating to a "neutral" rating in a research note on Wednesday, January 31st.

Washington Trust Bancorp Stock Performance

WASH traded down $0.38 on Monday, hitting $24.54. The company had a trading volume of 106,050 shares, compared to its average volume of 89,359. Washington Trust Bancorp has a 1-year low of $21.69 and a 1-year high of $33.96. The stock has a market cap of $417.92 million, a price-to-earnings ratio of 8.79 and a beta of 0.81. 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 company's fifty day moving average price is $25.96 and its 200 day moving average price is $27.27.

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

Washington Trust Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Monday, April 1st were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 9.13%. The ex-dividend date was Thursday, March 28th. Washington Trust Bancorp's dividend payout ratio (DPR) is currently 79.72%.

Institutional Trading of Washington Trust Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in shares of Washington Trust Bancorp by 24.1% in the first quarter. BlackRock Inc. now owns 1,968,441 shares of the financial services provider's stock valued at $68,226,000 after buying an additional 382,778 shares during the period. AQR Capital Management LLC bought a new stake in shares of Washington Trust Bancorp in the 3rd quarter worth approximately $4,113,000. Norges Bank acquired a new stake in shares of Washington Trust Bancorp during the 4th quarter worth approximately $5,243,000. State Street Corp increased its position in shares of Washington Trust Bancorp by 19.5% during the second quarter. State Street Corp now owns 618,255 shares of the financial services provider's stock valued at $16,921,000 after purchasing an additional 100,822 shares during the period. Finally, Crestwood Advisors Group LLC acquired a new position in shares of Washington Trust Bancorp in the third quarter valued at $2,512,000. 65.81% of the stock is currently owned by institutional investors and hedge funds.

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.