Washington Trust Bancorp, Inc. (NASDAQ:WASH) EVP Kathleen A. Ryan Sells 544 Shares

Washington Trust Bancorp, Inc. (NASDAQ:WASH - Get Free Report) EVP Kathleen A. Ryan sold 544 shares of Washington Trust Bancorp stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $27.65, for a total transaction of $15,041.60. Following the completion of the transaction, the executive vice president now directly owns 8,885 shares in the company, valued at approximately $245,670.25. This trade represents a 5.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Washington Trust Bancorp Stock Up 0.9%

Shares of NASDAQ:WASH traded up $0.25 during midday trading on Monday, hitting $27.95. 35,201 shares of the stock were exchanged, compared to its average volume of 176,323. The business's fifty day simple moving average is $27.82 and its two-hundred day simple moving average is $30.90. The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.10 and a current ratio of 1.10. Washington Trust Bancorp, Inc. has a 52-week low of $24.70 and a 52-week high of $40.59. The company has a market capitalization of $539.18 million, a PE ratio of -18.03 and a beta of 0.91.

Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last announced its quarterly earnings results on Monday, April 21st. The financial services provider reported $0.61 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.01). Washington Trust Bancorp had a positive return on equity of 8.99% and a negative net margin of 6.90%. The business had revenue of $59.07 million for the quarter, compared to analyst estimates of $53.16 million. As a group, research analysts predict that Washington Trust Bancorp, Inc. will post 2.76 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 Friday, April 11th. Stockholders of record on Tuesday, April 1st were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 8.01%. The ex-dividend date was Tuesday, April 1st. Washington Trust Bancorp's payout ratio is -143.59%.

Institutional Trading of Washington Trust Bancorp

Hedge funds have recently added to or reduced their stakes in the business. Ransom Advisory Ltd bought a new stake in Washington Trust Bancorp in the 1st quarter valued at $40,000. Federated Hermes Inc. bought a new stake in Washington Trust Bancorp during the 1st quarter worth about $53,000. KLP Kapitalforvaltning AS bought a new stake in shares of Washington Trust Bancorp during the fourth quarter valued at approximately $97,000. State of Tennessee Department of Treasury bought a new position in Washington Trust Bancorp in the 4th quarter valued at $131,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Washington Trust Bancorp by 38.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,364 shares of the financial services provider's stock worth $196,000 after purchasing an additional 1,757 shares during the period. Institutional investors own 65.81% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Seaport Res Ptn upgraded shares of Washington Trust Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 14th. Bank of America began coverage on Washington Trust Bancorp in a report on Wednesday, May 28th. They set a "neutral" rating and a $28.00 price target on the stock. Finally, Keefe, Bruyette & Woods dropped their price target on Washington Trust Bancorp from $34.00 to $31.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $31.00.

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.

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