Washington Trust Bancorp, Inc. (NASDAQ:WASH) Receives $32.50 Consensus Target Price from Analysts

Shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the three brokerages that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $32.50.

A number of analysts have recently issued reports on WASH shares. Wall Street Zen raised Washington Trust Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, January 31st. Seaport Res Ptn upgraded Washington Trust Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 14th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Washington Trust Bancorp from $34.00 to $31.00 and set a "market perform" rating for the company in a research report on Tuesday, April 22nd.

Washington Trust Bancorp Stock Up 0.2%

Shares of NASDAQ:WASH traded up $0.06 during mid-day trading on Friday, reaching $28.25. 15,066 shares of the stock were exchanged, compared to its average volume of 147,677. The stock's 50 day simple moving average is $28.66 and its 200-day simple moving average is $31.82. Washington Trust Bancorp has a one year low of $24.70 and a one year high of $40.59. The company has a market cap of $544.87 million, a P/E ratio of -18.15 and a beta of 0.89. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 2.63.

Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last released its earnings results on Monday, April 21st. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.62 by ($0.01). The company had revenue of $59.07 million during the quarter, compared to analyst estimates of $53.16 million. Washington Trust Bancorp had a negative net margin of 6.90% and a positive return on equity of 8.99%. As a group, equities research analysts predict that Washington Trust Bancorp will post 2.76 EPS for the current year.

Washington Trust Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, 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 7.93%. The ex-dividend date was Tuesday, April 1st. Washington Trust Bancorp's dividend payout ratio is -143.59%.

Institutional Trading of Washington Trust Bancorp

A number of institutional investors have recently bought and sold shares of WASH. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Washington Trust Bancorp by 3.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,643 shares of the financial services provider's stock valued at $302,000 after acquiring an additional 319 shares in the last quarter. Linden Thomas Advisory Services LLC increased its position in shares of Washington Trust Bancorp by 1.1% in the first quarter. Linden Thomas Advisory Services LLC now owns 36,775 shares of the financial services provider's stock worth $1,135,000 after purchasing an additional 401 shares during the period. Kestra Private Wealth Services LLC raised its stake in Washington Trust Bancorp by 1.5% in the fourth 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 position in Washington Trust Bancorp by 5.9% during the fourth quarter. SG Americas Securities LLC now owns 12,229 shares of the financial services provider's stock worth $383,000 after purchasing an additional 682 shares during the period. Finally, Essex Financial Services Inc. grew its stake in Washington Trust Bancorp by 10.9% during the fourth quarter. Essex Financial Services Inc. now owns 7,366 shares of the financial services provider's stock worth $231,000 after buying an additional 726 shares in the last quarter. Institutional investors own 65.81% of the company's stock.

About Washington Trust Bancorp

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.