Washington Trust Bancorp, Inc. (NASDAQ:WASH) Given Consensus Recommendation of "Moderate Buy" by Analysts

Washington Trust Bancorp, Inc. (NASDAQ:WASH - Get Free Report) has earned a consensus rating of "Moderate Buy" from the four brokerages that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $31.00.

WASH has been the topic of a number of analyst reports. Bank of America started coverage on Washington Trust Bancorp in a research report on Wednesday, May 28th. They issued a "neutral" rating and a $28.00 price target on the stock. Keefe, Bruyette & Woods reduced their price target on shares of 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. Finally, Seaport Res Ptn raised shares of Washington Trust Bancorp from a "hold" rating to a "strong-buy" rating in a report on Friday, March 14th.

Washington Trust Bancorp Price Performance

NASDAQ:WASH opened at $29.62 on Friday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.03 and a current ratio of 1.03. The company has a 50-day moving average of $28.15 and a 200-day moving average of $29.78. Washington Trust Bancorp has a 52 week low of $24.95 and a 52 week high of $40.59. The company has a market capitalization of $571.27 million, a price-to-earnings ratio of -18.98, a PEG ratio of 0.93 and a beta of 0.90.

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 analysts' consensus estimates of $0.62 by ($0.01). Washington Trust Bancorp had a positive return on equity of 8.82% and a negative net margin of 6.60%. The business had revenue of $59.07 million for the quarter, compared to the consensus estimate of $53.16 million. As a group, equities research analysts anticipate that Washington Trust Bancorp will post 2.76 earnings per share for the current fiscal year.

Washington Trust Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be issued a $0.56 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 7.56%. Washington Trust Bancorp's dividend payout ratio is -143.59%.

Institutional Investors Weigh In On Washington Trust Bancorp

A number of hedge funds have recently added to or reduced their stakes in WASH. Ransom Advisory Ltd acquired a new position in shares of Washington Trust Bancorp during the first quarter worth approximately $40,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Washington Trust Bancorp by 17.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,351 shares of the financial services provider's stock worth $350,000 after buying an additional 1,708 shares in the last quarter. EJF Capital LLC boosted its position in Washington Trust Bancorp by 1.7% in the 1st quarter. EJF Capital LLC now owns 89,265 shares of the financial services provider's stock valued at $2,755,000 after buying an additional 1,494 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Washington Trust Bancorp by 5.0% in the 1st quarter. AQR Capital Management LLC now owns 190,729 shares of the financial services provider's stock valued at $5,886,000 after buying an additional 9,032 shares during the period. Finally, EP Wealth Advisors LLC raised its position in shares of Washington Trust Bancorp by 97.8% during the first quarter. EP Wealth Advisors LLC now owns 15,795 shares of the financial services provider's stock worth $487,000 after acquiring an additional 7,808 shares during the last quarter. 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.

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