NASDAQ:WASH

Washington Trust Bancorp - WASH Stock Forecast, Price & News

$55.73

+0.12 (+0.22%)

(As of 08/17/2022 12:00 AM ET)

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Today's Range: $55.04
▼
$55.73
50-Day Range: $47.86
▼
$55.73
52-Week Range: $45.60
▼
$60.96

Volume: 45,386 shs
Average Volume: 57,159 shs
Market Capitalization: $956.94 million

P/E Ratio: 12.96
Dividend Yield: 3.88%
Price Target: $58.00

Washington Trust Bancorp MarketRank™ Forecast

Analyst Rating: Hold
2.33 Rating Score
Upside/Downside: 4.1% Upside
$58.00 Price Target
Short Interest: Bearish
3.67% of Float Sold Short
Dividend Strength: Strong
Based on Four Factors
Sustainability: N/A
News Sentiment: N/A
Insider Trading: N/A
Proj. Earnings Growth: 8.11%
From $4.19 to $4.53 Per Share

Overall MarketRank^™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.07 out of 5 stars

Finance Sector

622nd out of 932 stocks

State Commercial Banks Industry

140th out of 194 stocks

1.2

Analyst's Opinion

Consensus Rating
Washington Trust Bancorp has received a consensus rating of Hold. The company's average rating score is 2.33, and is based on 1 buy rating, 2 hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $58.00, Washington Trust Bancorp has a forecasted upside of 4.1% from its current price of $55.73.
Amount of Analyst Coverage
Washington Trust Bancorp has only been the subject of 1 research reports in the past 90 days.

2.0

Short Interest

Percentage of Shares Shorted
3.67% of the float of Washington Trust Bancorp has been sold short.
Short Interest Ratio / Days to Cover
Washington Trust Bancorp has a short interest ratio ("days to cover") of 9.2.
Change versus previous month
Short interest in Washington Trust Bancorp has recently increased by 2.43%, indicating that investor sentiment is decreasing.

5.0

Dividend Strength

Dividend Leadership
Washington Trust Bancorp is a leading dividend payer. It pays a dividend yield of 3.88%, putting its dividend yield in the top 25% of dividend-paying stocks.
Dividend Growth
Washington Trust Bancorp has been increasing its dividend for 12 years.
Dividend Coverage
The dividend payout ratio of Washington Trust Bancorp is 50.23%. This payout ratio is at a healthy, sustainable level, below 75%.
Dividend Sustainability
Based on earnings estimates, Washington Trust Bancorp will have a dividend payout ratio of 47.68% next year. This indicates that Washington Trust Bancorp will be able to sustain or increase its dividend.

N/A

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
There is no current Upright™ data available for WASH.

1.5

News and Social Media Coverage

News Sentiment
Washington Trust Bancorp has a news sentiment score of 0.71. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This news sentiment score is similar to the average news sentiment of Finance companies.
News Coverage This Week
MarketBeat has tracked 1 news article for Washington Trust Bancorp this week, compared to 4 articles on an average week.
Search Interest
Only 1 people have searched for WASH on MarketBeat in the last 30 days. This is a decrease of -88% compared to the previous 30 days.
MarketBeat Follows
Only 1 people have added Washington Trust Bancorp to their MarketBeat watchlist in the last 30 days. This is a decrease of 0% compared to the previous 30 days.

1.7

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Washington Trust Bancorp insiders have not sold or bought any company stock.
Percentage Held by Insiders
Only 1.42% of the stock of Washington Trust Bancorp is held by insiders.
Percentage Held by Institutions
77.37% of the stock of Washington Trust Bancorp is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

2.5

Earnings and Valuation

Earnings Growth
Earnings for Washington Trust Bancorp are expected to grow by 8.11% in the coming year, from $4.19 to $4.53 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Washington Trust Bancorp is 12.96, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 130.15.
Price to Earnings Ratio vs. Sector
The P/E ratio of Washington Trust Bancorp is 12.96, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 149.24.
Price to Book Value per Share Ratio
Washington Trust Bancorp has a P/B Ratio of 2.01. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About Washington Trust Bancorp (NASDAQ:WASH) Stock

Washington Trust Bancorp, Inc. operates as the bank holding company for The Washington Trust Company, of Westerly that offers 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 provides various commercial and retail lending products, such as commercial real estate loans, including commercial mortgages and construction loans; commercial and industrial loans; 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. This segment also offers deposit accounts, including interest-bearing and noninterest-bearing demand deposits, NOW and savings accounts, money market and retirement deposit accounts, and time deposits, as well as debit card, automated teller machine, telephone banking, internet banking, mobile banking, remote deposit capture, and other cash management services. The Wealth Management Services segment provides investment management; financial planning; personal trust and estate services, such as trustee, personal representative, custodian, and guardian; and settlement of decedents' estates, as well as institutional trust services comprising custody and fiduciary services. This segment serves personal and institutional clients. The company also operates as a licensed broker-dealer; and offers variable annuities and college savings plans. As of December 31, 2021, it had 10 branch offices located in southern Rhode Island, 13 branch offices located in the greater Providence area in Rhode Island, and 1 branch office located in southeastern Connecticut. Washington Trust Bancorp, Inc. was founded in 1800 and is headquartered in Westerly, Rhode Island.

Washington Trust Bancorp Price Performance

NASDAQ:WASH opened at $55.73 on Thursday. Washington Trust Bancorp has a 12 month low of $45.60 and a 12 month high of $60.96. The stock has a 50 day moving average of $50.69 and a two-hundred day moving average of $51.31. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.74. The firm has a market cap of $956.94 million, a P/E ratio of 12.96 and a beta of 0.77.

Washington Trust Bancorp (NASDAQ:WASH - Get Rating) last posted its quarterly earnings data on Monday, July 25th. The financial services provider reported $1.14 EPS for the quarter, topping the consensus estimate of $0.91 by $0.23. Washington Trust Bancorp had a return on equity of 14.28% and a net margin of 31.97%. During the same quarter last year, the company posted $1.00 earnings per share. On average, analysts expect that Washington Trust Bancorp will post 4.19 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, July 8th. Shareholders of record on Friday, July 1st were paid a dividend of $0.54 per share. The ex-dividend date was Thursday, June 30th. This represents a $2.16 annualized dividend and a yield of 3.88%. Washington Trust Bancorp's dividend payout ratio (DPR) is currently 50.23%.

Analyst Ratings Changes

Several equities analysts recently weighed in on WASH shares. StockNews.com upgraded Washington Trust Bancorp from a "sell" rating to a "hold" rating in a research note on Monday, July 18th. Compass Point lifted their price target on Washington Trust Bancorp to $60.00 and gave the company an "outperform" rating in a research note on Wednesday, July 27th.

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WASH Stock News Headlines

August 9, 2022 | finance.yahoo.com

Washington Trust Opens Cumberland, RI Branch

August 8, 2022 | msn.com

Washington Village hosts Britain in Bloom Judges for 2022 finals

August 18, 2022 | Investing Daily (Ad)

27 U.S. Cities Where Stocks Yield 26% a Year

What’s the highest-yielding stock you’ve ever owned? The dividends for these stocks have risen so fast over the years that they’re now yielding us an average of 26%! When you start getting paid 26% on your money, your financial problems tend to pretty much evaporate.

August 3, 2022 | finance.yahoo.com

Those who invested in Washington Trust Bancorp (NASDAQ:WASH) three years ago are up 29%

August 2, 2022 | finance.yahoo.com

Washington Trust Names Crystal Thompson Manager of New Cumberland Branch

August 1, 2022 | msn.com

D.C. attorney general seeks court order to block access to Casa Ruby bank accounts

July 30, 2022 | americanbankingnews.com

Washington Trust Bancorp (NASDAQ:WASH) Sees Strong Trading Volume After Analyst Upgrade

July 28, 2022 | finance.yahoo.com

Washington Trust (WASH) Upgraded to Strong Buy: Here's What You Should Know

August 18, 2022 | Investing Daily (Ad)

27 U.S. Cities Where Stocks Yield 26% a Year

July 28, 2022 | americanbankingnews.com

Compass Point Increases Washington Trust Bancorp (NASDAQ:WASH) Price Target to $60.00

July 28, 2022 | americanbankingnews.com

Washington Trust Bancorp (NASDAQ:WASH) Trading 3.5% Higher on Strong Earnings

July 27, 2022 | msn.com

Trump Meets His New Brain Trust

July 26, 2022 | msn.com

EXCLUSIVE IMF says Bangladesh seeks loan under fund's resilience trust

July 26, 2022 | seekingalpha.com

Washington Trust Bancorp, Inc. (WASH) CEO Ned Handy on Q2 2022 Results - Earnings Call Transcript

July 25, 2022 | finance.yahoo.com

Washington Trust Reports Second Quarter 2022 Earnings

July 25, 2022 | finance.yahoo.com

Washington Trust Bancorp (WASH) Q2 Earnings Surpass Estimates

July 24, 2022 | markets.businessinsider.com

Here's what Wall Street expects from Washington Trust Bancor's earnings

July 22, 2022 | msn.com

Earnings Preview: Washington Trust Bancorp

July 21, 2022 | finance.yahoo.com

Independent Bank Corp. (INDB) Q2 Earnings and Revenues Surpass Estimates

July 20, 2022 | msn.com

Stablecoins to face bank-like U.S. regulation under draft House bill - source

July 20, 2022 | bizjournals.com

Trustar Bank in Great Falls raises $18 million to fund continued expansion

July 10, 2022 | reuters.com

DIARY-Top Economic Events to Sept 29

July 8, 2022 | bizjournals.com

WSFS sells Bryn Mawr Trust insurance division to Montgomery County firm just months after merger

July 6, 2022 | apnews.com

Asa Named as a Winner in the BECU Fintech Incubator Competition, Powered by CoMotion at the University of Washington

July 3, 2022 | msn.com

Washington led July 4 celebration in this N.J. town. Work underway to save a piece of history.

June 29, 2022 | reuters.com

Two gunmen killed, six officers wounded in shootout at Canadian bank

June 22, 2022 | forbes.com

PNC Bank Mortgage Review 2022

See More Headlines

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WASH Company Calendar

Ex-Dividend for 7/8 Dividend: 6/30/2022
Dividend Payable: 7/08/2022
Last Earnings: 7/25/2022
Today: 8/17/2022
Next Earnings (Estimated): 10/24/2022
Fiscal Year End: 12/31/2022

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Industry, Sector and Symbol

Stock Exchange: NASDAQ
Industry: State commercial banks
Sub-Industry: Regional Banks
Sector: Finance
Current Symbol: NASDAQ:WASH
CUSIP: 94061010
CIK: 737468
Web: www.washtrust.com
Phone: (401) 348-1200
Fax: 401-348-1262
Employees: 623
Year Founded: 1800

Price Target and Rating

Average Stock Price Forecast: $58.00
High Stock Price Forecast: $60.00
Low Stock Price Forecast: $56.00
Forecasted Upside/Downside: +4.1%
Consensus Rating: Hold
Rating Score (0-4): 2.33
Research Coverage: 3 Analysts

Profitability

EPS (Most Recent Fiscal Year): $4.30
Trailing P/E Ratio: 12.96
Forward P/E Ratio: 13.30
P/E Growth: N/A
Net Income: $76.87 million
Net Margins: 31.97%
Pretax Margin: 40.72%
Return on Equity: 14.28%
Return on Assets: 1.27%

Debt

Debt-to-Equity Ratio: 0.74
Current Ratio: 0.91
Quick Ratio: 0.91

Sales & Book Value

Annual Sales: $245.39 million
Price / Sales: 3.90
Cash Flow: $4.87 per share
Price / Cash Flow: 11.45
Book Value: $27.76 per share
Price / Book: 2.01

Miscellaneous

Outstanding Shares: 17,171,000
Free Float: 16,927,000
Market Cap: $956.94 million
Optionable: Optionable
Beta: 0.77

Social Links

Key Executives

Mr. Edward Otis Handy III (Age 60)
Chairman & CEO
Comp: $1.28M
Mr. Mark Kenyon Wever Gim (Age 56)
Pres & COO
Comp: $633.4k
Mr. Ronald S. Ohsberg CPA (Age 57)
Sr. EVP, CFO & Treasurer
Comp: $511.38k
Ms. Mary E. Noons (Age 60)
Exec. VP & Chief Retail Lending Officer of The Washington Trust Company of Westerly
Comp: $458.64k
Ms. Maria N. Janes CPA (Age 51)
CPA, Exec. VP, Chief Accounting Officer & Controller
Ms. Elizabeth B. Eckel (Age 62)
Sr. VP and Chief Marketing & Corp. Communications Officer
Ms. Kristen L. DiSanto (Age 52)
Sr. EVP, Chief HR Officer & Corp. Sec.
Mr. Joseph M. Confessore
Sr. VP of Wealth Management & Commercial Banking

Key Competitors

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Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions

WASH Stock - Frequently Asked Questions

Should I buy or sell Washington Trust Bancorp stock right now?: 3 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Washington Trust Bancorp in the last twelve months. There are currently 2 hold ratings and 1 buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should "hold" WASH shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in WASH, but not buy additional shares or sell existing shares.
View WASH analyst ratings or view top-rated stocks.
What is Washington Trust Bancorp's stock price forecast for 2022?: 3 brokers have issued 1 year target prices for Washington Trust Bancorp's stock. Their WASH share price forecasts range from $56.00 to $60.00. On average, they expect the company's share price to reach $58.00 in the next twelve months. This suggests a possible upside of 4.1% from the stock's current price.
View analysts price targets for WASH or view top-rated stocks among Wall Street analysts.
How have WASH shares performed in 2022?: Washington Trust Bancorp's stock was trading at $56.37 at the beginning of 2022. Since then, WASH shares have decreased by 1.1% and is now trading at $55.73.
View the best growth stocks for 2022 here.
When is Washington Trust Bancorp's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Monday, October 24th 2022.
View our WASH earnings forecast.
How were Washington Trust Bancorp's earnings last quarter?: Washington Trust Bancorp, Inc. (NASDAQ:WASH) released its quarterly earnings results on Monday, July, 25th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.91 by $0.23. Washington Trust Bancorp had a trailing twelve-month return on equity of 14.28% and a net margin of 31.97%. During the same period last year, the firm earned $1.00 earnings per share.
How often does Washington Trust Bancorp pay dividends? What is the dividend yield for Washington Trust Bancorp?: Washington Trust Bancorp declared a quarterly dividend on Thursday, June 16th. Stockholders of record on Friday, July 1st will be given a dividend of $0.54 per share on Friday, July 8th. This represents a $2.16 annualized dividend and a dividend yield of 3.88%. The ex-dividend date of this dividend is Thursday, June 30th.
Read our dividend analysis for WASH.
Is Washington Trust Bancorp a good dividend stock?: Washington Trust Bancorp (NASDAQ:WASH) pays an annual dividend of $2.16 per share and currently has a dividend yield of 3.88%. The company has been increasing its dividend for 12 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 50.23%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, WASH will have a dividend payout ratio of 47.68% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for WASH.
What is Edward O. Handy III's approval rating as Washington Trust Bancorp's CEO?: 2 employees have rated Washington Trust Bancorp Chief Executive Officer Edward O. Handy III on Glassdoor.com. Edward O. Handy III has an approval rating of 100% among the company's employees. This puts Edward O. Handy III in the top 10% of approval ratings compared to other CEOs of publicly-traded companies.

What other stocks do shareholders of Washington Trust Bancorp own?: Based on aggregate information from My MarketBeat watchlists, some companies that other Washington Trust Bancorp investors own include Walt Disney (DIS), McDonald's (MCD), Q BioMed (QBIO), Bank of America (BAC), Intelsat (I), Omega Healthcare Investors (OHI), Alibaba Group (BABA), Standex International (SXI), Bank of Montreal (BMO) and AT&T (T).
What is Washington Trust Bancorp's stock symbol?: Washington Trust Bancorp trades on the NASDAQ under the ticker symbol "WASH."
Who are Washington Trust Bancorp's major shareholders?: Washington Trust Bancorp's stock is owned by a variety of retail and institutional investors. Top institutional shareholders include Franklin Resources Inc. (5.55%), WASHINGTON TRUST Co (3.93%), State Street Corp (2.72%), JPMorgan Chase & Co. (2.50%), Principal Financial Group Inc. (2.25%) and Boston Trust Walden Corp (1.88%). Insiders that own company stock include Edwin J Santos, James M Hagerty, Joseph J Marcaurele, Joseph J Marcaurele, Katherine W Hoxsie and William K Sr Wray.
View institutional ownership trends.
How do I buy shares of Washington Trust Bancorp?: Shares of WASH stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.
What is Washington Trust Bancorp's stock price today?: One share of WASH stock can currently be purchased for approximately $55.73.
How much money does Washington Trust Bancorp make?: Washington Trust Bancorp (NASDAQ:WASH) has a market capitalization of $956.94 million and generates $245.39 million in revenue each year. The financial services provider earns $76.87 million in net income (profit) each year or $4.30 on an earnings per share basis.
How many employees does Washington Trust Bancorp have?: The company employs 623 workers across the globe.
When was Washington Trust Bancorp founded?: Washington Trust Bancorp was founded in 1800.
How can I contact Washington Trust Bancorp?: Washington Trust Bancorp's mailing address is 23 BROAD STREET, WESTERLY RI, 02891. The official website for the company is www.washtrust.com. The financial services provider can be reached via phone at (401) 348-1200, via email at investor.relations@washtrust.com, or via fax at 401-348-1262.

This page (NASDAQ:WASH) was last updated on 8/18/2022 by MarketBeat.com Staff

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Washington Trust Bancorp - WASH Stock Forecast, Price & News

Washington Trust Bancorp MarketRank™ Forecast

Overall MarketRank™

Analyst's Opinion

Short Interest

Percentage of Shares Shorted

Short Interest Ratio / Days to Cover

Change versus previous month