NASDAQ:WASHWashington Trust Bancorp Stock Price, Forecast & News

$31.98

+0.32 (+1.01 %)

(As of 06/3/2020 04:00 PM ET)

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Today's Range

$31.55

Now: $31.98▼

$32.48

50-Day Range

$27.99

MA: $32.10▼

$38.82

52-Week Range

$25.86

Now: $31.98▼

$54.96

Volume80,000 shs

Average Volume74,992 shs

Market Capitalization$551.91 million

P/E Ratio8.79

Dividend Yield6.38%

Beta0.59

Washington Trust Bancorp, Inc. operates as the bank holding company for The Washington Trust Company, of Westerly that offers various financial products and 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, which include commercial real estate loans consisting of commercial mortgages and construction loans; commercial and industrial loans; residential real estate 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, ATM, telephone and 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, and mutual funds clients. The company also operates as a licensed broker-dealer that offers variable annuities, college savings plans, and mutual funds. As of December 31, 2018, it had 10 branch offices located in southern Rhode Island; 11 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.

Beat the Market (BTM) Rank^™

3.3 Analyst's Opinion

Consensus Rating
Washington Trust Bancorp has received a consensus rating of Buy. The company's average rating score is 2.50, and is based on 1 buy rating, 1 hold rating, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $47.50, Washington Trust Bancorp has a potential upside of 48.5% from its current price of $31.98.
Amount of Analyst Coverage
Washington Trust Bancorp has only been the subject of 1 research reports in the past 90 days.

2.0 Community Rank

Outperform Votes
Washington Trust Bancorp has received 174 “outperform” votes. (Add your “outperform” vote.)
Underperform Votes
Washington Trust Bancorp has received 252 “underperform” votes. (Add your “underperform” vote.)
Community Sentiment
Washington Trust Bancorp has received 59.15% “underperform” votes from our community.

MarketBeat's community ratings are surveys of what our community members think about Washington Trust Bancorp and other stocks. Vote “Outperform” if you believe WASH will outperform the S&P 500 over the long term. Vote “Underperform” if you believe WASH will underperform the S&P 500 over the long term. You may vote once every thirty days.

4.2 Dividend Strength

Dividend Leadership
Washington Trust Bancorp is a leading dividend payer. It pays a dividend yield of 6.38%, putting its dividend yield in the top 25% of dividend-paying stocks.
Dividend Growth
Washington Trust Bancorp has been increasing its dividend for 9 years.
Dividend Coverage
The dividend payout ratio of Washington Trust Bancorp is 51.52 %. 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 73.65 % next year. This indicates that Washington Trust Bancorp will be able to sustain or increase its dividend.

1.0 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 2.28% of the stock of Washington Trust Bancorp is held by insiders.
Percentage Held by Institutions
72.06% 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.

1.9 Earnings and Valuation

Earnings Growth
Earnings for Washington Trust Bancorp are expected to grow by 2.59% in the coming year, from $2.70 to $2.77 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Washington Trust Bancorp is 8.79, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 16.10.
Price to Earnings Ratio vs. Sector
The P/E ratio of Washington Trust Bancorp is 8.79, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 19.62.
Price to Book Value per Share Ratio
Washington Trust Bancorp has a P/B Ratio of 1.10. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Overall Beat the Market Rank^™

2.46 out of 5 stars

Industry, Sector and Symbol

Stock Exchange NASDAQ

Industry State commercial banks

Sub-IndustryRegional Banks

SectorFinance

Current SymbolNASDAQ:WASH

Previous Symbol

CUSIP94061010

CIK737468

Webwww.washtrust.com

Phone401-348-1200

Debt

Debt-to-Equity Ratio2.46

Current Ratio1.16

Quick Ratio1.14

Price-To-Earnings

Trailing P/E Ratio8.79

Forward P/E Ratio11.84

P/E GrowthN/A

Sales & Book Value

Annual Sales$264.74 million

Price / Sales2.08

Cash Flow$4.52 per share

Price / Cash Flow7.07

Book Value$29.01 per share

Price / Book1.10

Profitability

EPS (Most Recent Fiscal Year)$3.96

Net Income$69.12 million

Net Margins23.81%

Return on Equity12.72%

Return on Assets1.19%

Miscellaneous

Employees601

Outstanding Shares17,258,000

Market Cap$551.91 million

Next Earnings Date7/27/2020 (Estimated)

OptionableOptionable

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Washington Trust Bancorp (NASDAQ:WASH) Frequently Asked Questions

How has Washington Trust Bancorp's stock been impacted by COVID-19 (Coronavirus)?

Washington Trust Bancorp's stock was trading at $35.75 on March 11th, 2020 when COVID-19 (Coronavirus) reached pandemic status according to the World Health Organization (WHO). Since then, WASH shares have decreased by 10.5% and is now trading at $31.98. View which stocks have been most impacted by Coronavirus.

Do Wall Street analysts recommend investors buy shares of Washington Trust Bancorp?

2 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Washington Trust Bancorp in the last year. There are currently 1 hold rating and 1 buy rating for the stock, resulting in a consensus recommendation of "Buy." View analyst ratings for Washington Trust Bancorp.

When is Washington Trust Bancorp's next earnings date?

Washington Trust Bancorp is scheduled to release its next quarterly earnings announcement on Monday, July 27th 2020. View our earnings forecast for Washington Trust Bancorp.

How were Washington Trust Bancorp's earnings last quarter?

Washington Trust Bancorp (NASDAQ:WASH) posted its quarterly earnings results on Monday, April, 27th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.70 by $0.02. The financial services provider had revenue of $52.53 million for the quarter, compared to analysts' expectations of $48.13 million. Washington Trust Bancorp had a return on equity of 12.72% and a net margin of 23.81%. View Washington Trust Bancorp's earnings history.

How often does Washington Trust Bancorp pay dividends? What is the dividend yield for Washington Trust Bancorp?

Washington Trust Bancorp announced a quarterly dividend on Friday, March 20th. Investors of record on Wednesday, April 1st will be given a dividend of $0.51 per share on Thursday, April 9th. This represents a $2.04 dividend on an annualized basis and a yield of 6.38%. The ex-dividend date of this dividend is Tuesday, March 31st. View Washington Trust Bancorp's dividend history.

What price target have analysts set for WASH?

2 equities research analysts have issued 12 month target prices for Washington Trust Bancorp's shares. Their forecasts range from $40.00 to $55.00. On average, they expect Washington Trust Bancorp's stock price to reach $47.50 in the next year. This suggests a possible upside of 48.5% from the stock's current price. View analysts' price targets for Washington Trust Bancorp.

Has Washington Trust Bancorp been receiving favorable news coverage?

Media headlines about WASH stock have trended very negative recently, InfoTrie Sentiment Analysis reports. The research firm rates the sentiment of press coverage by reviewing more than six thousand news and blog sources in real-time. The firm ranks coverage of public companies on a scale of negative five to positive five, with scores closest to five being the most favorable. Washington Trust Bancorp earned a coverage optimism score of -3.1 on InfoTrie's scale. They also gave media headlines about the financial services provider a news buzz of 10.0 out of 10, meaning that recent press coverage is extremely likely to have an impact on the company's share price in the immediate future. View the latest news aboutWashington Trust Bancorp.

Are investors shorting Washington Trust Bancorp?

Washington Trust Bancorp saw a drop in short interest in the month of May. As of May 15th, there was short interest totaling 160,200 shares, a drop of 36.3% from the April 30th total of 251,300 shares. Based on an average daily volume of 78,200 shares, the short-interest ratio is currently 2.0 days. Approximately 1.1% of the shares of the company are sold short. View Washington Trust Bancorp's Current Options Chain.

Who are some of Washington Trust Bancorp's key competitors?

Some companies that are related to Washington Trust Bancorp include Truist Financial (TFC), PNC Financial Services Group (PNC), SunTrust Banks (STI), First Republic Bank (FRC), Fifth Third Bancorp (FITB), M&T Bank (MTB), KeyCorp (KEY), Regions Financial (RF), SVB Financial Group (SIVB), Huntington Bancshares (HBAN), Commerce Bancshares (CBSH), Prosperity Bancshares (PB), Signature Bank (SBNY), Zions Bancorporation NA (ZION) and East West Bancorp (EWBC). View all competitors.

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), Alibaba Group (BABA), Intelsat (I), Omega Healthcare Investors (OHI), Bank of America (BAC), Standex Int'l (SXI), Bank of Montreal (BMO) and Apollo Global Management (APO).

Who are Washington Trust Bancorp's key executives?

Washington Trust Bancorp's management team includes the following people:

Mr. Edward O. Handy III, Chairman & CEO (Age 57)
Mr. Mark K. W. Gim, Pres & COO (Age 53)
Mr. Ronald S. Ohsberg CPA, Sr. EVP, CFO & Treasurer (Age 54)
Mr. James M. Hagerty CPA, Exec. VP & Chief Lending Officer of Washington Trust Company of Westerly (Age 61)
Ms. Kathleen A. Ryan Esq., Exec. VP & Chief Wealth Management Officer of Washington Trust Company of Westerly (Age 53)

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 many different retail and institutional investors. Top institutional shareholders include Bank of New York Mellon Corp (10.76%), BlackRock Inc. (6.90%), Principal Financial Group Inc. (5.87%), Champlain Investment Partners LLC (4.99%), WASHINGTON TRUST Co (4.69%) and Franklin Resources Inc. (4.68%). Company insiders that own Washington Trust Bancorp stock include Edwin J Santos, H Douglas Randall III, James M Hagerty, John F Treanor, John T Ruggieri, Katherine W Hoxsie and Mary E Noons. View institutional ownership trends for Washington Trust Bancorp.

Which major investors are selling Washington Trust Bancorp stock?

WASH stock was sold by a variety of institutional investors in the last quarter, including Bank of New York Mellon Corp, Principal Financial Group Inc., Systematic Financial Management LP, The Manufacturers Life Insurance Company , Morgan Stanley, UBS Group AG, Spark Investment Management LLC, and Parametric Portfolio Associates LLC. View insider buying and selling activity for Washington Trust Bancorp.

Which major investors are buying Washington Trust Bancorp stock?

WASH stock was bought by a variety of institutional investors in the last quarter, including Drexel Morgan & Co., JPMorgan Chase & Co., BlackRock Inc., Franklin Resources Inc., Geode Capital Management LLC, DE Burlo Group Inc., GSA Capital Partners LLP, and Advisor Group Holdings Inc.. View insider buying and selling activity for Washington Trust Bancorp.

How do I buy shares of Washington Trust Bancorp?

Shares of WASH can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.

What is Washington Trust Bancorp's stock price today?

One share of WASH stock can currently be purchased for approximately $31.98.

How big of a company is Washington Trust Bancorp?

Washington Trust Bancorp has a market capitalization of $551.91 million and generates $264.74 million in revenue each year. The financial services provider earns $69.12 million in net income (profit) each year or $3.96 on an earnings per share basis. Washington Trust Bancorp employs 601 workers across the globe.

What is Washington Trust Bancorp's official website?

The official website for Washington Trust Bancorp is www.washtrust.com.

How can I contact Washington Trust Bancorp?

Washington Trust Bancorp's mailing address is 23 BROAD STREET, WESTERLY RI, 02891. The financial services provider can be reached via phone at 401-348-1200 or via email at [email protected]

This page was last updated on 6/3/2020 by MarketBeat.com Staff