Washington Trust Bancorp, Inc. (NASDAQ:WASH) Receives Consensus Rating of "Hold" from Analysts
Washington Trust Bancorp, Inc. (NASDAQ:WASH) has received a consensus rating of "Hold" from five analysts. The average 1-year price target is $28.33. Recent ratings include a sell from one analyst, three holds, and a strong buy from another. The company reported $0.56 EPS, exceeding estimates, and has a dividend yield of 8.0%. Institutional investors hold 65.81% of the stock. Washington Trust Bancorp operates in commercial banking and wealth management services.
Washington Trust Bancorp, Inc. (NASDAQ:WASH - Get Free Report) has earned an average recommendation of "Hold" from the five analysts that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $28.3333.
Several research firms have recently commented on WASH. Keefe, Bruyette & Woods lifted their target price on Washington Trust Bancorp from $29.00 to $30.00 and gave the company a "market perform" rating in a research note on Wednesday, October 22nd. Weiss Ratings reiterated a "hold (c-)" rating on shares of Washington Trust Bancorp in a research report on Wednesday, October 8th. Finally, Piper Sandler dropped their price objective on Washington Trust Bancorp from $28.00 to $27.00 and set an "underweight" rating for the company in a report on Thursday, October 9th.
View Our Latest Stock Report on WASH
Washington Trust Bancorp Price Performance
Shares of WASH stock opened at $28.16 on Friday. Washington Trust Bancorp has a 1 year low of $24.95 and a 1 year high of $40.59. The company has a current ratio of 1.05, a quick ratio of 1.04 and a debt-to-equity ratio of 1.94. The firm's 50 day moving average is $28.47 and its 200-day moving average is $28.35. The firm has a market capitalization of $539.40 million, a price-to-earnings ratio of -17.71, a PEG ratio of 0.87 and a beta of 0.95.
Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last posted its quarterly earnings data on Monday, October 20th. The financial services provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.10. Washington Trust Bancorp had a negative net margin of 6.22% and a positive return on equity of 8.97%. The firm had revenue of $56.47 million during the quarter, compared to analysts' expectations of $56.39 million. During the same quarter in the previous year, the company posted $0.64 EPS. Sell-side analysts forecast that Washington Trust Bancorp will post 2.76 EPS for the current fiscal year.
Washington Trust Bancorp Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Wednesday, October 1st were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 8.0%. The ex-dividend date was Wednesday, October 1st. Washington Trust Bancorp's dividend payout ratio is currently -140.88%.
Institutional Trading of Washington Trust Bancorp
Institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its stake in shares of Washington Trust Bancorp by 31.1% in the 1st quarter. Bank of New York Mellon Corp now owns 135,403 shares of the financial services provider's stock valued at $4,179,000 after purchasing an additional 32,088 shares during the period. CWM LLC increased its holdings in Washington Trust Bancorp by 134.1% in the first quarter. CWM LLC now owns 11,767 shares of the financial services provider's stock valued at $363,000 after purchasing an additional 6,741 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Washington Trust Bancorp by 15.0% in the first quarter. Victory Capital Management Inc. now owns 30,700 shares of the financial services provider's stock valued at $947,000 after buying an additional 4,000 shares during the period. Napatree Capital LLC boosted its holdings in Washington Trust Bancorp by 10.5% during the first quarter. Napatree Capital LLC now owns 61,606 shares of the financial services provider's stock worth $1,901,000 after buying an additional 5,833 shares during the last quarter. Finally, Retirement Planning Co of New England Inc. acquired a new position in shares of Washington Trust Bancorp during the 1st quarter worth about $575,000. Institutional investors and hedge funds own 65.81% of the company's stock.
About Washington Trust Bancorp
(Get Free Report)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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