StockNews.com upgraded shares of Washington Trust Bancorp (NASDAQ:WASH – Free Report) from a sell rating to a hold rating in a research report sent to investors on Thursday morning.
Separately, Seaport Res Ptn downgraded Washington Trust Bancorp from a buy rating to a neutral rating in a report on Wednesday, January 31st.
View Our Latest Research Report on WASH
Washington Trust Bancorp Trading Down 1.8 %
Washington Trust Bancorp (NASDAQ:WASH – Get Free Report) last issued its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.22. The firm had revenue of $45.96 million for the quarter, compared to analyst estimates of $47.38 million. Washington Trust Bancorp had a return on equity of 10.18% and a net margin of 12.01%. As a group, research analysts predict that Washington Trust Bancorp will post 1.91 earnings per share for the current year.
Washington Trust Bancorp Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Monday, April 1st were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 8.62%. The ex-dividend date was Thursday, March 28th. Washington Trust Bancorp’s payout ratio is presently 82.66%.
Institutional Investors Weigh In On Washington Trust Bancorp
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Barrett & Company Inc. grew its position in Washington Trust Bancorp by 37.7% in the 3rd quarter. Barrett & Company Inc. now owns 4,010 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 1,097 shares in the last quarter. SG Americas Securities LLC bought a new stake in Washington Trust Bancorp in the 4th quarter worth about $179,000. Quest Partners LLC bought a new stake in Washington Trust Bancorp in the 4th quarter worth about $186,000. Retirement Planning Co of New England Inc. bought a new stake in Washington Trust Bancorp in the 3rd quarter worth about $240,000. Finally, EP Wealth Advisors LLC bought a new stake in Washington Trust Bancorp in the 4th quarter worth about $259,000. 65.81% of the stock is owned by institutional investors.
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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