Shares of Washington Trust Bancorp (NASDAQ:WASH) have earned an average broker rating score of 1.00 (Strong Buy) from the one analysts that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation. Washington Trust Bancorp’s rating score has improved by 66.7% in the last three months as a result of a number of analysts’ upgrades and downgrades.
Zacks has also assigned Washington Trust Bancorp an industry rank of 126 out of 265 based on the ratings given to related companies.
Several equities analysts have recently commented on the stock. BidaskClub raised shares of Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, December 20th. Compass Point raised shares of Washington Trust Bancorp from a “neutral” rating to a “buy” rating in a research report on Monday, December 18th.
Washington Trust Bancorp (NASDAQ:WASH) last issued its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.75 by $0.07. Washington Trust Bancorp had a net margin of 21.38% and a return on equity of 12.76%. The business had revenue of $47.10 million for the quarter.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in WASH. Millennium Management LLC raised its stake in Washington Trust Bancorp by 729.8% during the fourth quarter. Millennium Management LLC now owns 56,482 shares of the financial services provider’s stock worth $3,008,000 after acquiring an additional 49,675 shares during the period. Champlain Investment Partners LLC raised its stake in Washington Trust Bancorp by 1.9% during the fourth quarter. Champlain Investment Partners LLC now owns 861,490 shares of the financial services provider’s stock worth $45,874,000 after acquiring an additional 16,395 shares during the period. Principal Financial Group Inc. raised its stake in Washington Trust Bancorp by 1.5% during the third quarter. Principal Financial Group Inc. now owns 1,111,262 shares of the financial services provider’s stock worth $63,619,000 after acquiring an additional 16,317 shares during the period. Deutsche Bank AG raised its stake in Washington Trust Bancorp by 50.5% during the fourth quarter. Deutsche Bank AG now owns 47,044 shares of the financial services provider’s stock worth $2,502,000 after acquiring an additional 15,782 shares during the period. Finally, State Street Corp raised its stake in Washington Trust Bancorp by 5.2% during the second quarter. State Street Corp now owns 285,368 shares of the financial services provider’s stock worth $14,709,000 after acquiring an additional 14,149 shares during the period. Hedge funds and other institutional investors own 55.90% of the company’s stock.
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Washington Trust Bancorp Company Profile
Washington Trust Bancorp, Inc is a bank holding company and financial holding company. The Company is a holding company of The Washington Trust Company, of Westerly (the Bank), a Rhode Island chartered commercial bank. The Company operates through two business segments: Commercial Banking and Wealth Management Services.
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