Shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) have earned a consensus 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 rating.
Zacks has also assigned Washington Trust Bancorp an industry rank of 166 out of 265 based on the ratings given to related companies.
Separately, BidaskClub lowered shares of Washington Trust Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, January 26th.
Washington Trust Bancorp (NASDAQ:WASH) last posted its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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.
The business also recently announced a quarterly dividend, which was paid on Friday, April 13th. Shareholders of record on Monday, April 2nd were given a $0.43 dividend. The ex-dividend date of this dividend was Thursday, March 29th. This represents a $1.72 dividend on an annualized basis and a yield of 3.05%. This is a positive change from Washington Trust Bancorp’s previous quarterly dividend of $0.39.
Institutional investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new position in shares of Washington Trust Bancorp during the third quarter valued at $128,000. Teacher Retirement System of Texas bought a new position in shares of Washington Trust Bancorp during the fourth quarter valued at $282,000. MetLife Investment Advisors LLC bought a new position in shares of Washington Trust Bancorp during the fourth quarter valued at $411,000. Goldman Sachs Group Inc. raised its stake in shares of Washington Trust Bancorp by 136.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 9,848 shares of the financial services provider’s stock valued at $524,000 after acquiring an additional 5,685 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Washington Trust Bancorp by 34.3% during the third quarter. Wells Fargo & Company MN now owns 23,777 shares of the financial services provider’s stock valued at $1,361,000 after acquiring an additional 6,067 shares during the last quarter. Hedge funds and other institutional investors own 57.07% of the company’s stock.
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Washington Trust Bancorp Company Profile
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.
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