Zacks: Washington Trust Bancorp, Inc. (WASH) Given Average Rating of “Strong Buy” by Analysts

Shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) have been assigned 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 recommendation.

Zacks has also assigned Washington Trust Bancorp an industry rank of 156 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 note on Friday, January 26th.

Shares of Washington Trust Bancorp stock traded up $0.45 during trading on Tuesday, hitting $57.00. The company’s stock had a trading volume of 24,197 shares, compared to its average volume of 35,556. The firm has a market cap of $977.50 million, a price-to-earnings ratio of 17.36 and a beta of 0.72. The company has a debt-to-equity ratio of 2.01, a current ratio of 1.07 and a quick ratio of 1.06. Washington Trust Bancorp has a 52 week low of $47.00 and a 52 week high of $59.10.

The business also recently declared a quarterly dividend, which was paid on Friday, April 13th. Stockholders of record on Monday, April 2nd were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date was Thursday, March 29th. This is an increase from Washington Trust Bancorp’s previous quarterly dividend of $0.39.

In other news, Director Edwin J. Santos sold 800 shares of the firm’s stock in a transaction dated Monday, April 30th. The shares were sold at an average price of $55.63, for a total transaction of $44,504.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.33% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Affinity Investment Advisors LLC boosted its holdings in shares of Washington Trust Bancorp by 45.4% in the first quarter. Affinity Investment Advisors LLC now owns 6,303 shares of the financial services provider’s stock worth $339,000 after buying an additional 1,967 shares during the last quarter. Prudential Financial Inc. boosted its holdings in shares of Washington Trust Bancorp by 21.3% in the first quarter. Prudential Financial Inc. now owns 27,211 shares of the financial services provider’s stock worth $1,463,000 after buying an additional 4,770 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Washington Trust Bancorp by 61.9% in the first quarter. Victory Capital Management Inc. now owns 46,031 shares of the financial services provider’s stock worth $2,474,000 after buying an additional 17,599 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Washington Trust Bancorp by 6.3% in the first quarter. Wells Fargo & Company MN now owns 28,440 shares of the financial services provider’s stock worth $1,529,000 after buying an additional 1,684 shares during the last quarter. Finally, New England Professional Planning Group Inc. boosted its holdings in shares of Washington Trust Bancorp by 44.3% in the first quarter. New England Professional Planning Group Inc. now owns 10,174 shares of the financial services provider’s stock worth $563,000 after buying an additional 3,122 shares during the last quarter. 56.81% of the stock is currently 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 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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