Washington Trust Bancorp (NASDAQ:WASH – Get Valuation) its price target was lowered to $53.00 by Piper Sandler in a research report published Wednesday, Stock Target Advisor reports. Piper Sandler’s price target would indicate potential upside of 9.44% from the company’s previous close.
WASH has been the subject of a number of other research reports. StockNews.com upgraded shares of Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, July 18. Compass Point raised its target price on Washington Trust Bancorp shares to $60.00 and gave the stock a “outperform” rating in a report on Wednesday, July 27.
Washington Trust Bancorp declines 0.3%
Shares of WASH stock fell $0.14 during trading hours on Wednesday to hit $48.43. 37,406 shares of the company were traded, compared to an average volume of 56,666. The stock’s 50-day simple moving average is $51.61 and the 200-day simple moving average is $50.16. The stock has a market cap of $831.59 million, a P/E of 11.26 and a beta of 0.77. Washington Trust Bancorp has a 12-month low of $45.60 and a 12-month high of $60.96. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt to equity ratio of 0.74.
Washington Trust Bancorp (NASDAQ:WASH – Get Rating) last released its quarterly earnings results on Monday, July 25th. The financial services firm reported earnings per share (EPS) of $1.14 for the quarter, beating the consensus estimate of $0.89 by $0.25. The company had revenue of $53.37 million for the quarter, compared to the consensus estimate of $53.40 million. Washington Trust Bancorp had a net margin of 31.97% and a return on equity of 14.28%. In the same quarter last year, the company generated earnings per share of $1.00. On average, sell-side analysts expect Washington Trust Bancorp to post 4.19 EPS for the year to date.
Institutional inflows and outflows
A number of hedge funds have recently changed their positions in the business. Captrust Financial Advisors increased its stake in Washington Trust Bancorp by 16,450.0% during the second quarter. Captrust Financial Advisors now owns 662 shares of the financial services provider, valued at $32,000, after purchasing an additional 658 shares last quarter. Great West Life Assurance Co. Can increased its stake in Washington Trust Bancorp by 27.2% in the first quarter. Great West Life Assurance Co. Can now owns 1,530 shares of the financial services provider, valued at $84,000, after buying another 327 shares last quarter. Amalgamated Bank acquired a new position in Washington Trust Bancorp valued at about $108,000 during the first quarter. GSA Capital Partners LLP acquired a new position in Washington Trust Bancorp valued at approximately $204,000 during the fourth quarter. Finally, Bradley Foster & Sargent Inc. CT acquired a new position in Washington Trust Bancorp valued at approximately $209,000 during the fourth quarter. 71.44% of the shares are currently owned by institutional investors and hedge funds.
About Washington Trust Bancorp
Washington Trust Bancorp, Inc acts as the bank holding company for The Washington Trust Company of Westerly, which provides a variety of banking and financial services to individuals and businesses. The Company operates through two segments, Commercial Banking and Wealth Management Services. The Commercial Banking segment offers various commercial and personal lending products such as: B. commercial real estate loans, including commercial mortgages and construction loans; commercial and industrial loans; residential real estate loans, which consist of mortgage loans and homeowner construction loans; and consumer loans, which includes home equity loans and lines of credit, personal installment loans, and loans to individuals secured by general aviation aircraft.
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