Washington Trust Bancorp (NASDAQ:WASH) Upgraded to Hold by StockNews.com

Washington Trust Bancorp (NASDAQ:WASH) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Thursday.

Separately, Seaport Res Ptn cut Washington Trust Bancorp from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 31st.

Washington Trust Bancorp Price Performance

WASH opened at $26.14 on Thursday. Washington Trust Bancorp has a 12-month low of $21.69 and a 12-month high of $33.96. The company has a market cap of $445.16 million, a price-to-earnings ratio of 9.66 and a beta of 0.81. The stock has a fifty day simple moving average of $25.78 and a two-hundred day simple moving average of $27.21. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 2.57.

Washington Trust Bancorp (NASDAQ:WASH) last released its earnings results on Wednesday, January 24th. The financial services provider reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.22. Washington Trust Bancorp had a return on equity of 10.18% and a net margin of 12.01%. The firm had revenue of $45.96 million for the quarter, compared to analysts’ expectations of $47.38 million. Research analysts predict that Washington Trust Bancorp will post 1.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Barrett & Company Inc. raised its stake in shares of Washington Trust Bancorp by 37.7% in the third quarter. Barrett & Company Inc. now owns 4,010 shares of the financial services provider’s stock worth $106,000 after buying an additional 1,097 shares during the period. SG Americas Securities LLC purchased a new position in Washington Trust Bancorp during the 4th quarter valued at approximately $179,000. Quest Partners LLC purchased a new position in Washington Trust Bancorp during the 4th quarter valued at approximately $186,000. EP Wealth Advisors LLC purchased a new position in Washington Trust Bancorp during the 4th quarter valued at approximately $259,000. Finally, Retirement Planning Co of New England Inc. purchased a new position in Washington Trust Bancorp during the 3rd quarter valued at approximately $240,000. Institutional investors own 65.81% of the company’s stock.

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.