Washington Trust Bancorp (NASDAQ:WASH) Director H Douglas Randall III sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $51.93, for a total value of $51,930.00. Following the sale, the director now owns 22,248 shares of the company’s stock, valued at approximately $1,155,338.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
WASH stock opened at $51.90 on Friday. The company has a market cap of $904.33 million, a P/E ratio of 13.87 and a beta of 0.66. Washington Trust Bancorp has a fifty-two week low of $50.00 and a fifty-two week high of $63.25. The company has a debt-to-equity ratio of 1.99, a current ratio of 1.06 and a quick ratio of 1.08.
Washington Trust Bancorp (NASDAQ:WASH) last posted its earnings results on Monday, October 22nd. The financial services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.03. The firm had revenue of $48.66 million during the quarter. Washington Trust Bancorp had a return on equity of 15.64% and a net margin of 25.69%.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Monday, October 1st were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 3.31%. The ex-dividend date was Friday, September 28th.
A number of hedge funds have recently bought and sold shares of the stock. Affinity Investment Advisors LLC lifted its stake in Washington Trust Bancorp by 31.1% during the third quarter. Affinity Investment Advisors LLC now owns 8,265 shares of the financial services provider’s stock worth $457,000 after purchasing an additional 1,962 shares during the last quarter. BlackRock Inc. lifted its stake in Washington Trust Bancorp by 1.9% during the third quarter. BlackRock Inc. now owns 1,118,776 shares of the financial services provider’s stock worth $61,868,000 after purchasing an additional 20,580 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Washington Trust Bancorp by 2.1% during the third quarter. Bank of New York Mellon Corp now owns 118,213 shares of the financial services provider’s stock worth $6,537,000 after purchasing an additional 2,462 shares during the last quarter. Prudential Financial Inc. lifted its stake in Washington Trust Bancorp by 20.9% during the third quarter. Prudential Financial Inc. now owns 29,770 shares of the financial services provider’s stock worth $1,646,000 after purchasing an additional 5,140 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Washington Trust Bancorp by 9.3% during the third quarter. JPMorgan Chase & Co. now owns 282,783 shares of the financial services provider’s stock worth $15,637,000 after purchasing an additional 24,151 shares during the last quarter. Hedge funds and other institutional investors own 57.66% of the company’s stock.
WASH has been the subject of several recent analyst reports. Sandler O’Neill upgraded Washington Trust Bancorp from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Thursday, October 4th. BidaskClub upgraded Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, July 24th.
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About Washington Trust Bancorp
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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