Washington Trust Bancorp (NASDAQ:WASH) Stock Rating Upgraded by StockNews.com

Washington Trust Bancorp (NASDAQ:WASH) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Thursday.

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

Washington Trust Bancorp Trading Up 0.6 %

Shares of WASH stock 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 current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 2.57. The firm’s 50 day moving average is $25.78 and its 200 day moving average is $27.21. The stock has a market capitalization of $445.16 million, a P/E ratio of 9.66 and a beta of 0.81.

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

Hedge Funds Weigh In On Washington Trust Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in WASH. Barrett & Company Inc. grew its stake in shares of Washington Trust Bancorp by 37.7% in the 3rd 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 in the last quarter. SG Americas Securities LLC purchased a new position in shares of Washington Trust Bancorp in the 4th quarter worth $179,000. Quest Partners LLC purchased a new position in shares of Washington Trust Bancorp in the 4th quarter worth $186,000. Retirement Planning Co of New England Inc. purchased a new position in shares of Washington Trust Bancorp in the 3rd quarter worth $240,000. Finally, EP Wealth Advisors LLC purchased a new position in shares of Washington Trust Bancorp during the 4th quarter worth about $259,000. 65.81% of the stock is owned by hedge funds and other 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 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.