Kathleen A. Ryan Sells 544 Shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) Stock

Washington Trust Bancorp, Inc. (NASDAQ:WASH) EVP Kathleen A. Ryan sold 544 shares of the firm’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $27.65, for a total value of $15,041.60. Following the completion of the sale, the executive vice president now directly owns 8,885 shares of the company’s stock, valued at approximately $245,670.25. This trade represents a 5.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Washington Trust Bancorp Stock Up 1.4%

Shares of NASDAQ:WASH opened at $28.14 on Wednesday. The stock has a 50-day simple moving average of $27.78 and a 200-day simple moving average of $30.81. The stock has a market capitalization of $542.85 million, a P/E ratio of -18.15 and a beta of 0.91. The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.10 and a current ratio of 1.10. Washington Trust Bancorp, Inc. has a 1 year low of $24.70 and a 1 year high of $40.59.

Washington Trust Bancorp (NASDAQ:WASH) last released its quarterly earnings results on Monday, April 21st. The financial services provider reported $0.61 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.01). Washington Trust Bancorp had a positive return on equity of 8.99% and a negative net margin of 6.90%. The company had revenue of $59.07 million for the quarter, compared to analyst estimates of $53.16 million. Equities analysts forecast that Washington Trust Bancorp, Inc. will post 2.76 earnings per share for the current year.

Washington Trust Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 7.96%. The ex-dividend date was Tuesday, April 1st. Washington Trust Bancorp’s payout ratio is -143.59%.

Institutional Investors Weigh In On Washington Trust Bancorp

Institutional investors have recently made changes to their positions in the company. Proficio Capital Partners LLC bought a new stake in shares of Washington Trust Bancorp in the 4th quarter valued at approximately $1,955,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Washington Trust Bancorp in the fourth quarter worth $369,000. BNP Paribas Financial Markets boosted its stake in Washington Trust Bancorp by 17.9% during the fourth quarter. BNP Paribas Financial Markets now owns 16,170 shares of the financial services provider’s stock valued at $507,000 after buying an additional 2,455 shares in the last quarter. Teacher Retirement System of Texas bought a new position in Washington Trust Bancorp during the fourth quarter valued at about $676,000. Finally, Franklin Resources Inc. purchased a new stake in shares of Washington Trust Bancorp during the fourth quarter valued at $6,824,000. 65.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on WASH. Keefe, Bruyette & Woods cut their price target on Washington Trust Bancorp from $34.00 to $31.00 and set a “market perform” rating for the company in a research note on Tuesday, April 22nd. Bank of America assumed coverage on Washington Trust Bancorp in a report on Wednesday, May 28th. They issued a “neutral” rating and a $28.00 price target for the company. Finally, Seaport Res Ptn upgraded Washington Trust Bancorp from a “hold” rating to a “strong-buy” rating in a report on Friday, March 14th. Four analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Washington Trust Bancorp currently has an average rating of “Hold” and an average price target of $31.00.

About Washington Trust Bancorp

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.