Ransom Advisory Ltd Makes New $40,000 Investment in Washington Trust Bancorp, Inc. $WASH

Ransom Advisory Ltd acquired a new position in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,300 shares of the financial services provider’s stock, valued at approximately $40,000.

A number of other institutional investors have also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Washington Trust Bancorp by 3.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,643 shares of the financial services provider’s stock worth $302,000 after acquiring an additional 319 shares during the period. Linden Thomas Advisory Services LLC boosted its position in Washington Trust Bancorp by 1.1% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 36,775 shares of the financial services provider’s stock worth $1,135,000 after acquiring an additional 401 shares during the period. Shepherd Financial Partners LLC boosted its position in Washington Trust Bancorp by 8.8% during the 1st quarter. Shepherd Financial Partners LLC now owns 10,167 shares of the financial services provider’s stock worth $314,000 after acquiring an additional 819 shares during the period. Corebridge Financial Inc. boosted its position in Washington Trust Bancorp by 11.4% during the 1st quarter. Corebridge Financial Inc. now owns 9,380 shares of the financial services provider’s stock worth $289,000 after acquiring an additional 960 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in Washington Trust Bancorp by 11.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,756 shares of the financial services provider’s stock worth $400,000 after acquiring an additional 1,348 shares during the period. 65.81% of the stock is currently owned by institutional investors and hedge funds.

Washington Trust Bancorp Stock Down 0.0%

Shares of Washington Trust Bancorp stock opened at $29.76 on Thursday. The firm has a market cap of $570.20 million, a price-to-earnings ratio of -19.71, a P/E/G ratio of 0.85 and a beta of 0.94. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.05 and a quick ratio of 1.04. Washington Trust Bancorp, Inc. has a 52-week low of $24.95 and a 52-week high of $40.59. The stock has a 50-day simple moving average of $28.82 and a 200-day simple moving average of $28.73.

Washington Trust Bancorp (NASDAQ:WASH) last posted its earnings results on Monday, July 21st. The financial services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.05. Washington Trust Bancorp had a positive return on equity of 9.05% and a negative net margin of 6.10%.The firm had revenue of $54.26 million during the quarter, compared to analyst estimates of $54.07 million. During the same period in the previous year, the company earned $0.63 EPS. On average, equities research analysts expect that Washington Trust Bancorp, Inc. will post 2.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on WASH shares. Bank of America started coverage on Washington Trust Bancorp in a research report on Wednesday, May 28th. They set a “neutral” rating and a $28.00 price objective for the company. Piper Sandler lowered Washington Trust Bancorp from a “neutral” rating to an “underweight” rating and set a $28.00 price objective for the company. in a research report on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Washington Trust Bancorp presently has an average rating of “Hold” and a consensus price target of $29.00.

Washington Trust Bancorp 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.