Washington Trust Bancorp (NASDAQ:WASH) Stock Rating Upgraded by Seaport Res Ptn

Washington Trust Bancorp (NASDAQ:WASH) was upgraded by research analysts at Seaport Res Ptn from a “hold” rating to a “strong-buy” rating in a research report issued on Friday,Zacks.com reports.

Separately, StockNews.com upgraded shares of Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, January 31st.

Washington Trust Bancorp Price Performance

NASDAQ WASH opened at $30.85 on Friday. Washington Trust Bancorp has a 12 month low of $24.11 and a 12 month high of $40.59. The stock has a market cap of $594.66 million, a price-to-earnings ratio of -19.90 and a beta of 0.80. The company’s 50 day moving average is $31.79 and its two-hundred day moving average is $33.16. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 2.63.

Washington Trust Bancorp (NASDAQ:WASH) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. Washington Trust Bancorp had a negative net margin of 6.90% and a positive return on equity of 8.99%. As a group, research analysts anticipate that Washington Trust Bancorp will post 2.76 earnings per share for the current year.

Institutional Investors Weigh In On Washington Trust Bancorp

Several large investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Washington Trust Bancorp by 3.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,643 shares of the financial services provider’s stock worth $302,000 after purchasing an additional 319 shares during the last quarter. Kestra Private Wealth Services LLC boosted its stake in Washington Trust Bancorp by 1.5% during the fourth quarter. Kestra Private Wealth Services LLC now owns 36,015 shares of the financial services provider’s stock worth $1,129,000 after buying an additional 544 shares during the period. SG Americas Securities LLC boosted its stake in Washington Trust Bancorp by 5.9% during the fourth quarter. SG Americas Securities LLC now owns 12,229 shares of the financial services provider’s stock worth $383,000 after buying an additional 682 shares during the period. Essex Financial Services Inc. boosted its stake in Washington Trust Bancorp by 10.9% during the fourth quarter. Essex Financial Services Inc. now owns 7,366 shares of the financial services provider’s stock worth $231,000 after buying an additional 726 shares during the period. Finally, LPL Financial LLC boosted its stake in Washington Trust Bancorp by 4.2% during the fourth quarter. LPL Financial LLC now owns 18,293 shares of the financial services provider’s stock worth $573,000 after buying an additional 738 shares during the period. 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.