Washington Trust Bancorp (WASH) Upgraded at Compass Point

Washington Trust Bancorp (NASDAQ:WASH) was upgraded by Compass Point from a “neutral” rating to a “buy” rating in a research report issued on Monday, The Fly reports.

Several other research firms also recently commented on WASH. BidaskClub upgraded Washington Trust Bancorp from a “strong sell” rating to a “sell” rating in a research report on Wednesday, March 27th. Sandler O’Neill downgraded Washington Trust Bancorp from a “buy” rating to a “hold” rating and set a $55.00 target price for the company. in a research report on Tuesday, January 29th.

Shares of WASH stock opened at $51.05 on Monday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 2.17. Washington Trust Bancorp has a twelve month low of $45.93 and a twelve month high of $63.25. The firm has a market cap of $859.54 million, a P/E ratio of 12.64 and a beta of 0.62.

Washington Trust Bancorp (NASDAQ:WASH) last posted its earnings results on Monday, April 22nd. The financial services provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.95 by $0.05. The firm had revenue of $49.95 million during the quarter. Washington Trust Bancorp had a return on equity of 15.98% and a net margin of 28.66%.

Hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. increased its stake in shares of Washington Trust Bancorp by 1.0% in the fourth quarter. Victory Capital Management Inc. now owns 29,000 shares of the financial services provider’s stock valued at $1,378,000 after buying an additional 300 shares during the period. Geode Capital Management LLC increased its stake in shares of Washington Trust Bancorp by 9.9% in the fourth quarter. Geode Capital Management LLC now owns 179,646 shares of the financial services provider’s stock valued at $8,538,000 after buying an additional 16,141 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Washington Trust Bancorp by 9.3% in the third quarter. JPMorgan Chase & Co. now owns 282,783 shares of the financial services provider’s stock valued at $15,637,000 after buying an additional 24,151 shares during the period. Teton Advisors Inc. increased its stake in shares of Washington Trust Bancorp by 1.2% in the fourth quarter. Teton Advisors Inc. now owns 60,720 shares of the financial services provider’s stock valued at $2,886,000 after buying an additional 700 shares during the period. Finally, BlackRock Inc. increased its stake in shares of Washington Trust Bancorp by 1.9% in the third quarter. BlackRock Inc. now owns 1,118,776 shares of the financial services provider’s stock valued at $61,868,000 after buying an additional 20,580 shares during the period. 59.33% of the stock is owned by 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 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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