Washington Trust Bancorp (NASDAQ:WASH) Lifted to Hold at StockNews.com

StockNews.com upgraded shares of Washington Trust Bancorp (NASDAQ:WASH) from a sell rating to a hold rating in a research report sent to investors on Thursday morning.

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

Washington Trust Bancorp Stock Performance

Shares of WASH opened at $26.14 on Thursday. The company’s fifty day moving average price is $25.76 and its 200 day moving average price is $27.21. Washington Trust Bancorp has a one year low of $21.69 and a one year high of $33.96. The company has a debt-to-equity ratio of 2.57, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market capitalization of $445.24 million, a PE ratio of 9.65 and a beta of 0.81.

Washington Trust Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Monday, April 1st were issued a dividend of $0.56 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.24 annualized dividend and a dividend yield of 8.57%. Washington Trust Bancorp’s payout ratio is 82.66%.

Institutional Trading of Washington Trust Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WASH. Barrett & Company Inc. increased its stake in Washington Trust Bancorp by 37.7% in the third quarter. Barrett & Company Inc. now owns 4,010 shares of the financial services provider’s stock valued at $106,000 after acquiring an additional 1,097 shares during the period. Kestra Private Wealth Services LLC increased its stake in Washington Trust Bancorp by 37.0% in the third quarter. Kestra Private Wealth Services LLC now owns 27,974 shares of the financial services provider’s stock valued at $737,000 after acquiring an additional 7,562 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Washington Trust Bancorp by 9.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 219,208 shares of the financial services provider’s stock valued at $5,772,000 after acquiring an additional 19,349 shares during the period. PNC Financial Services Group Inc. increased its stake in Washington Trust Bancorp by 3.6% in the third quarter. PNC Financial Services Group Inc. now owns 20,575 shares of the financial services provider’s stock valued at $542,000 after acquiring an additional 715 shares during the period. Finally, FMR LLC increased its stake in Washington Trust Bancorp by 0.4% in the third quarter. FMR LLC now owns 1,314,538 shares of the financial services provider’s stock valued at $34,612,000 after acquiring an additional 4,731 shares during the period. Institutional investors own 65.81% of the company’s stock.

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.