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

Washington Trust Bancorp, Inc. (NASDAQ:WASH) EVP Kathleen A. Ryan sold 544 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $27.65, for a total transaction of $15,041.60. Following the completion of the sale, the executive vice president now directly owns 8,885 shares in the company, valued at approximately $245,670.25. The trade was a 5.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Washington Trust Bancorp Stock Performance

NASDAQ:WASH opened at $27.75 on Tuesday. The stock has a market cap of $535.33 million, a P/E ratio of -17.90 and a beta of 0.91. The firm’s fifty day simple moving average is $27.77 and its 200 day simple moving average is $30.83. Washington Trust Bancorp, Inc. has a twelve month low of $24.70 and a twelve month high of $40.59. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 2.63.

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

Washington Trust Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st were given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 8.07%. The ex-dividend date was Tuesday, April 1st. Washington Trust Bancorp’s dividend payout ratio is presently -143.59%.

Hedge Funds Weigh In On Washington Trust Bancorp

Several large investors have recently modified their holdings of the stock. Ransom Advisory Ltd purchased a new position in Washington Trust Bancorp in the 1st quarter worth about $40,000. Federated Hermes Inc. purchased a new stake in shares of Washington Trust Bancorp during the 1st quarter valued at about $53,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Washington Trust Bancorp during the 4th quarter valued at about $97,000. State of Tennessee Department of Treasury purchased a new stake in shares of Washington Trust Bancorp during the 4th quarter valued at about $131,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Washington Trust Bancorp by 38.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,364 shares of the financial services provider’s stock valued at $196,000 after purchasing an additional 1,757 shares during the last quarter. Hedge funds and other institutional investors own 65.81% of the company’s stock.

Analysts Set New Price Targets

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

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.