16 hours Ago By ABMN Staff
Washington Trust Bancorp ( NASDAQ:WASH – Get Free Report ) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Thursday. Separately, Piper Sandler upgraded shares of Washington Trust Bancorp from an “underweight” rating to a “neutral” rating and upped their target price for the company from $30.
00 to $34.00 in a research note on Tuesday, October 22nd. Get Our Latest Stock Analysis on WASH Washington Trust Bancorp Price Performance Washington Trust Bancorp ( NASDAQ:WASH – Get Free Report ) last issued its quarterly earnings results on Monday, October 21st.
The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.
08. Washington Trust Bancorp had a net margin of 11.24% and a return on equity of 9.
55%. The business had revenue of $103.86 million during the quarter, compared to analyst estimates of $47.
32 million. During the same quarter in the previous year, the firm earned $0.65 earnings per share.
Sell-side analysts expect that Washington Trust Bancorp will post 2.49 earnings per share for the current fiscal year. Hedge Funds Weigh In On Washington Trust Bancorp A number of hedge funds have recently added to or reduced their stakes in WASH.
Wilmington Savings Fund Society FSB acquired a new stake in shares of Washington Trust Bancorp during the third quarter worth $32,000. Barrett & Company Inc. raised its stake in Washington Trust Bancorp by 20.
1% during the third quarter. Barrett & Company Inc. now owns 4,694 shares of the financial services provider’s stock worth $151,000 after acquiring an additional 787 shares during the period.
CWM LLC lifted its holdings in Washington Trust Bancorp by 60.5% in the third quarter. CWM LLC now owns 5,048 shares of the financial services provider’s stock worth $163,000 after acquiring an additional 1,902 shares during the last quarter.
Sanders Morris Harris LLC acquired a new position in Washington Trust Bancorp in the third quarter valued at approximately $206,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Washington Trust Bancorp during the third quarter valued at approximately $209,000. Institutional investors and hedge funds own 65.
81% of the company’s stock. Washington Trust Bancorp Company Profile ( Get Free Report ) 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. See Also Receive News & Ratings for Washington Trust Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Washington Trust Bancorp and related companies with MarketBeat.com's FREE daily email newsletter .
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