Washington Trust Bancorp Inc. (NASDAQ:WASH) was downgraded by equities research analysts at Compass Point from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday.

Washington Trust Bancorp (NASDAQ:WASH) opened at 41.19 on Tuesday. Washington Trust Bancorp has a one year low of $34.59 and a one year high of $43.85. The stock has a 50 day moving average of $40.95 and a 200-day moving average of $38.47. The firm has a market capitalization of $703.57 million, a PE ratio of 16.49 and a beta of 0.87.

Washington Trust Bancorp (NASDAQ:WASH) last posted its earnings results on Monday, July 25th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.66 by $0.02. Washington Trust Bancorp had a return on equity of 11.32% and a net margin of 22.85%. On average, equities analysts predict that Washington Trust Bancorp will post $2.56 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Monday, October 3rd will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date is Thursday, September 29th. This is an increase from Washington Trust Bancorp’s previous quarterly dividend of $0.36. Washington Trust Bancorp’s dividend payout ratio is 57.60%.

In other Washington Trust Bancorp news, Director Katherine W. Hoxsie sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $42.31, for a total value of $84,620.00. Following the completion of the transaction, the director now owns 24,302 shares in the company, valued at approximately $1,028,217.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.58% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in Washington Trust Bancorp by 6.8% in the second quarter. Dimensional Fund Advisors LP now owns 666,689 shares of the financial services provider’s stock worth $25,280,000 after buying an additional 42,324 shares in the last quarter. Edge Asset Management Inc. boosted its position in Washington Trust Bancorp by 19.3% in the second quarter. Edge Asset Management Inc. now owns 571,705 shares of the financial services provider’s stock worth $21,679,000 after buying an additional 92,677 shares in the last quarter. Vanguard Group Inc. boosted its position in Washington Trust Bancorp by 3.6% in the second quarter. Vanguard Group Inc. now owns 557,079 shares of the financial services provider’s stock worth $21,125,000 after buying an additional 19,429 shares in the last quarter. WASHINGTON TRUST Co boosted its position in Washington Trust Bancorp by 0.3% in the second quarter. WASHINGTON TRUST Co now owns 487,716 shares of the financial services provider’s stock worth $18,494,000 after buying an additional 1,339 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in Washington Trust Bancorp by 0.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 466,232 shares of the financial services provider’s stock worth $17,400,000 after buying an additional 1,322 shares in the last quarter. Hedge funds and other institutional investors own 52.25% of the company’s stock.

About Washington Trust Bancorp

Washington Trust Bancorp, Inc (Bancorp) is a bank holding and financial holding company. The Company operates through two segments: Commercial Banking and Wealth Management Services. Its Commercial Banking segment includes commercial, residential and consumer lending activities; equity in losses of unconsolidated investments in real estate limited partnerships, mortgage banking, secondary market and loan servicing activities; deposit generation; merchant credit card services; cash management activities, and direct banking activities, which include the operation of automated teller machines (ATMs), telephone and Internet banking services, and customer support and sales.

5 Day Chart for NASDAQ:WASH

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