Washington Trust Bancorp (NASDAQ:WASH) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Wednesday.

Separately, Compass Point upgraded Washington Trust Bancorp from a “neutral” rating to a “buy” rating in a report on Monday.

Washington Trust Bancorp (WASH) opened at $55.80 on Wednesday. The company has a debt-to-equity ratio of 2.02, a quick ratio of 1.09 and a current ratio of 1.09. Washington Trust Bancorp has a 52-week low of $47.00 and a 52-week high of $59.10. The stock has a market capitalization of $936.82, a P/E ratio of 18.82 and a beta of 0.75.

Washington Trust Bancorp (NASDAQ:WASH) last released its earnings results on Monday, October 23rd. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.01. Washington Trust Bancorp had a return on equity of 12.44% and a net margin of 23.63%. The company had revenue of $47.34 million for the quarter.

In other Washington Trust Bancorp news, Director Victor J. Orsinger II sold 1,000 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $53.23, for a total transaction of $53,230.00. Following the sale, the director now owns 2,230 shares in the company, valued at approximately $118,702.90. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John F. Treanor sold 5,500 shares of the stock in a transaction on Monday, December 4th. The shares were sold at an average price of $55.94, for a total value of $307,670.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,451 shares of company stock worth $633,870. Insiders own 2.58% of the company’s stock.

A number of large investors have recently made changes to their positions in WASH. Principal Financial Group Inc. grew its holdings in Washington Trust Bancorp by 187.5% during the 2nd quarter. Principal Financial Group Inc. now owns 1,094,945 shares of the financial services provider’s stock valued at $56,445,000 after buying an additional 714,155 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Washington Trust Bancorp by 79.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 229,930 shares of the financial services provider’s stock worth $11,852,000 after purchasing an additional 102,068 shares during the period. Franklin Resources Inc. lifted its stake in shares of Washington Trust Bancorp by 22.1% during the 2nd quarter. Franklin Resources Inc. now owns 489,191 shares of the financial services provider’s stock worth $25,218,000 after purchasing an additional 88,500 shares during the period. Thrivent Financial For Lutherans purchased a new position in shares of Washington Trust Bancorp during the 2nd quarter worth $2,607,000. Finally, PDT Partners LLC purchased a new position in shares of Washington Trust Bancorp during the 2nd quarter worth $825,000. Hedge funds and other institutional investors own 55.09% of the company’s stock.

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Washington Trust Bancorp Company Profile

Washington Trust Bancorp, Inc is a bank holding company and financial holding company. The Company is a holding company of The Washington Trust Company, of Westerly (the Bank), a Rhode Island chartered commercial bank. The Company operates through two business segments: Commercial Banking and Wealth Management Services.

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