Washington Trust Bancorp (NASDAQ:WASH) Reaches New 52-Week High at $34.16

Washington Trust Bancorp, Inc. (NASDAQ:WASH)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $34.16 and last traded at $33.76, with a volume of 39113 shares traded. The stock had previously closed at $32.57.

Analyst Ratings Changes

Separately, StockNews.com raised Washington Trust Bancorp from a “sell” rating to a “hold” rating in a report on Monday, June 17th.

Washington Trust Bancorp Stock Up 1.4 %

The company has a market capitalization of $563.15 million, a PE ratio of 12.02 and a beta of 0.79. The company has a debt-to-equity ratio of 3.34, a quick ratio of 1.14 and a current ratio of 1.15. The company’s 50-day moving average is $30.78 and its 200 day moving average is $27.68.

Washington Trust Bancorp (NASDAQ:WASH) last posted its quarterly earnings results on Monday, July 22nd. The financial services provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.14. Washington Trust Bancorp had a net margin of 11.51% and a return on equity of 9.95%. The firm had revenue of $102.66 million for the quarter, compared to analysts’ expectations of $46.06 million. During the same quarter in the prior year, the company posted $0.66 earnings per share. As a group, analysts anticipate that Washington Trust Bancorp, Inc. will post 2.38 EPS for the current year.

Washington Trust Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Monday, July 1st were issued a dividend of $0.56 per share. The ex-dividend date was Monday, July 1st. This represents a $2.24 annualized dividend and a dividend yield of 6.79%. Washington Trust Bancorp’s payout ratio is 82.66%.

Institutional Investors Weigh In On Washington Trust Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EntryPoint Capital LLC raised its holdings in Washington Trust Bancorp by 86.3% in the 1st quarter. EntryPoint Capital LLC now owns 1,585 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 734 shares during the period. CWM LLC increased its position in Washington Trust Bancorp by 29.9% in the second quarter. CWM LLC now owns 3,146 shares of the financial services provider’s stock worth $86,000 after purchasing an additional 725 shares during the last quarter. Quest Partners LLC purchased a new stake in Washington Trust Bancorp during the fourth quarter valued at $186,000. IFG Advisory LLC bought a new position in Washington Trust Bancorp during the second quarter valued at $211,000. Finally, EP Wealth Advisors LLC purchased a new position in shares of Washington Trust Bancorp in the 4th quarter worth $259,000. Hedge funds and other 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.