Washington Banking Lowered to Underperform at Zacks (WBCO)
Washington Banking (NASDAQ:WBCO) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a report issued on Tuesday, ARN reports. They currently have a $13.50 price objective on the stock. Zacks‘ target price would suggest a potential downside of 4.73% from the stock’s previous close.
Shares of Washington Banking (NASDAQ:WBCO) traded up 1.48% on Tuesday, hitting $14.38. The stock had a trading volume of 58,673 shares. Washington Banking has a 52-week low of $12.52 and a 52-week high of $15.65. The stock has a 50-day moving average of $14.38 and a 200-day moving average of $14.02. The company has a market cap of $223.4 million and a P/E ratio of 13.12.
Washington Banking (NASDAQ:WBCO) last released its earnings data on Thursday, July 25th. The company reported $0.26 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.28 by $0.02. Analysts expect that Washington Banking will post $1.03 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Sandler O’Neill raised their price target on shares of Washington Banking (NASDAQ:WBCO) from $16.00 to $17.00 in a research note to investors on Tuesday, July 30th. They now have a “buy” rating on the stock. Separately, analysts at Keefe, Bruyette & Woods downgraded shares of Washington Banking (NASDAQ:WBCO) from an “outperform” rating to a “market perform” rating in a research note to investors on Monday, July 29th. Finally, analysts at Raymond James downgraded shares of Washington Banking (NASDAQ:WBCO) from an “outperform” rating to a “market perform” rating in a research note to investors on Monday, July 29th. They now have a $15.00 price target on the stock.
Washington Banking Company is a bank holding company. The Company’s primary business is conducted by its wholly owned subsidiary, Whidbey Island Bank (NASDAQ:WBCO).
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