Zacks Upgrades Washington Banking to Neutral (WBCO)
Washington Banking (NASDAQ:WBCO) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a note issued to investors on Tuesday, AnalystRatings.NET reports. The firm currently has a $14.70 price target on the stock. Zacks‘ price target would suggest a potential upside of 2.51% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Sandler O’Neill raised their price target on shares of Washington Banking 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 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 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 (NASDAQ:WBCO) traded down 0.91% during mid-day trading on Tuesday, hitting $14.21. 20,800 shares of the company’s stock traded hands. Washington Banking has a 1-year low of $12.52 and a 1-year high of $15.65. The stock has a 50-day moving average of $14.08 and a 200-day moving average of $14.08. The company has a market cap of $220.7 million and a price-to-earnings ratio of 13.28.
Washington Banking (NASDAQ:WBCO) last released its earnings data on Thursday, July 25th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by $0.02. On average, analysts predict that Washington Banking will post $1.03 earnings per share for the current fiscal year.
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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