Washington Trust Bancorp, Inc. (NASDAQ:WASH) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Monday.

Separately, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $55.00 target price on shares of Washington Trust Bancorp in a research note on Monday, April 10th.

Washington Trust Bancorp (WASH) traded up 0.10% during trading on Monday, hitting $50.45. 29,827 shares of the stock traded hands. The stock has a 50 day moving average price of $50.73 and a 200-day moving average price of $51.55. Washington Trust Bancorp has a 52-week low of $36.42 and a 52-week high of $58.30. The stock has a market cap of $868.04 million, a P/E ratio of 18.41 and a beta of 0.72.

Washington Trust Bancorp (NASDAQ:WASH) last released its quarterly earnings results on Monday, April 24th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by $0.02. Washington Trust Bancorp had a net margin of 23.49% and a return on equity of 12.02%. The company had revenue of $43.19 million during the quarter. On average, analysts anticipate that Washington Trust Bancorp will post $2.83 EPS for the current fiscal year.

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In other news, Chairman Joseph J. Marcaurele sold 5,000 shares of Washington Trust Bancorp stock in a transaction on Wednesday, April 26th. The stock was sold at an average price of $52.10, for a total transaction of $260,500.00. Following the transaction, the chairman now owns 62,455 shares in the company, valued at approximately $3,253,905.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have sold 5,895 shares of company stock worth $304,382. Insiders own 2.58% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. New England Research & Management Inc. raised its position in Washington Trust Bancorp by 6.7% in the second quarter. New England Research & Management Inc. now owns 72,809 shares of the financial services provider’s stock valued at $3,753,000 after buying an additional 4,550 shares in the last quarter. RB Capital Management LLC bought a new position in Washington Trust Bancorp during the second quarter valued at approximately $200,000. Nuveen Asset Management LLC bought a new position in Washington Trust Bancorp during the first quarter valued at approximately $485,000. Goldman Sachs Group Inc. raised its position in Washington Trust Bancorp by 13.0% in the first quarter. Goldman Sachs Group Inc. now owns 16,207 shares of the financial services provider’s stock valued at $799,000 after buying an additional 1,867 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in Washington Trust Bancorp by 92.2% in the first quarter. AQR Capital Management LLC now owns 24,158 shares of the financial services provider’s stock valued at $1,191,000 after buying an additional 11,591 shares in the last quarter. Institutional investors and hedge funds own 55.04% of the company’s stock.

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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