Insider Selling: Washington Trust Bancorp, Inc. (WASH) Chairman Sells 5,000 Shares of Stock
Washington Trust Bancorp, Inc. (NASDAQ:WASH) Chairman Joseph J. Marcaurele sold 5,000 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $52.80, for a total transaction of $264,000.00. Following the completion of the transaction, the chairman now owns 57,583 shares of the company’s stock, valued at $3,040,382.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Washington Trust Bancorp, Inc. (WASH) traded down 0.57% on Monday, reaching $52.30. 12,113 shares of the company traded hands. The firm has a market capitalization of $900.03 million, a P/E ratio of 18.29 and a beta of 0.73. The stock has a 50-day moving average price of $51.54 and a 200 day moving average price of $51.46. Washington Trust Bancorp, Inc. has a 1-year low of $38.63 and a 1-year high of $58.30.
Washington Trust Bancorp (NASDAQ:WASH) last posted its earnings results on Monday, July 24th. The financial services provider reported $0.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.06. The company had revenue of $46.71 million during the quarter. Washington Trust Bancorp had a net margin of 23.86% and a return on equity of 12.52%. Analysts anticipate that Washington Trust Bancorp, Inc. will post $2.92 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Monday, July 3rd were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, June 29th. This represents a $1.52 annualized dividend and a yield of 2.89%. Washington Trust Bancorp’s payout ratio is 53.15%.
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Several research analysts recently issued reports on WASH shares. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $55.00 target price on shares of Washington Trust Bancorp in a research report on Monday, April 10th. BidaskClub upgraded shares of Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday.
A number of institutional investors have recently bought and sold shares of the stock. RB Capital Management LLC bought a new position in Washington Trust Bancorp during the second quarter valued at $200,000. Boston Private Wealth LLC bought a new position in Washington Trust Bancorp during the second quarter valued at $202,000. HM Payson & Co. bought a new position in Washington Trust Bancorp during the second quarter valued at $203,000. Affinity Investment Advisors LLC bought a new position in Washington Trust Bancorp during the first quarter valued at $211,000. Finally, Eqis Capital Management Inc. bought a new position in Washington Trust Bancorp during the first quarter valued at $221,000. 54.68% of the stock is owned by institutional investors.
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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