Washington Trust Bancorp (NASDAQ:WASH) Research Coverage Started at StockNews.com

Analysts at StockNews.com started coverage on shares of Washington Trust Bancorp (NASDAQ:WASH – Get Rating) in a research report issued to clients and investors on Thursday. The brokerage set a “sell” rating on the financial services provider’s stock.

Washington Trust Bancorp Stock Performance

Shares of WASH stock opened at $34.85 on Thursday. Washington Trust Bancorp has a 12 month low of $33.70 and a 12 month high of $55.93. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.04 and a quick ratio of 1.03. The firm has a market capitalization of $598.03 million, a P/E ratio of 8.48 and a beta of 0.73. The company’s fifty day moving average price is $43.72 and its two-hundred day moving average price is $46.82.

Insiders Place Their Bets

In other news, Director Constance A. Howes acquired 1,250 shares of the business’s stock in a transaction on Wednesday, February 8th. The shares were purchased at an average price of $44.01 per share, for a total transaction of $55,012.50. Following the acquisition, the director now directly owns 3,320 shares of the company’s stock, valued at approximately $146,113.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.42% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Washington Trust Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of WASH. Lazard Asset Management LLC bought a new stake in shares of Washington Trust Bancorp in the 3rd quarter worth about $27,000. Captrust Financial Advisors increased its position in shares of Washington Trust Bancorp by 16,450.0% in the 2nd quarter. Captrust Financial Advisors now owns 662 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 658 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in shares of Washington Trust Bancorp by 2,596.3% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 728 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 701 shares during the last quarter. Quadrant Capital Group LLC increased its position in shares of Washington Trust Bancorp by 894.2% in the 3rd quarter. Quadrant Capital Group LLC now owns 1,372 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 1,234 shares during the last quarter. Finally, Quantbot Technologies LP increased its position in shares of Washington Trust Bancorp by 1,837.0% in the 3rd quarter. Quantbot Technologies LP now owns 1,569 shares of the financial services provider’s stock worth $72,000 after purchasing an additional 1,488 shares during the last quarter. Institutional investors own 71.23% of the company’s stock.

About Washington Trust Bancorp

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Washington Trust Bancorp, Inc operates as a bank holding company. The firm engages in the provision of financial services, including business banking, personal banking and wealth management and trust services. It operates through the following segments: Commercial Banking and Wealth Management Services.