Insider Selling: Washington Trust Bancorp, Inc. (NASDAQ:WASH) Director Sells 5,000 Shares of Stock

Washington Trust Bancorp, Inc. (NASDAQ:WASH) Director Joseph J. Marcaurele sold 5,000 shares of the stock in a transaction that occurred on Wednesday, June 9th. The stock was sold at an average price of $55.00, for a total transaction of $275,000.00. Following the sale, the director now owns 60,794 shares in the company, valued at $3,343,670. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Shares of NASDAQ:WASH traded down $0.19 during trading hours on Friday, reaching $54.31. The stock had a trading volume of 1,477 shares, compared to its average volume of 61,010. Washington Trust Bancorp, Inc. has a 1 year low of $28.67 and a 1 year high of $56.20. The business’s 50 day moving average is $52.74. The company has a quick ratio of 0.95, a current ratio of 0.97 and a debt-to-equity ratio of 0.92. The stock has a market cap of $940.16 million, a PE ratio of 12.08 and a beta of 0.76.

Washington Trust Bancorp (NASDAQ:WASH) last announced its quarterly earnings data on Tuesday, April 20th. The financial services provider reported $1.32 EPS for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.28. Washington Trust Bancorp had a net margin of 29.37% and a return on equity of 14.79%. The company had revenue of $58.85 million for the quarter, compared to the consensus estimate of $58.60 million. Equities research analysts anticipate that Washington Trust Bancorp, Inc. will post 4.26 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 9th. Shareholders of record on Thursday, April 1st were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend was Wednesday, March 31st. Washington Trust Bancorp’s dividend payout ratio is presently 52.00%.

Separately, Zacks Investment Research upgraded shares of Washington Trust Bancorp from a “hold” rating to a “strong-buy” rating and set a $61.00 target price on the stock in a report on Tuesday, April 27th.

Several large investors have recently made changes to their positions in WASH. Captrust Financial Advisors purchased a new position in shares of Washington Trust Bancorp in the 4th quarter valued at $28,000. Lazard Asset Management LLC grew its position in shares of Washington Trust Bancorp by 278.2% in the 1st quarter. Lazard Asset Management LLC now owns 745 shares of the financial services provider’s stock valued at $38,000 after buying an additional 548 shares during the last quarter. RB Capital Management LLC purchased a new position in shares of Washington Trust Bancorp in the 1st quarter valued at $216,000. SG Americas Securities LLC purchased a new position in shares of Washington Trust Bancorp in the 4th quarter valued at $191,000. Finally, Essex Financial Services Inc. purchased a new position in shares of Washington Trust Bancorp in the 1st quarter valued at $220,000. 71.99% of the stock is currently owned by institutional investors.

About Washington Trust Bancorp

Washington Trust Bancorp, Inc operates as the bank holding company for The Washington Trust Company, of Westerly that offers various banking and financial services to individuals and businesses. The company operates in two segments, Commercial Banking and Wealth Management Services. The Commercial Banking segment provides various commercial and retail lending products, which include commercial real estate loans consisting of commercial mortgages and construction loans; commercial and industrial loans; residential real estate loans consists of mortgage and homeowner construction loans; and consumer loans comprising home equity loans and lines of credit, personal installment loans, and loans to individuals secured by general aviation aircraft.

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