Key Points
- CFO Ronald Ohsberg purchased 1,606 shares at about $31 each for a total of $49,786, increasing his stake by 5.72% to 29,705 shares (≈$920,855).
- Other insiders also bought shares — EVP James Cannon Brown acquired ~32,000 shares and CEO Edward O. Handy III bought 3,195 shares — a broad insider buying trend that suggests management confidence.
- Washington Trust missed Q1 earnings ($0.66 EPS vs. $0.77 est.) despite stronger-than-expected revenue, and it pays a sizable dividend ($0.56 quarterly, ~7% yield) with a high payout ratio (~82%), which may raise sustainability concerns.
Washington Trust Bancorp, Inc. (NASDAQ:WASH - Get Free Report) CFO Ronald Ohsberg purchased 1,606 shares of the business's stock in a transaction on Friday, April 24th. The shares were bought at an average cost of $31.00 per share, with a total value of $49,786.00. Following the acquisition, the chief financial officer directly owned 29,705 shares of the company's stock, valued at $920,855. This trade represents a 5.72% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Washington Trust Bancorp Stock Performance
NASDAQ:WASH opened at $31.97 on Wednesday. The stock has a 50-day simple moving average of $33.61 and a two-hundred day simple moving average of $31.25. Washington Trust Bancorp, Inc. has a 52-week low of $25.23 and a 52-week high of $37.08. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market capitalization of $608.71 million, a PE ratio of 11.71, a P/E/G ratio of 0.68 and a beta of 0.81.
Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last announced its quarterly earnings data on Monday, April 20th. The financial services provider reported $0.66 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.11). The business had revenue of $98.35 million during the quarter, compared to analysts' expectations of $58.24 million. Washington Trust Bancorp had a net margin of 13.71% and a return on equity of 9.85%. Analysts forecast that Washington Trust Bancorp, Inc. will post 3.19 EPS for the current year.
Washington Trust Bancorp Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Wednesday, April 1st were paid a $0.56 dividend. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 7.0%. Washington Trust Bancorp's dividend payout ratio is 82.05%.
Washington Trust Bancorp News Roundup
Here are the key news stories impacting Washington Trust Bancorp this week:
- Positive Sentiment: Large insider purchases: EVP James Cannon Brown bought 32,000 shares (~$31.17 avg), a >600% increase in his stake — a strong signal of insider confidence. InsiderTrades: EVP purchase
- Positive Sentiment: CEO Edward O. Handy III purchased 3,195 shares at ~$31.32, increasing his direct stake — another management-confidence indicator. SEC filing: CEO purchase
- Positive Sentiment: CFO Ronald S. Ohsberg bought 1,606 shares at ~$31.00, modestly upping his holding, consistent with the other insider buys. SEC filing: CFO purchase
- Neutral Sentiment: Board change: Jeffrey M. Wilhelm was elected to the board — routine governance update with limited immediate financial impact. PR Newswire: Board election
- Neutral Sentiment: Dividend income: recent quarterly cash dividend ($0.56; ~7.1% yield annualized) supports income-focused holders but contributes to a high payout ratio (~82%), which investors should monitor.
- Neutral Sentiment: Mixed analyst/institutional activity: recent broker updates are centered around a "hold/market perform" consensus and modest new institutional positions — little clear directional push from brokers.
- Negative Sentiment: Q1 earnings miss: Washington Trust reported $0.66 EPS vs. analyst estimates of $0.77, a notable shortfall that prompted market concern about near-term earnings momentum. MSN: Q1 coverage
- Negative Sentiment: Investor litigation risk: Pomerantz LLP announced an investigation into Washington Trust investor claims — potential legal exposure and distraction for management. GlobeNewswire: Pomerantz investigation
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on WASH shares. Keefe, Bruyette & Woods upped their price objective on Washington Trust Bancorp from $30.00 to $34.00 and gave the stock a "market perform" rating in a research note on Friday, January 30th. Wall Street Zen lowered Washington Trust Bancorp from a "buy" rating to a "hold" rating in a research note on Saturday. Piper Sandler began coverage on Washington Trust Bancorp in a research report on Monday, March 16th. They issued a "neutral" rating and a $32.00 target price on the stock. Weiss Ratings upgraded Washington Trust Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, April 21st. Finally, Zacks Research downgraded Washington Trust Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 6th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Washington Trust Bancorp currently has a consensus rating of "Hold" and a consensus target price of $31.33.
View Our Latest Stock Analysis on WASH
Institutional Investors Weigh In On Washington Trust Bancorp
A number of hedge funds have recently made changes to their positions in WASH. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Washington Trust Bancorp by 17.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,351 shares of the financial services provider's stock worth $350,000 after buying an additional 1,708 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Washington Trust Bancorp by 8.1% in the second quarter. Legal & General Group Plc now owns 19,312 shares of the financial services provider's stock worth $546,000 after buying an additional 1,448 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Washington Trust Bancorp by 9.8% in the second quarter. Rhumbline Advisers now owns 29,957 shares of the financial services provider's stock worth $847,000 after buying an additional 2,670 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Washington Trust Bancorp in the second quarter worth about $409,000. Finally, Invesco Ltd. lifted its position in shares of Washington Trust Bancorp by 3.0% in the second quarter. Invesco Ltd. now owns 304,400 shares of the financial services provider's stock worth $8,608,000 after buying an additional 8,938 shares in the last quarter. 65.81% of the stock is currently owned by hedge funds and other institutional investors.
Washington Trust Bancorp Company Profile
(
Get Free Report)
Washington Trust Bancorp, Inc is the bank holding company for The Washington Trust Company, a community bank headquartered in Westerly, Rhode Island. Through its subsidiary, the company operates a network of branch offices across Rhode Island and southeastern Connecticut, serving individuals, small businesses and municipalities with a full suite of financial services.
The company's core business activities encompass retail and commercial banking, including checking and savings accounts, consumer and commercial loans, mortgage financing, and cash management solutions.
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