Washington Trust Bancorp Receives a Hold from KBW

By Jason Carr

In a report released yesterday, Frederick Cannon from KBW reiterated a Hold rating on Washington Trust Bancorp (NASDAQ: WASH), with a price target of $55. The company’s shares closed yesterday at $48.65.

According to TipRanks.com, Cannon is a 4-star analyst with an average return of 14.0% and a 64.7% success rate. Cannon covers the Financial sector, focusing on stocks such as Pacific Premier Bancorp Inc, Pinnacle Financial Partners, and Pacific Mercantile Bancorp.

Washington Trust Bancorp has an analyst consensus of Hold, with a price target consensus of $55.

Washington Trust Bancorp’s market cap is currently $836.4M and has a P/E ratio of 17.76. The company has a book value ratio of 2.1027.

Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Edwin Santos, a Director at WASH sold 490 shares for a total of $24,278.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Washington Trust Bancorp, Inc. is a bank holding company that engages in the provision of financial services, including business banking, personal banking, and wealth management and trust services. It operates through the Commercial Banking and Wealth Management Services segments. The Commercial Banking segment activities include lending, commercial loans, residential real estate mortgages, consumer loans and deposits. The Wealth Management Services segment provides a wealth management services to personal and institutional clients and mutual funds. These services include investment management, financial planning, personal trust services including services as trustee, administrator, custodian and guardian and estate settlement. The company was founded in 1984 and is headquartered in Westerly, RI.