Washington Trust Bancorp (NASDAQ:WASH) CFO Ronald Ohsberg Acquires 1,606 Shares

Washington Trust Bancorp, Inc. (NASDAQ:WASH) CFO Ronald Ohsberg bought 1,606 shares of Washington Trust Bancorp stock in a transaction on Friday, April 24th. The stock was acquired at an average cost of $31.00 per share, with a total value of $49,786.00. Following the acquisition, the chief financial officer owned 29,705 shares in the company, valued at approximately $920,855. This represents a 5.72% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Washington Trust Bancorp Stock Up 1.1%

Washington Trust Bancorp stock opened at $31.97 on Wednesday. The firm has a market cap of $608.71 million, a price-to-earnings ratio of 11.71, a PEG ratio of 0.68 and a beta of 0.81. The stock has a fifty day simple moving average of $33.61 and a two-hundred day simple moving average of $31.25. Washington Trust Bancorp, Inc. has a 12 month low of $25.23 and a 12 month high of $37.08. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.19.

Washington Trust Bancorp (NASDAQ:WASH) last posted its earnings results on Monday, April 20th. The financial services provider reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.11). The business had revenue of $98.35 million during the quarter, compared to the consensus estimate of $58.24 million. Washington Trust Bancorp had a return on equity of 9.85% and a net margin of 13.71%. Equities analysts predict that Washington Trust Bancorp, Inc. will post 3.19 EPS for the current fiscal year.

Washington Trust Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Wednesday, April 1st were issued a $0.56 dividend. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $2.24 annualized dividend and a dividend yield of 7.0%. Washington Trust Bancorp’s payout ratio is presently 82.05%.

Institutional Trading of Washington Trust Bancorp

Hedge funds have recently bought and sold shares of the stock. Foster Dykema Cabot & Partners LLC bought a new stake in Washington Trust Bancorp during the third quarter valued at about $27,000. EverSource Wealth Advisors LLC grew its holdings in Washington Trust Bancorp by 114.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,015 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 542 shares during the period. Federated Hermes Inc. grew its holdings in Washington Trust Bancorp by 24.6% during the second quarter. Federated Hermes Inc. now owns 2,130 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 420 shares during the period. Tower Research Capital LLC TRC grew its holdings in Washington Trust Bancorp by 200.8% during the second quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the financial services provider’s stock valued at $67,000 after purchasing an additional 1,578 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in Washington Trust Bancorp by 367.2% during the third quarter. Russell Investments Group Ltd. now owns 2,378 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 1,869 shares during the period. Institutional investors own 65.81% of the company’s stock.

More Washington Trust Bancorp News

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

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Wall Street Zen lowered Washington Trust Bancorp from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings raised Washington Trust Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, April 21st. Keefe, Bruyette & Woods lifted their price objective on Washington Trust Bancorp from $30.00 to $34.00 and gave the stock a “market perform” rating in a report on Friday, January 30th. Piper Sandler assumed coverage on Washington Trust Bancorp in a report on Monday, March 16th. They issued a “neutral” rating and a $32.00 price objective for the company. Finally, Zacks Research lowered Washington Trust Bancorp from a “strong-buy” rating to a “hold” rating in a 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 MarketBeat, Washington Trust Bancorp currently has a consensus rating of “Hold” and a consensus price target of $31.33.

Washington Trust Bancorp Company Profile

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.