Washington Trust Bancorp (NASDAQ:WASH) Stock Bumped Up to “Strong-Buy” by Zacks Research

Zacks Research upgraded shares of Washington Trust Bancorp (NASDAQ:WASH) from a hold rating to a strong-buy rating in a report released on Monday morning,Zacks reports.

A number of other analysts have also weighed in on the company. Seaport Research Partners lowered Washington Trust Bancorp from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Washington Trust Bancorp in a report on Wednesday, September 2nd. Wall Street Zen upgraded Washington Trust Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Piper Sandler boosted their target price on Washington Trust Bancorp from $32.00 to $35.00 and gave the stock a “neutral” rating in a research note on Friday, June 26th. Finally, Keefe, Bruyette & Woods upped their price target on Washington Trust Bancorp from $33.00 to $36.00 and gave the stock a “market perform” rating in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Washington Trust Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $35.50.

Washington Trust Bancorp Price Performance

Washington Trust Bancorp stock opened at $38.11 on Monday. The firm has a market cap of $726.76 million, a PE ratio of 11.44, a price-to-earnings-growth ratio of 0.79 and a beta of 0.73. Washington Trust Bancorp has a 52-week low of $26.52 and a 52-week high of $40.54. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.86. The company’s 50 day moving average is $38.87 and its two-hundred day moving average is $36.26.

Washington Trust Bancorp (NASDAQ:WASH) last issued its quarterly earnings results on Monday, October 19th. The financial services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.87 by $0.14. Washington Trust Bancorp had a net margin of 16.73% and a return on equity of 11.67%. The company had revenue of $64.96 million during the quarter, compared to analysts’ expectations of $62.62 million. On average, research analysts expect that Washington Trust Bancorp will post 3.23 EPS for the current fiscal year.

Washington Trust Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Thursday, October 1st were issued a $0.56 dividend. The ex-dividend date of this dividend was Thursday, October 1st. This represents a $2.24 annualized dividend and a yield of 5.9%. Washington Trust Bancorp’s dividend payout ratio (DPR) is 77.78%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in WASH. Bank of America Corp DE acquired a new stake in Washington Trust Bancorp in the second quarter valued at $4,312,000. Renaissance Technologies LLC lifted its holdings in Washington Trust Bancorp by 108.6% during the 1st quarter. Renaissance Technologies LLC now owns 77,959 shares of the financial services provider’s stock worth $2,609,000 after buying an additional 40,591 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Washington Trust Bancorp during the 2nd quarter worth about $10,556,000. Legal & General Group Plc purchased a new stake in Washington Trust Bancorp during the 2nd quarter worth about $507,000. Finally, Ieq Capital LLC acquired a new position in shares of Washington Trust Bancorp during the 2nd quarter worth about $1,344,000. Hedge funds and other institutional investors own 65.81% of the company’s stock.

Key Stories Impacting Washington Trust Bancorp

Here are the key news stories impacting Washington Trust Bancorp this week:

• Positive Sentiment: Washington Trust reported third-quarter net income of $19.4 million, up 21% from the preceding quarter. Earnings per share were $1.01, well above the $0.87 analyst consensus and substantially higher than $0.56 a year earlier. Washington Trust Reports Third Quarter 2026 Results
• Positive Sentiment: Revenue reached approximately $65.0 million, exceeding the $62.6 million consensus estimate. The combination of earnings and revenue beats suggests better-than-expected operating performance and was the primary catalyst for the stock’s advance. Washington Trust Bancorp Surpasses Q3 Earnings and Revenue Estimates
• Positive Sentiment: Management highlighted margin expansion, disciplined growth and a confident earnings outlook during the quarterly call, supporting expectations for continued profitability. Washington Trust Bancorp Signals Confident Earnings Outlook
• Neutral Sentiment: Loan and deposit growth continued, but quarter-over-quarter expansion was less impressive than the earnings improvement. Investors may therefore focus on whether Washington Trust can sustain growth while preserving margins. Why Washington Trust Bancorp Stock Was a Winner Today
• Positive Sentiment: Zacks added WASH to a list of top income stocks carrying a Rank #1, reinforcing the favorable near-term sentiment around the shares.

About Washington Trust Bancorp

Washington Trust Bancorp, Inc is the holding company for The Washington Trust Company, a community bank headquartered in Westerly, Rhode Island. Founded in 1800, Washington Trust is one of the oldest continuously operating banks in the United States and serves individuals, families, businesses and institutions.

The bank provides a range of financial services, including checking and savings accounts, certificates of deposit, residential and commercial real estate lending, consumer loans, business banking and cash-management services.