Washington Trust Bancorp (NASDAQ:WASH) Price Target Raised to $39.00

Washington Trust Bancorp (NASDAQ:WASH) had its price objective raised by equities research analysts at Keefe, Bruyette & Woods from $36.00 to $39.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 2.51% from the company’s previous close.

WASH has been the subject of several other reports. Zacks Research upgraded Washington Trust Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday. Weiss Ratings reiterated a “buy (b)” rating on shares of Washington Trust Bancorp in a report on Wednesday, September 2nd. Seaport Research Partners downgraded Washington Trust Bancorp from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 22nd. Wall Street Zen raised Washington Trust Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Finally, Piper Sandler boosted their price target on Washington Trust Bancorp from $32.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Washington Trust Bancorp Stock Performance

WASH traded down $0.07 during trading on Wednesday, reaching $38.05. The company’s stock had a trading volume of 43,900 shares, compared to its average volume of 163,591. Washington Trust Bancorp has a 52-week low of $26.52 and a 52-week high of $40.54. The company’s fifty day moving average price is $38.87 and its 200-day moving average price is $36.26. The company has a market capitalization of $725.52 million, a price-to-earnings ratio of 11.42, a price-to-earnings-growth ratio of 0.79 and a beta of 0.73. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.97 and a current ratio of 0.97.

Washington Trust Bancorp (NASDAQ:WASH) last announced its quarterly earnings results on Monday, October 19th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $64.96 million during the quarter, compared to the consensus estimate of $62.62 million. On average, equities analysts forecast that Washington Trust Bancorp will post 3.23 earnings per share for the current fiscal year.

Institutional Trading of Washington Trust Bancorp

Several large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its stake in shares of Washington Trust Bancorp by 107.8% in the third quarter. GAMMA Investing LLC now owns 802 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 416 shares during the period. Brown Lisle Cummings Inc. grew its holdings in Washington Trust Bancorp by 1.3% during the 1st quarter. Brown Lisle Cummings Inc. now owns 47,098 shares of the financial services provider’s stock valued at $1,576,000 after purchasing an additional 620 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in Washington Trust Bancorp during the 3rd quarter worth $27,000. Hennion & Walsh Asset Management Inc. increased its stake in Washington Trust Bancorp by 8.8% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 9,168 shares of the financial services provider’s stock worth $334,000 after buying an additional 740 shares during the period. Finally, Rockland Trust Co. lifted its holdings in Washington Trust Bancorp by 3.0% in the 2nd quarter. Rockland Trust Co. now owns 26,527 shares of the financial services provider’s stock worth $968,000 after buying an additional 770 shares in the last quarter. 65.81% of the stock is currently owned by institutional investors and hedge funds.

More Washington Trust Bancorp News

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

• Positive Sentiment: Strong Q3 earnings beat: Washington Trust reported third-quarter EPS of $1.01, well above the $0.87 consensus estimate and up from $0.56 a year earlier. Revenue reached approximately $64.96 million, also exceeding expectations of $62.62 million. Net income increased 21% sequentially to $19.4 million. Washington Trust Reports Third Quarter 2026 Results
• Positive Sentiment: Improved analyst sentiment: Zacks Research upgraded WASH from “Hold” to “Strong Buy,” adding to the positive reaction to the earnings report. Washington Trust was also included in Zacks’ list of top income stocks with a No. 1 Strong Buy ranking.
• Positive Sentiment: Profitability and margins improved: Management highlighted solid earnings, margin expansion and disciplined growth, supporting the view that the bank’s operating performance is strengthening. Washington Trust Bancorp Delivers Strong Q3 Performance
• Neutral Sentiment: Near-term outlook is mixed: Washington Trust forecasts fourth-quarter net interest margin of 2.85%–2.90% while planning approximately $1.5 million in additional expenses. The outlook remains constructive, but higher costs could limit earnings growth if revenue does not expand accordingly. Washington Trust Q4 Net Interest Margin Outlook
• Negative Sentiment: Growth was not uniformly strong: Loan and deposit growth was less impressive on a quarter-over-quarter basis, which may be tempering enthusiasm despite the large EPS and revenue beats. Shares are also trading near their 12-month high, increasing the potential for profit-taking.

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.