Alert: Positive Investment/Fundamental Signals (12/1/23)-Washington Trust Bancorp Inc (NASDAQ: WASH)


Recent exceptional positive changes in investment behavior have benefitted Washington Trust Bancorp Inc (NASDAQ: WASH): positive upside/downside volume developed, the stock’s recent price rise disrupted its longer term downtrend, and its shorter term price trend turned up.

Recent small positive changes in fundamentals have benefitted Washington Trust Bancorp Inc (NASDAQ: WASH): significant quarterly sales acceleration occurred.

In light of these very positive signals we are reviewing our current Overall Rating of C. We would view the shares with optimism pending completion of this review in the next several days.


Current PriceTarget Research Rating

With future capital returns forecasted to be above the cost of capital, WASH is expected to continue to be a modest Value Builder.

Washington Trust Bancorp has a current Value Trend Rating of C (Low Neutral). This rating combines contradictory signals from two proprietary PTR measures of a stock’s attractiveness. Washington Trust Bancorp has a slightly positive Appreciation Score of 61 but a poor Power Rating of 30, leading to the Low Neutral Value Trend Rating.

Recent Price Action

On 12/1/23, Washington Trust Bancorp Inc (NASDAQ: WASH) stock enjoyed a very large increase of 7.9%, closing at $28.86. Moreover, this advance was accompanied by above average trading volume at 140% of normal. The stock has risen 9.1% during the last week but has been weak relative to the market over the last nine months.

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