Analysts at Compass Point downgraded shares of Washington Trust Bancorp Inc. (NASDAQ: WASH) from Buy to Neutral in a research note to investors today.Compass Point currently has a rating of Neutral on the shares. As a means of comparison, a number of other analysts have issued reports on the company in recent days, and the company has secured a consensus one-year price target of $41.00, less than the opening price of $42.12, a difference of 9.70 percent. Washington Trust Bancorp Inc. stock has a 52-week high of $43.85. Important and fundamental digressions in the company’s procedures, future ision or industry can cause downgrades as the analysts consider that the future prospects for the security have weakened from the initial recommendation.
U.S. stocks on Monday closed essentially flat, after trading firmly higher, in a volatile session ahead of the start of a pair of closely watched central-bank policy meetings.
The Dow Jones Industrial Average DJIA, -0.02% closed down 3.63 points at 18,120.17.
The blue-chip index had been up by as much as 131 points earlier and traded within a 162-point range.
The S&P 500 SPX, +0.00% slipped 0.04 points to close at 2,139.12, after trading within an 18-point range
Meanwhile, the Nasdaq Composite Index COMP, -0.18% declined 9.54 points, or 0.2%, to close at 5,235.03.
Earlier, the index had been up by as many as 37 points and traded with a 58-point range
Yesterday Washington Trust Bancorp Inc. (NASDAQ: WASH) shares last traded at $42.25, which represents a drop of $0.23 compared to the previous closing price. Opening at $42.12, they varied from $41.58 and $42.58 throughout the day.
Washington Trust Bancorp Inc. (NASDAQ: WASH) now has a market cap of 721.67M.
49,884 shares traded hands yesterday, 8 percent higher than the norm, out of a total float 14,665,000. Significant increases in trading volume and price growth together could mean considerable volume aggregation by institutional investors.
As with all possible breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to demonstrate that fund managers and other professional investors are jumping in.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors retain substantial teams of analysts that investigate thousands of stocks, so it is good confirmation to see them taking a postion in a stock you’re considering.
By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.
With that in mind, Washington Trust Bancorp Inc. (NASDAQ: WASH) now has a 50-day MA of $40.77 and 200-day MA of $38.43. It has traded in a 52-week range between $34.59 – 43.85 and today’s last price is 0.04% lower than the 52 week high of $43.85.
Indeed, earnings growth is among the most critical things to look at in regards to stock investing and, accordingly, investors seek companies that have grown their earnings at least 25% or more over 3 consecutive years.
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