Washington Trust Bancorp Inc
Change company Symbol lookup
Select an option...
WASH Washington Trust Bancorp Inc
BAC Bank of America Corp
WLL Whiting Petroleum Corp
IQST Iqstel Inc
KDP Keurig Dr Pepper Inc
GROW U.S. Global Investors Inc
GOLF Acushnet Holdings Corp
GM General Motors Co
CLRB Cellectar Biosciences Inc
PSDO Presidio Inc
Go

Financials : Banks | Company profile

Washington Trust Bancorp, Inc. is a bank holding company and financial holding company. The Company is a holding company of The Washington Trust Company, of Westerly (the Bank), a Rhode Island chartered commercial bank. The Company operates through two business segments: Commercial Banking and Wealth Management Services. The Company offers a range of product lines of banking and financial services to individuals and businesses, including commercial, residential and consumer lending, retail and commercial deposit products, and wealth management services through its offices in Rhode Island, eastern Massachusetts and Connecticut; its automated teller machines (ATMs); telephone banking; mobile banking and its Internet Website (www.washtrust.com). Its investment securities portfolio amounted to $755.5 million, as of December 31, 2016. The Company's total loan portfolio amounted to $3.2 billion, as of December 31, 2016.

Price
Delayed
$53.47
Day's Change
0.595 (1.13%)
Bid
--
Ask
--
B/A Size
--
Day's High
53.63
Day's Low
52.48
Volume
(Heavy Day)

Today's volume of 39,425 shares is on pace to be much greater than WASH's 10-day average volume of 43,335 shares.

39,425

UPDATE: GE shares pare early gains made after long-term bear turned slightly less bearish

7:04 am ET December 14, 2018 (MarketWatch)
Print

By Ciara Linnane, MarketWatch

GE also unveiled plan for industrial Internet of Things company with $1.2 billion in annual revenue

General Electric Co. shares got a double boost Thursday, when a long-time bear upgraded the stock and the company announced the launch of an industrial Internet of Things unit that will be run independently.

JPMorgan analyst Stephen Tusa upgraded the stock (GE) to neutral from underweight and removed it from his Analyst Focus list as a short idea. Tusa can hardly be described as becoming bullish on the stock, so much as less bearish. "We now see a more event-driven, balanced risk reward at current levels," he wrote in a note.

Tusa has had the underweight rating on GE stock for at least the last 2 1/2 years, during which time it has gone through a major restructuring, following an accounting scandal at its legacy insurance business. The company has twice replaced its chief executive, the stock has been removed from the Dow Jones Industrial Average and the company was forced to slash its dividend.

GE shares soared 12% on the move before paring those gains. The stock was on track for its biggest gain since June, and was leading S&P 500 gainers.

Tusa made two key points in his note. On the one hand, he said a more negative outcome on the $100 billion in net liabilities the company needs to reduce is at least partially discounted, "and it's possible that the company can execute its way through an elongated workout that limits near-term downside."

Read now:GE stock flirts with fresh lows after analyst hacks price target (http://www.marketwatch.com/story/ge-stock-flirts-with-fresh-lows-after-analyst-hacks-price-target-2018-11-30)

In case you missed it:Ousted CEO John Flannery pays the price for taking out GE's trash (http://www.marketwatch.com/story/ousted-ceo-john-flannery-pays-the-price-for-taking-out-ges-trash-2018-10-01)

On the other hand, GE probably needs to raise equity by a material amount, "and, in this instance, while we think there would be near-term downside, we also think there could be support at a lower level, and likely a benefit of the doubt for new management with a higher multiple on lower earnings and free cash flow," said Tusa. He is sticking with his price target of $6, now almost 19% below the stock's current trading level. He is modeling for upside risk of $8 and downside risk of $5. The $6 price target (http://www.marketwatch.com/story/ge-says-it-is-a-fundamentally-strong-company-after-jpmorgan-note-hammers-stock-2018-11-09)remains the most bearish (GE%27s%20stock%20tumbles%20again,%20toward%2012th%20loss%20in%2013%20sessions)of analysts tracked by FactSet.

GE said its Industrial IoT company will start life with annual revenue of $1.2 billion. The new entity will bring together GE Digital's IIoT products, and the GE Power Digital and Grid Software Solutions businesses, the company said in a statement. It will offer software to the power, renewables, aviation, oil and gas, food and beverage, chemicals, consumer packaged goods and mining industries.

See also:How old-school manufacturers can reinvent themselves and beat back the software giants (http://www.marketwatch.com/story/how-old-school-manufacturers-can-reinvent-themselves-and-beat-back-the-software-giants-2018-11-20)

Related: GE's stock surges to best day in months after Baker Hughes stake sale (http://www.marketwatch.com/story/ges-stock-poised-for-best-day-in-3-12-years-after-baker-hughes-stake-sale-2018-11-13)

The company cited Gartner data suggesting that smart, connected products, including advanced analytics and artificial intelligence, will generate improvements in productivity and spur demand for IT through 2022.

GE is also planning to sell a majority stake in ServiceMax, a provider of field service management software, to private-equity firm Silver Lake in a deal expected to close in the first quarter of 2019.

GE shares are down 57.6% in 2018, while the S&P 500 has fallen 0.3%.

Read now: 'If you can't beat the market, how did Warren Buffett do it?' and 7 other questions to ask during a volatile stock market (http://www.marketwatch.com/story/if-stock-prices-reflect-fundamentals-why-are-they-so-volatile-and-other-awkward-questions-for-your-financial-adviser-2018-10-14)

-Ciara Linnane; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

December 14, 2018 07:04 ET (12:04 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.

Earnings Calendar and Events Data provided by |Terms of Use| © 2019 Wall Street Horizon, Inc.

Market data accompanied by is delayed by at least 15 minutes for NASDAQ, NYSE MKT, NYSE, and options. Duration of the delay for other exchanges varies.
Market data and information provided by Morningstar.

Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses.
Please read Characteristics and Risks of Standard Options before investing in options.

Information and news provided by ,, , Computrade Systems, Inc., , and

Copyright © 2019. All rights reserved.