Washington Trust Bancorp Inc. (NASDAQ:WASH) executive Kathleen Ryan, serving as EVP and Chief Wealth Management Officer, has recently sold shares in the company. According to the latest filings, Ryan disposed of a total of 535 shares of common stock on May 2, 2024, at prices ranging from $26.46 to $26.48. The total value of the shares sold amounted to approximately $14,158.
The transactions were executed in multiple tranches, with 414 shares sold at $26.46, 21 shares at $26.47, and the remaining 100 shares at $26.48. Following these sales, Ryan's direct holdings in Washington Trust Bancorp common stock amounted to 5,467 shares. Additionally, she indirectly owns 4,362 shares as the trustee of The Kathleen Ryan Declaration of Trust.
These sales are part of the routine disclosures that executives of publicly traded companies are required to make. The filings provide transparency and allow investors to monitor the buying and selling activities of a company's insiders. It is worth noting that insider transactions can vary widely in reasoning and should not necessarily be taken as indicative of company performance.
Washington Trust Bancorp Inc., headquartered in Westerly, Rhode Island, is a financial institution that offers a range of banking services. The company is known for its commercial banking operations and wealth management services within the region.
InvestingPro Insights
Washington Trust Bancorp Inc. (NASDAQ:WASH), while experiencing insider sales, presents a mix of financial metrics that can offer investors a broader understanding of the company's current market position. Notably, Washington Trust Bancorp has demonstrated a commitment to shareholder returns, having maintained dividend payments for an impressive 41 consecutive years. This level of consistency is a noteworthy highlight for income-focused investors.
Furthermore, the company's valuation metrics provide additional context. Washington Trust Bancorp's current P/E ratio stands at 9.78, aligning with the adjusted P/E ratio for the last twelve months as of Q1 2024. This valuation suggests that the company's earnings are priced lower than the market average, which could be appealing to value investors. Additionally, the dividend yield as of the latest data is quite substantial at 8.44%, significantly enhancing the total return potential for shareholders.
InvestingPro Tips indicate that two analysts have revised their earnings upwards for the upcoming period, signaling potential optimism about the company's future performance. For investors seeking more in-depth analysis and additional InvestingPro Tips, there are additional tips available on InvestingPro. Use the coupon code PRONEWS24 for an extra 10% off a yearly or biyearly Pro and Pro+ subscription to access these insights.
While the sale of shares by an executive may capture headlines, the underlying financial health and outlook of Washington Trust Bancorp Inc. are essential factors for investors to consider. The company's strong dividend history and favorable valuation metrics could be seen as positive signs amidst the broader context of the financial markets.
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