Why You Shouldn't Bet Against Washington Trust (WASH) Stock

Zacks Equity Research
May 6, 2014

One stock that might be an intriguing choice for investors right now is Washington Trust Bancorp Inc. (WASH). This is because this security in the Banking & Financial Service industry is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.

This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Banking & Financial Service space as it currently has a Zacks Industry Rank of 73 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.

Meanwhile, Washington Trust is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.

In fact, over the past month, current quarter estimates have risen from 57 cents per share to 60 cents per share, while current year estimates have risen from $2.30 per share to $2.38 per share. This has helped WASH to earn a Zacks Rank #2 (Buy), further underscoring the company’s solid position.

So, if you are looking for a decent pick in a strong industry, consider Washington Trust. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.

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