BofA initiated coverage of Washington Trust (WASH) with a Neutral rating and $28 price target The firm believes the bank’s recent balance sheet repositioning reduced net interest margin headwinds and provided “much-needed” cushion to maintain its dividend, but also sees lower rates as likely to remain a near-term earnings headwind, the analyst tells investors.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WASH: