Guggenheim cashes in its chips on a trio of Buy calls, downgrading Washington Trust Bancorp (WASH -2.1%), Investors Bancorp (ISBC -1.7%), and S&T Bancorp (STBA -2.8%) to Neutral. The team also finds a name to upgrade, boosting Comerica (CMA -0.5%) to a Buy, noting the lender's exposure to Texas and California.
Sandler O'Neill chimes in with a couple of upgrades, lifting SVB Financial (SIVB) and Square 1 Financial (SQBK +0.5%) each to Buy. Peapack-Gladstone Financial (PGC -0.5%) is started with a Buy.
Washington Trust Bancorp (WASH) declares $0.25/share quarterly dividend, 4.2% increase from prior dividend of $0.24. Forward yield 3.61%. For shareholders of record Apr. 01. Payable Apr. 12. Ex-div date Mar. 27. (PR)
Washington Trust Bancorp Inc. through its subsidiaries offers financial services to individuals and businesses, including wealth management, through its offices in Rhode Island, eastern Massachusetts and southeastern Connecticut.