Analysts at DA Davidson increased their price target on shares of Washington Banking Company (NASDAQ: WBCO) to $14.00 in a research report issued to clients and investors on Monday.
Separately, analysts at Wunderlich reiterated a “buy” rating on shares of Washington Banking Company in a research note to investors on Monday. They now have a $16.00 price target on the stock. Analysts at Stifel Nicolaus initiated coverage on shares of Washington Banking Company in a research note to investors on Wednesday, December 21st. They set a “buy” rating and a $14.00 price target on the stock. Also, analysts at Zacks Investment Research upgraded shares of Washington Banking Company from an “underperform” rating to a “neutral” rating in a research note to investors on Saturday, November 5th.
Washington Banking Company is a bank holding company. The Company’s primary business is conducted by its wholly owned subsidiary, Whidbey Island Bank (the Bank). The business of the Bank, which is focused in the northern area of Western Washington, consists primarily of attracting deposits from the general public and originating loans. The Bank also offers nondeposit managed investment products and services, which are not Federal Deposit Insurance Corporation (FDIC) insured. These programs are provided through the investment advisory companies Elliott Cove Capital Management LLC and DFC Services & DFC Insurance Services. Another nondeposit product offered through the Bank, which is not FDIC insured, is a sweep investment option available through a brokerage account. Rural One, LLC (Rural One) is a majority-owned subsidiary of the Bank and is certified as a Community Development Entity by the Community Development Financial Institutions Fund of the United Stated Department of Treasury.
Washington Banking Company traded up 4.43% on Monday, hitting $13.20. Washington Banking Company has a 52-week low of $9.03 and a 52-week high of $14.28. The stock has a 50-day moving average of $11.91 and a 200-day moving average of $11.. The company has a market cap of $202.8 million and a price-to-earnings ratio of 13.87.