Raymond James Financial Inc. Takes Position in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Raymond James Financial Inc. acquired a new position in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 69,911 shares of the financial services provider's stock, valued at approximately $2,192,000. Raymond James Financial Inc. owned about 0.36% of Washington Trust Bancorp at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Washington Trust Bancorp in the 3rd quarter valued at $32,000. Hantz Financial Services Inc. raised its position in shares of Washington Trust Bancorp by 15,152.6% during the fourth quarter. Hantz Financial Services Inc. now owns 2,898 shares of the financial services provider's stock worth $91,000 after purchasing an additional 2,879 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Washington Trust Bancorp in the 4th quarter valued at approximately $97,000. Essex Financial Services Inc. increased its stake in Washington Trust Bancorp by 10.9% during the 4th quarter. Essex Financial Services Inc. now owns 7,366 shares of the financial services provider's stock worth $231,000 after purchasing an additional 726 shares in the last quarter. Finally, AlphaQuest LLC acquired a new stake in Washington Trust Bancorp during the 4th quarter worth approximately $345,000. Institutional investors own 65.81% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. StockNews.com raised shares of Washington Trust Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, January 31st. Seaport Res Ptn upgraded Washington Trust Bancorp from a "hold" rating to a "strong-buy" rating in a report on Friday, March 14th. Finally, Keefe, Bruyette & Woods decreased their price objective on Washington Trust Bancorp from $34.00 to $31.00 and set a "market perform" rating for the company in a report on Tuesday, April 22nd.

Washington Trust Bancorp Stock Down 0.6 %

WASH traded down $0.18 during trading hours on Tuesday, hitting $28.10. 94,240 shares of the company's stock were exchanged, compared to its average volume of 146,048. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 2.63. Washington Trust Bancorp, Inc. has a 1-year low of $24.70 and a 1-year high of $40.59. The stock's 50-day moving average is $28.95 and its two-hundred day moving average is $32.21. The stock has a market cap of $541.66 million, a price-to-earnings ratio of -18.13 and a beta of 0.89.

Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last announced its quarterly earnings data on Monday, April 21st. The financial services provider reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.01). Washington Trust Bancorp had a negative net margin of 6.90% and a positive return on equity of 8.99%. The company had revenue of $59.07 million during the quarter, compared to the consensus estimate of $53.16 million. Sell-side analysts predict that Washington Trust Bancorp, Inc. will post 2.76 earnings per share for the current fiscal year.

Washington Trust Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st were paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 7.97%. The ex-dividend date of this dividend was Tuesday, April 1st. Washington Trust Bancorp's dividend payout ratio is currently -143.59%.

About Washington Trust Bancorp

Washington Trust Bancorp, Inc operates as the bank holding company for The Washington Trust Company, of Westerly that provides various banking and financial services to individuals and businesses. The company operates in two segments, Commercial Banking and Wealth Management Services. The Commercial Banking segment offers deposit accounts, including interest-bearing and noninterest-bearing demand deposits, NOW and savings accounts, money market and retirement deposit accounts, and time deposits; various commercial and retail lending products, such as commercial real estate loans, including commercial mortgages, and construction and development loans; commercial and industrial loans comprising working capital, equipment financing, and financing for other business-related purposes; residential real estate loans that consist of mortgage and homeowner construction loans; and consumer loans comprising home equity loans and lines of credit, personal installment loans, and loans to individuals secured by general aviation aircraft.