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 fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 69,911 shares of the financial services provider's stock, valued at approximately $2,192,000. Raymond James Financial Inc. owned approximately 0.36% of Washington Trust Bancorp as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB purchased a new stake in shares of Washington Trust Bancorp in the third quarter worth about $32,000. Hantz Financial Services Inc. increased its holdings in Washington Trust Bancorp by 15,152.6% during the 4th quarter. Hantz Financial Services Inc. now owns 2,898 shares of the financial services provider's stock worth $91,000 after acquiring an additional 2,879 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Washington Trust Bancorp during the 4th quarter worth approximately $97,000. Essex Financial Services Inc. lifted its stake in Washington Trust Bancorp by 10.9% in 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 bought a new position in Washington Trust Bancorp in the 4th quarter valued at $345,000. Institutional investors own 65.81% of the company's stock.

Wall Street Analyst Weigh In

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

Washington Trust Bancorp Price Performance

Shares of NASDAQ WASH traded up $0.66 during mid-day trading on Friday, reaching $28.62. 161,090 shares of the company were exchanged, compared to its average volume of 145,789. Washington Trust Bancorp, Inc. has a 52 week low of $24.70 and a 52 week high of $40.59. The company's 50 day moving average price is $29.08 and its 200 day moving average price is $32.28. The stock has a market capitalization of $551.68 million, a PE ratio of -18.46 and a beta of 0.89. 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 (NASDAQ:WASH - Get Free Report) last issued its quarterly earnings results on Monday, April 21st. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.01). The firm had revenue of $59.07 million for the quarter, compared to the consensus estimate of $53.16 million. Washington Trust Bancorp had a positive return on equity of 8.99% and a negative net margin of 6.90%. Sell-side analysts forecast that Washington Trust Bancorp, Inc. will post 2.76 earnings per share for the current fiscal year.

Washington Trust Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 7.83%. The ex-dividend date was Tuesday, April 1st. Washington Trust Bancorp's payout ratio is currently -143.59%.

Washington Trust Bancorp Profile

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.