AQR Capital Management LLC Grows Stock Holdings in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

AQR Capital Management LLC boosted its holdings in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) by 16.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 181,697 shares of the financial services provider's stock after purchasing an additional 26,006 shares during the period. AQR Capital Management LLC owned about 0.94% of Washington Trust Bancorp worth $5,696,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB bought a new position in Washington Trust Bancorp during the 3rd quarter worth $32,000. Hantz Financial Services Inc. lifted 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 buying an additional 2,879 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Washington Trust Bancorp during the 4th quarter worth about $97,000. State of Tennessee Department of Treasury acquired a new position in Washington Trust Bancorp during the 4th quarter worth about $131,000. Finally, Aquatic Capital Management LLC acquired a new position in Washington Trust Bancorp during the 4th quarter worth about $229,000. 65.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. StockNews.com upgraded Washington Trust Bancorp from a "sell" rating to a "hold" rating in a report on Friday, January 31st. Seaport Res Ptn raised shares of Washington Trust Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 14th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of 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.

Washington Trust Bancorp Price Performance

NASDAQ:WASH traded up $1.22 during trading hours on Monday, hitting $29.60. The stock had a trading volume of 142,397 shares, compared to its average volume of 146,932. The company has a 50 day simple moving average of $28.75 and a two-hundred day simple moving average of $32.07. The company has a debt-to-equity ratio of 2.63, a current ratio of 1.10 and a quick ratio of 1.10. Washington Trust Bancorp, Inc. has a one year low of $24.70 and a one year high of $40.59. The firm has a market capitalization of $571.01 million, a price-to-earnings ratio of -19.10 and a beta of 0.89.

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 EPS for the quarter, missing analysts' consensus estimates of $0.62 by ($0.01). The company had revenue of $59.07 million during 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%. Research analysts forecast that Washington Trust Bancorp, Inc. will post 2.76 earnings per share for the current fiscal year.

Washington Trust Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 7.57%. 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.