Dimensional Fund Advisors LP Has $29.22 Million Position in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Dimensional Fund Advisors LP boosted its stake in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) by 6.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 932,056 shares of the financial services provider's stock after acquiring an additional 58,176 shares during the period. Dimensional Fund Advisors LP owned 4.84% of Washington Trust Bancorp worth $29,220,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of WASH. Franklin Resources Inc. acquired a new position in Washington Trust Bancorp during the fourth quarter valued at approximately $6,824,000. Wellington Management Group LLP bought a new position in shares of Washington Trust Bancorp in the 4th quarter valued at $4,853,000. Vanguard Group Inc. raised its holdings in shares of Washington Trust Bancorp by 10.6% during the 4th quarter. Vanguard Group Inc. now owns 1,033,333 shares of the financial services provider's stock worth $32,395,000 after buying an additional 98,802 shares in the last quarter. Trexquant Investment LP bought a new stake in shares of Washington Trust Bancorp during the 4th quarter worth $2,597,000. Finally, Prudential Financial Inc. boosted its stake in Washington Trust Bancorp by 1,154.4% in the fourth quarter. Prudential Financial Inc. now owns 86,729 shares of the financial services provider's stock valued at $2,719,000 after buying an additional 79,815 shares in the last quarter. 65.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Washington Trust Bancorp Stock Performance

Washington Trust Bancorp stock opened at $28.28 on Tuesday. The business has a 50 day moving average of $29.02 and a 200-day moving average of $32.24. The company has a market capitalization of $545.13 million, a P/E ratio of -18.25 and a beta of 0.89. Washington Trust Bancorp, Inc. has a 1 year low of $24.70 and a 1 year high of $40.59. 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 (NASDAQ:WASH - Get Free Report) last announced 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 business had revenue of $59.07 million during the quarter, compared to analyst estimates of $53.16 million. Washington Trust Bancorp had a negative net margin of 6.90% and a positive return on equity of 8.99%. On average, equities research analysts predict that Washington Trust Bancorp, Inc. will post 2.76 earnings per share for the current year.

Washington Trust Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 7.92%. The ex-dividend date was Tuesday, April 1st. Washington Trust Bancorp's payout ratio is presently -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.

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