Dimensional Fund Advisors LP Increases Position in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Dimensional Fund Advisors LP raised its position in Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) by 6.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 932,056 shares of the financial services provider's stock after buying an additional 58,176 shares during the quarter. Dimensional Fund Advisors LP owned about 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 made changes to their positions in WASH. Vanguard Group Inc. raised its stake in Washington Trust Bancorp by 10.6% in the 4th quarter. Vanguard Group Inc. now owns 1,033,333 shares of the financial services provider's stock valued at $32,395,000 after acquiring an additional 98,802 shares during the period. Geode Capital Management LLC lifted its stake in shares of Washington Trust Bancorp by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 414,527 shares of the financial services provider's stock valued at $12,999,000 after buying an additional 2,181 shares in the last quarter. American Century Companies Inc. boosted its holdings in Washington Trust Bancorp by 1.2% in the 4th quarter. American Century Companies Inc. now owns 325,169 shares of the financial services provider's stock worth $10,194,000 after buying an additional 3,697 shares during the period. Franklin Resources Inc. bought a new position in Washington Trust Bancorp in the 4th quarter worth approximately $6,824,000. Finally, Wellington Management Group LLP purchased a new position in Washington Trust Bancorp in the 4th quarter valued at approximately $4,853,000. Hedge funds and other institutional investors own 65.81% of the company's stock.

Washington Trust Bancorp Price Performance

NASDAQ:WASH traded down $0.21 during trading hours on Friday, hitting $28.38. 89,746 shares of the company's stock traded hands, compared to its average volume of 146,950. Washington Trust Bancorp, Inc. has a 52 week low of $24.70 and a 52 week high of $40.59. The business's fifty day simple moving average is $28.75 and its two-hundred day simple moving average is $32.07. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 2.63. The firm has a market cap of $547.05 million, a P/E ratio of -18.31 and a beta of 0.89.

Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last announced its earnings results on Monday, April 21st. The financial services provider reported $0.61 earnings per share for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $53.16 million. On average, research analysts anticipate that Washington Trust Bancorp, Inc. will post 2.76 earnings per share for the current fiscal year.

Washington Trust Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were given a $0.56 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $2.24 annualized dividend and a yield of 7.89%. Washington Trust Bancorp's dividend payout ratio (DPR) is presently -143.59%.

Analysts Set New Price Targets

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

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.