Washington Trust Bancorp, Inc. (NASDAQ:WASH) Shares Purchased by Northern Trust Corp

Northern Trust Corp lifted its stake in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) by 8.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 174,017 shares of the financial services provider's stock after acquiring an additional 14,142 shares during the quarter. Northern Trust Corp owned 0.90% of Washington Trust Bancorp worth $5,455,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. The Manufacturers Life Insurance Company increased its position in shares of Washington Trust Bancorp by 6,117.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 403,749 shares of the financial services provider's stock worth $12,658,000 after acquiring an additional 397,255 shares during the period. Tudor Investment Corp ET AL purchased a new stake in shares of Washington Trust Bancorp during the fourth quarter worth $2,615,000. Aquatic Capital Management LLC purchased a new stake in shares of Washington Trust Bancorp during the fourth quarter worth $229,000. Price T Rowe Associates Inc. MD increased its position in shares of Washington Trust Bancorp by 11.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,756 shares of the financial services provider's stock worth $400,000 after acquiring an additional 1,348 shares during the period. Finally, Hsbc Holdings PLC increased its position in shares of Washington Trust Bancorp by 70.3% during the fourth quarter. Hsbc Holdings PLC now owns 16,699 shares of the financial services provider's stock worth $523,000 after acquiring an additional 6,894 shares during the period. Hedge funds and other institutional investors own 65.81% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on WASH shares. Seaport Res Ptn raised Washington Trust Bancorp from a "hold" rating to a "strong-buy" rating in a report on Friday, March 14th. Keefe, Bruyette & Woods dropped their target price on 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. Finally, Wall Street Zen raised Washington Trust Bancorp from a "sell" rating to a "hold" rating in a report on Friday, January 31st.

Washington Trust Bancorp Stock Down 0.8%

NASDAQ:WASH traded down $0.23 during trading hours on Friday, hitting $27.75. The company's stock had a trading volume of 173,584 shares, compared to its average volume of 148,990. The stock has a market capitalization of $535.33 million, a P/E ratio of -17.90 and a beta of 0.89. The stock has a fifty day moving average of $28.53 and a 200-day moving average of $31.73. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 2.63. Washington Trust Bancorp, Inc. has a 52-week low of $24.70 and a 52-week high of $40.59.

Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last posted its earnings results on Monday, April 21st. The financial services provider reported $0.61 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 analysts' expectations 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 analysts forecast that Washington Trust Bancorp, Inc. will post 2.76 earnings per share for the current year.

Washington Trust Bancorp Dividend Announcement

The company also recently disclosed 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 dividend yield of 8.07%. The ex-dividend date was Tuesday, April 1st. Washington Trust Bancorp's payout ratio is -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.