Retirement Planning Co of New England Inc. bought a new stake in Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 18,636 shares of the financial services provider's stock, valued at approximately $575,000. Retirement Planning Co of New England Inc. owned 0.10% of Washington Trust Bancorp as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. KLP Kapitalforvaltning AS acquired a new position in shares of Washington Trust Bancorp during the 4th quarter valued at $97,000. State of Tennessee Department of Treasury bought a new stake in Washington Trust Bancorp during the 4th quarter valued at approximately $131,000. Sanders Morris Harris LLC acquired a new position in Washington Trust Bancorp in the 1st quarter valued at approximately $216,000. Aquatic Capital Management LLC bought a new stake in shares of Washington Trust Bancorp in the 4th quarter valued at approximately $229,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Washington Trust Bancorp by 3.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,643 shares of the financial services provider's stock worth $302,000 after acquiring an additional 319 shares in the last quarter. Institutional investors and hedge funds own 65.81% of the company's stock.
Washington Trust Bancorp Stock Up 0.0%
WASH traded up $0.01 during mid-day trading on Monday, reaching $29.09. 118,428 shares of the stock were exchanged, compared to its average volume of 153,398. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $561.15 million, a PE ratio of 11.77, a price-to-earnings-growth ratio of 1.01 and a beta of 0.90. Washington Trust Bancorp, Inc. has a 1 year low of $24.95 and a 1 year high of $40.59. The company has a 50 day moving average price of $28.39 and a two-hundred day moving average price of $29.63.
Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last posted its quarterly earnings results on Monday, July 21st. The financial services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.05. Washington Trust Bancorp had a positive return on equity of 8.82% and a negative net margin of 6.60%. During the same quarter in the prior year, the business posted $0.63 earnings per share. As a group, research analysts anticipate that Washington Trust Bancorp, Inc. will post 2.76 EPS for the current year.
Washington Trust Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, July 1st were issued a dividend of $0.56 per share. The ex-dividend date was Tuesday, July 1st. This represents a $2.24 dividend on an annualized basis and a yield of 7.70%. Washington Trust Bancorp's dividend payout ratio (DPR) is -143.59%.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on WASH shares. Bank of America started coverage on Washington Trust Bancorp in a research note on Wednesday, May 28th. They issued a "neutral" rating and a $28.00 price target for the company. Keefe, Bruyette & Woods reduced their price objective on shares of Washington Trust Bancorp from $34.00 to $31.00 and set a "market perform" rating for the company in a research report on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $31.00.
Check Out Our Latest Stock Analysis on Washington Trust Bancorp
Washington Trust Bancorp Profile
(
Free Report)
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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