Squarepoint Ops LLC Purchases Shares of 14,309 Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Squarepoint Ops LLC bought a new position in Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 14,309 shares of the financial services provider's stock, valued at approximately $449,000. Squarepoint Ops LLC owned approximately 0.07% of Washington Trust Bancorp as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in WASH. Kestra Private Wealth Services LLC raised its holdings in shares of Washington Trust Bancorp by 1.5% during the 4th quarter. Kestra Private Wealth Services LLC now owns 36,015 shares of the financial services provider's stock valued at $1,129,000 after purchasing an additional 544 shares in the last quarter. Essex Financial Services Inc. increased its position in Washington Trust Bancorp by 10.9% during the fourth quarter. Essex Financial Services Inc. now owns 7,366 shares of the financial services provider's stock worth $231,000 after buying an additional 726 shares during the last quarter. Proficio Capital Partners LLC bought a new position in Washington Trust Bancorp during the fourth quarter valued at about $1,955,000. Victory Capital Management Inc. lifted its position in shares of Washington Trust Bancorp by 22.5% in the fourth quarter. Victory Capital Management Inc. now owns 26,700 shares of the financial services provider's stock worth $837,000 after buying an additional 4,900 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Washington Trust Bancorp in the fourth quarter worth about $2,192,000. 65.81% of the stock is owned by institutional investors.

Washington Trust Bancorp Stock Performance

NASDAQ:WASH traded up $0.65 during mid-day trading on Friday, hitting $27.70. 123,266 shares of the company's stock traded hands, compared to its average volume of 151,403. The firm has a market capitalization of $534.36 million, a price-to-earnings ratio of -17.87 and a beta of 0.91. The firm has a 50 day moving average of $27.82 and a two-hundred day moving average of $30.90. 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 12 month low of $24.70 and a 12 month high of $40.59.

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). Washington Trust Bancorp had a positive return on equity of 8.99% and a negative net margin of 6.90%. The business had revenue of $59.07 million for the quarter, compared to analyst estimates of $53.16 million. On average, equities 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 business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 8.09%. The ex-dividend date was Tuesday, April 1st. Washington Trust Bancorp's dividend payout ratio (DPR) is presently -143.59%.

Wall Street Analyst Weigh In

WASH has been the topic of a number of analyst reports. Seaport Res Ptn raised Washington Trust Bancorp from a "hold" rating to a "strong-buy" rating in a report on Friday, March 14th. Bank of America initiated coverage on Washington Trust Bancorp in a research report on Wednesday, May 28th. They set a "neutral" rating and a $28.00 target price for the company. 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. Four investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Washington Trust Bancorp has a consensus rating of "Hold" and a consensus price target of $31.00.

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.