Two Sigma Investments LP Increases Stake in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Two Sigma Investments LP boosted its position in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) by 36.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,380 shares of the financial services provider's stock after acquiring an additional 24,132 shares during the period. Two Sigma Investments LP owned 0.47% of Washington Trust Bancorp worth $2,833,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Proficio Capital Partners LLC purchased a new position in Washington Trust Bancorp during the fourth quarter valued at approximately $1,955,000. Arrowstreet Capital Limited Partnership purchased a new position in Washington Trust Bancorp during the fourth quarter valued at approximately $369,000. BNP Paribas Financial Markets grew its stake in Washington Trust Bancorp by 17.9% during the fourth quarter. BNP Paribas Financial Markets now owns 16,170 shares of the financial services provider's stock valued at $507,000 after acquiring an additional 2,455 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in Washington Trust Bancorp during the fourth quarter valued at approximately $676,000. Finally, Franklin Resources Inc. purchased a new position in Washington Trust Bancorp during the fourth quarter valued at approximately $6,824,000. Hedge funds and other institutional investors own 65.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on WASH shares. Bank of America initiated coverage on shares of Washington Trust Bancorp in a research note on Wednesday, May 28th. They set a "neutral" rating and a $28.00 price objective for the company. Keefe, Bruyette & Woods cut their price target on shares of Washington Trust Bancorp from $34.00 to $31.00 and set a "market perform" rating for the company in a research note on Tuesday, April 22nd. Finally, 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. Four equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. According to MarketBeat, Washington Trust Bancorp presently has a consensus rating of "Hold" and an average target price of $31.00.

Washington Trust Bancorp Price Performance

WASH stock traded down $0.82 during midday trading on Wednesday, reaching $27.19. The company had a trading volume of 138,746 shares, compared to its average volume of 150,731. 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, Inc. has a 1 year low of $24.70 and a 1 year high of $40.59. The company has a market capitalization of $524.52 million, a P/E ratio of -17.54 and a beta of 0.89. The firm has a 50-day moving average price of $27.94 and a 200-day moving average price of $31.11.

Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last released 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 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st were paid a $0.56 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 8.24%. Washington Trust Bancorp's dividend payout ratio (DPR) is -143.59%.

Washington Trust Bancorp Company 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.