Jane Street Group LLC Sells 12,919 Shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Jane Street Group LLC lessened its stake in Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) by 35.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,721 shares of the financial services provider's stock after selling 12,919 shares during the period. Jane Street Group LLC owned approximately 0.12% of Washington Trust Bancorp worth $744,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in WASH. Hantz Financial Services Inc. boosted its stake in shares of Washington Trust Bancorp by 15,152.6% in the 4th quarter. Hantz Financial Services Inc. now owns 2,898 shares of the financial services provider's stock worth $91,000 after buying an additional 2,879 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in Washington Trust Bancorp in the fourth quarter valued at about $97,000. State of Tennessee Department of Treasury purchased a new position in Washington Trust Bancorp in the fourth quarter worth about $131,000. Aquatic Capital Management LLC bought a new stake in shares of Washington Trust Bancorp during the 4th quarter valued at about $229,000. Finally, Essex Financial Services Inc. grew its stake in shares of Washington Trust Bancorp by 10.9% during the 4th quarter. Essex Financial Services Inc. now owns 7,366 shares of the financial services provider's stock valued at $231,000 after purchasing an additional 726 shares during the period. 65.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WASH has been the topic of several recent research reports. Bank of America initiated coverage on shares of Washington Trust Bancorp in a research note on Wednesday. They issued a "neutral" rating and a $28.00 price objective on the stock. Seaport Res Ptn upgraded shares of Washington Trust Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 14th. Keefe, Bruyette & Woods cut 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. Finally, Wall Street Zen upgraded Washington Trust Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, January 31st. Four research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Washington Trust Bancorp currently has an average rating of "Hold" and a consensus price target of $31.00.

Washington Trust Bancorp Stock Performance

Shares of NASDAQ:WASH traded down $0.07 during mid-day trading on Friday, reaching $27.79. 2,803 shares of the company traded hands, compared to its average volume of 149,147. The company's 50 day moving average price is $28.24 and its 200-day moving average price is $31.42. The firm has a market cap of $536.10 million, a PE ratio of -17.93 and a beta of 0.89. Washington Trust Bancorp, Inc. has a 52 week low of $24.70 and a 52 week high of $40.59. 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 (NASDAQ:WASH - Get Free Report) last issued its quarterly earnings results on Monday, April 21st. The financial services provider reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.01). The firm had revenue of $59.07 million for 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 expect that Washington Trust Bancorp, Inc. will post 2.76 EPS for the current fiscal year.

Washington Trust Bancorp Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Tuesday, April 1st. This represents a $2.24 dividend on an annualized basis and a yield of 8.06%. Washington Trust Bancorp's dividend payout ratio is presently -143.59%.

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.