GAMMA Investing LLC Purchases 16,169 Shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH)

GAMMA Investing LLC lifted its position in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) by 4,346.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,541 shares of the financial services provider's stock after buying an additional 16,169 shares during the period. GAMMA Investing LLC owned about 0.09% of Washington Trust Bancorp worth $536,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. KLP Kapitalforvaltning AS acquired a new position in shares of Washington Trust Bancorp during the fourth quarter worth about $97,000. State of Tennessee Department of Treasury acquired a new position in shares of Washington Trust Bancorp during the fourth quarter worth about $131,000. Aquatic Capital Management LLC acquired a new position in shares of Washington Trust Bancorp during the fourth quarter worth about $229,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Washington Trust Bancorp by 3.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,643 shares of the financial services provider's stock worth $302,000 after buying an additional 319 shares during the period. Finally, Walleye Capital LLC bought a new stake in Washington Trust Bancorp during the fourth quarter worth about $306,000. 65.81% of the stock is owned by institutional investors and hedge funds.

Washington Trust Bancorp Stock Performance

NASDAQ:WASH traded down $0.10 on Friday, hitting $26.81. The company's stock had a trading volume of 184,322 shares, compared to its average volume of 152,310. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.67. The stock has a fifty day moving average of $27.89 and a two-hundred day moving average of $30.26. The firm has a market capitalization of $517.19 million, a P/E ratio of -17.19, a price-to-earnings-growth ratio of 0.84 and a beta of 0.91. Washington Trust Bancorp, Inc. has a one year low of $24.95 and a one year high of $40.59.

Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last released its quarterly earnings data on Monday, April 21st. The financial services provider reported $0.61 earnings per share (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 the consensus estimate of $53.16 million. Washington Trust Bancorp had a negative net margin of 6.60% and a positive return on equity of 8.82%. Research analysts predict that Washington Trust Bancorp, Inc. will post 2.76 earnings per share for the current year.

Washington Trust Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be paid a $0.56 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.24 annualized dividend and a yield of 8.36%. Washington Trust Bancorp's dividend payout ratio is -143.59%.

Analyst Ratings Changes

Several analysts recently issued reports on WASH shares. Bank of America started coverage on Washington Trust Bancorp in a report on Wednesday, May 28th. They set a "neutral" rating and a $28.00 target price on the stock. Seaport Res Ptn upgraded Washington Trust Bancorp from a "hold" rating to a "strong-buy" rating in a report on Friday, March 14th. Finally, 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. Four analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Washington Trust Bancorp has a consensus rating of "Hold" and a consensus target price of $31.00.

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.