AQR Capital Management LLC Has $5.89 Million Holdings in Washington Trust Bancorp, Inc. $WASH

Key Points

• AQR Capital Management LLC increased its stake in Washington Trust Bancorp, acquiring an additional 9,032 shares to own 190,729 shares total, valued at approximately $5.89 million.
• Several other institutional investors also boosted their holdings in Washington Trust Bancorp, with the overall institutional ownership now at 65.81%.
• The company reported $0.68 EPS for the latest quarter, surpassing analysts' estimates of $0.63, with a total revenue of $54.26 million.

AQR Capital Management LLC lifted its position in Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) by 5.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 190,729 shares of the financial services provider's stock after acquiring an additional 9,032 shares during the quarter. AQR Capital Management LLC owned approximately 0.99% of Washington Trust Bancorp worth $5,886,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in WASH. Federated Hermes Inc. purchased a new stake in shares of Washington Trust Bancorp in the 1st quarter valued at approximately $53,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Washington Trust Bancorp by 38.1% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,364 shares of the financial services provider's stock worth $196,000 after buying an additional 1,757 shares in the last quarter. Sanders Morris Harris LLC purchased a new stake in Washington Trust Bancorp in the 1st quarter worth approximately $216,000. Corebridge Financial Inc. lifted its position in Washington Trust Bancorp by 11.4% in the 1st quarter. Corebridge Financial Inc. now owns 9,380 shares of the financial services provider's stock worth $289,000 after buying an additional 960 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in 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 buying an additional 319 shares in the last quarter. Hedge funds and other institutional investors own 65.81% of the company's stock.

Washington Trust Bancorp Stock Up 3.7%

Shares of WASH traded up $1.09 during mid-day trading on Thursday, hitting $30.39. 118,563 shares of the company's stock were exchanged, compared to its average volume of 108,438. The firm has a fifty day moving average of $28.82 and a two-hundred day moving average of $28.65. Washington Trust Bancorp, Inc. has a twelve month low of $24.95 and a twelve month high of $40.59. The stock has a market cap of $582.27 million, a price-to-earnings ratio of -20.13, a P/E/G ratio of 0.83 and a beta of 0.94. The company has a quick ratio of 1.04, a current ratio of 1.05 and a debt-to-equity ratio of 1.94.

Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last announced its quarterly earnings results on Monday, July 21st. The financial services provider reported $0.68 EPS for the quarter, topping the consensus estimate of $0.63 by $0.05. Washington Trust Bancorp had a negative net margin of 6.10% and a positive return on equity of 9.05%. The company had revenue of $54.26 million for the quarter, compared to analyst estimates of $54.07 million. During the same quarter in the prior year, the business posted $0.63 EPS. On average, sell-side analysts forecast that Washington Trust Bancorp, Inc. will post 2.76 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Bank of America assumed coverage on shares of Washington Trust Bancorp in a research report on Wednesday, May 28th. They issued a "neutral" rating and a $28.00 target price for the company. Piper Sandler downgraded shares of Washington Trust Bancorp from a "neutral" rating to an "underweight" rating and set a $28.00 target price for the company. in a research report on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $29.00.

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.