Washington Trust Bancorp, Inc. $WASH Shares Purchased by AQR Capital Management LLC

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 grew its stake in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) by 5.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 about 0.99% of Washington Trust Bancorp worth $5,886,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of WASH. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings 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 during the period. Linden Thomas Advisory Services LLC increased its holdings in Washington Trust Bancorp by 1.1% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 36,775 shares of the financial services provider's stock worth $1,135,000 after buying an additional 401 shares during the period. Shepherd Financial Partners LLC increased its holdings in Washington Trust Bancorp by 8.8% in the 1st quarter. Shepherd Financial Partners LLC now owns 10,167 shares of the financial services provider's stock worth $314,000 after buying an additional 819 shares during the period. Corebridge Financial Inc. increased its holdings 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 during the period. Finally, MetLife Investment Management LLC increased its holdings in Washington Trust Bancorp by 16.7% in the 1st quarter. MetLife Investment Management LLC now owns 11,170 shares of the financial services provider's stock worth $345,000 after buying an additional 1,597 shares during the period. Institutional investors and hedge funds own 65.81% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on WASH shares. Bank of America started coverage on shares of Washington Trust Bancorp in a report on Wednesday, May 28th. They issued a "neutral" rating and a $28.00 price target on the stock. Piper Sandler lowered Washington Trust Bancorp from a "neutral" rating to an "underweight" rating and set a $28.00 price objective on the stock. 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 MarketBeat, Washington Trust Bancorp has an average rating of "Hold" and an average price target of $29.00.

Washington Trust Bancorp Trading Up 0.3%

Washington Trust Bancorp stock opened at $29.90 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.04 and a debt-to-equity ratio of 1.94. Washington Trust Bancorp, Inc. has a 12 month low of $24.95 and a 12 month high of $40.59. The stock's 50 day simple moving average is $28.83 and its two-hundred day simple moving average is $28.71. The firm has a market cap of $572.88 million, a PE ratio of -19.80, a P/E/G ratio of 0.85 and a beta of 0.94.

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

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.

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