Wellington Management Group LLP Acquires Shares of 154,800 Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Wellington Management Group LLP purchased a new position in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 154,800 shares of the financial services provider's stock, valued at approximately $4,853,000. Wellington Management Group LLP owned 0.80% of Washington Trust Bancorp as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS acquired a new stake in shares of Washington Trust Bancorp during the 4th quarter valued at about $97,000. State of Tennessee Department of Treasury purchased a new position in Washington Trust Bancorp in the 4th quarter valued at about $131,000. Aquatic Capital Management LLC purchased a new position in Washington Trust Bancorp in the 4th quarter worth approximately $229,000. Essex Financial Services Inc. boosted its holdings 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 worth $231,000 after purchasing an additional 726 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Washington Trust Bancorp by 3.4% during 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 purchasing an additional 319 shares during the last quarter. 65.81% of the stock is owned by institutional investors and hedge funds.

Washington Trust Bancorp Stock Down 0.5%

Shares of WASH stock traded down $0.14 on Thursday, reaching $27.05. 127,659 shares of the stock were exchanged, compared to its average volume of 150,937. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 2.63. Washington Trust Bancorp, Inc. has a twelve month low of $24.70 and a twelve month high of $40.59. The company has a market capitalization of $521.82 million, a price-to-earnings ratio of -17.45 and a beta of 0.89. The business's 50 day moving average price is $27.86 and its 200 day moving average price is $31.04.

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). Washington Trust Bancorp had a negative net margin of 6.90% and a positive return on equity of 8.99%. The company had revenue of $59.07 million during the quarter, compared to analyst estimates of $53.16 million. As a group, sell-side analysts expect that Washington Trust Bancorp, Inc. will post 2.76 earnings per share for the current fiscal year.

Washington Trust Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st were paid a $0.56 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $2.24 annualized dividend and a yield of 8.28%. Washington Trust Bancorp's dividend payout ratio is presently -143.59%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Seaport Res Ptn raised 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 dropped 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, Bank of America assumed coverage on shares of Washington Trust Bancorp in a research note on Wednesday, May 28th. They issued a "neutral" rating and a $28.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $31.00.

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.