Invesco Ltd. cut its position in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) by 22.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 212,151 shares of the financial services provider's stock after selling 62,836 shares during the quarter. Invesco Ltd. owned 1.10% of Washington Trust Bancorp worth $6,651,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of the company. Franklin Resources Inc. purchased a new position in shares of Washington Trust Bancorp in the fourth quarter valued at $6,824,000. Wellington Management Group LLP acquired a new position in Washington Trust Bancorp during the fourth quarter worth about $4,853,000. Vanguard Group Inc. lifted its holdings in shares of Washington Trust Bancorp by 10.6% in the fourth quarter. Vanguard Group Inc. now owns 1,033,333 shares of the financial services provider's stock valued at $32,395,000 after purchasing an additional 98,802 shares in the last quarter. Trexquant Investment LP purchased a new position in shares of Washington Trust Bancorp during the 4th quarter worth approximately $2,597,000. Finally, Prudential Financial Inc. increased its stake in shares of Washington Trust Bancorp by 1,154.4% during the 4th quarter. Prudential Financial Inc. now owns 86,729 shares of the financial services provider's stock worth $2,719,000 after purchasing an additional 79,815 shares in the last quarter. 65.81% of the stock is currently owned by hedge funds and other institutional investors.
Washington Trust Bancorp Trading Down 1.5 %
NASDAQ WASH traded down $0.41 during trading hours on Wednesday, hitting $27.60. 129,121 shares of the company's stock were exchanged, compared to its average volume of 145,418. The business's 50 day moving average is $29.20 and its 200-day moving average is $32.36. The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.10 and a current ratio of 1.10. Washington Trust Bancorp, Inc. has a 12-month low of $24.70 and a 12-month high of $40.59. The firm has a market capitalization of $532.02 million, a P/E ratio of -17.81 and a beta of 0.76.
Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last announced its quarterly earnings data 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). Washington Trust Bancorp had a positive return on equity of 8.99% and a negative net margin of 6.90%. The company had revenue of $59.07 million for the quarter, compared to analysts' expectations of $53.16 million. As a group, analysts anticipate that Washington Trust Bancorp, Inc. will post 2.76 EPS 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. Stockholders of record on Tuesday, April 1st were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.24 annualized dividend and a dividend yield of 8.12%. Washington Trust Bancorp's dividend payout ratio is presently -143.59%.
Wall Street Analyst Weigh In
WASH has been the subject of a number of recent research reports. StockNews.com upgraded Washington Trust Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, January 31st. 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, 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.
Check Out Our Latest Analysis on Washington Trust Bancorp
Washington Trust Bancorp Profile
(
Free Report)
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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