Marshall Wace LLP acquired a new position in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 43,505 shares of the financial services provider's stock, valued at approximately $1,364,000. Marshall Wace LLP owned 0.23% of Washington Trust Bancorp as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new stake in Washington Trust Bancorp in the 3rd quarter valued at $32,000. Hantz Financial Services Inc. boosted its position in shares of Washington Trust Bancorp by 15,152.6% in the fourth quarter. Hantz Financial Services Inc. now owns 2,898 shares of the financial services provider's stock worth $91,000 after buying an additional 2,879 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Washington Trust Bancorp in the fourth quarter valued at about $97,000. Essex Financial Services Inc. raised 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 valued at $231,000 after buying an additional 726 shares during the period. Finally, Walleye Capital LLC acquired a new position in Washington Trust Bancorp during the 4th quarter worth approximately $306,000. Hedge funds and other institutional investors own 65.81% of the company's stock.
Washington Trust Bancorp Stock Up 2.4 %
WASH stock traded up $0.66 during midday trading on Friday, hitting $28.62. 161,090 shares of the company's stock were exchanged, compared to its average volume of 146,100. The stock has a market capitalization of $551.68 million, a price-to-earnings ratio of -18.46 and a beta of 0.89. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 2.63. The firm has a 50 day moving average price of $29.08 and a 200-day moving average price of $32.27. Washington Trust Bancorp, Inc. has a 12-month low of $24.70 and a 12-month high of $40.59.
Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last issued its quarterly earnings results on Monday, April 21st. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $53.16 million. On average, analysts anticipate that Washington Trust Bancorp, Inc. will post 2.76 EPS for the current year.
Washington Trust Bancorp Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st were given 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 7.83%. Washington Trust Bancorp's payout ratio is -143.59%.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on WASH. 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 lowered 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 report on Tuesday, April 22nd. Finally, StockNews.com upgraded shares of Washington Trust Bancorp from a "sell" rating to a "hold" rating in a report on Friday, January 31st.
View Our Latest Research Report on Washington Trust Bancorp
About Washington Trust Bancorp
(
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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