Marshall Wace LLP Takes Position in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Marshall Wace LLP bought a new stake in Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 43,505 shares of the financial services provider's stock, valued at approximately $1,364,000. Marshall Wace LLP owned about 0.23% of Washington Trust Bancorp at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Zacks Investment Management boosted its holdings in Washington Trust Bancorp by 41.5% in the 4th quarter. Zacks Investment Management now owns 55,298 shares of the financial services provider's stock valued at $1,734,000 after purchasing an additional 16,228 shares during the last quarter. Walleye Capital LLC acquired a new position in Washington Trust Bancorp in the 4th quarter valued at about $306,000. Barclays PLC boosted its holdings in Washington Trust Bancorp by 5.7% in the 4th quarter. Barclays PLC now owns 56,376 shares of the financial services provider's stock valued at $1,767,000 after purchasing an additional 3,061 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Washington Trust Bancorp in the 4th quarter valued at approximately $2,192,000. Finally, Renaissance Technologies LLC raised its stake in shares of Washington Trust Bancorp by 21.7% in the 4th quarter. Renaissance Technologies LLC now owns 108,668 shares of the financial services provider's stock valued at $3,407,000 after acquiring an additional 19,400 shares during the period. 65.81% of the stock is currently owned by institutional investors and hedge funds.

Washington Trust Bancorp Stock Up 1.3 %

WASH traded up $0.36 during trading hours on Thursday, hitting $27.96. 96,884 shares of the company's stock were exchanged, compared to its average volume of 145,455. Washington Trust Bancorp, Inc. has a 12-month low of $24.70 and a 12-month high of $40.59. The firm has a 50 day moving average of $29.13 and a 200 day moving average of $32.33. The firm has a market cap of $538.96 million, a P/E ratio of -18.04 and a beta of 0.76. 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 (NASDAQ:WASH - Get Free Report) last announced its quarterly earnings data on Monday, April 21st. The financial services provider reported $0.61 EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $59.07 million during the quarter, compared to analysts' expectations of $53.16 million. Analysts predict that Washington Trust Bancorp, Inc. will post 2.76 EPS for the current fiscal year.

Washington Trust Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 8.01%. The ex-dividend date was Tuesday, April 1st. Washington Trust Bancorp's dividend payout ratio is presently -143.59%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on WASH. Keefe, Bruyette & Woods reduced their price target on shares of Washington Trust Bancorp from $34.00 to $31.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 22nd. StockNews.com raised shares of Washington Trust Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, January 31st. Finally, Seaport Res Ptn raised shares of Washington Trust Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 14th.

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.