Vanguard Group Inc. lessened its position in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) by 7.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 944,104 shares of the financial services provider's stock after selling 79,727 shares during the period. Vanguard Group Inc. owned about 5.54% of Washington Trust Bancorp worth $24,858,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in WASH. Envestnet Asset Management Inc. grew its holdings in Washington Trust Bancorp by 5.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 7,162 shares of the financial services provider's stock worth $376,000 after acquiring an additional 346 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of Washington Trust Bancorp by 58.1% during the 1st quarter. MetLife Investment Management LLC now owns 8,760 shares of the financial services provider's stock worth $460,000 after buying an additional 3,218 shares during the last quarter. Great West Life Assurance Co. Can lifted its position in shares of Washington Trust Bancorp by 27.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 1,530 shares of the financial services provider's stock worth $84,000 after buying an additional 327 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Washington Trust Bancorp by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 705,739 shares of the financial services provider's stock worth $37,052,000 after buying an additional 17,613 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Washington Trust Bancorp by 12.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 136,326 shares of the financial services provider's stock worth $7,158,000 after buying an additional 15,098 shares during the last quarter. Institutional investors and hedge funds own 65.81% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, Seaport Res Ptn downgraded shares of Washington Trust Bancorp from a "buy" rating to a "neutral" rating in a research report on Wednesday, January 31st.
Read Our Latest Stock Report on WASH
Washington Trust Bancorp Stock Up 0.8 %
Shares of NASDAQ:WASH traded up $0.20 during trading on Friday, hitting $24.92. 145,302 shares of the company were exchanged, compared to its average volume of 94,594. The stock has a market capitalization of $424.39 million, a P/E ratio of 8.87 and a beta of 0.81. The company has a debt-to-equity ratio of 2.57, a current ratio of 1.07 and a quick ratio of 1.07. Washington Trust Bancorp, Inc. has a 12-month low of $21.69 and a 12-month high of $33.96. The firm's 50 day moving average price is $25.96 and its 200-day moving average price is $27.27.
Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last released its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.54 by $0.22. Washington Trust Bancorp had a net margin of 13.19% and a return on equity of 10.53%. The firm had revenue of $45.96 million during the quarter, compared to the consensus estimate of $47.38 million. On average, research analysts predict that Washington Trust Bancorp, Inc. will post 1.87 earnings per share for the current fiscal year.
Washington Trust Bancorp Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Monday, April 1st were given a $0.56 dividend. The ex-dividend date was Thursday, March 28th. This represents a $2.24 annualized dividend and a yield of 8.99%. Washington Trust Bancorp's dividend payout ratio (DPR) is 79.72%.
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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