PDT Partners LLC Buys Shares of 13,339 Washington Trust Bancorp, Inc. (NASDAQ:WASH)

PDT Partners LLC acquired a new stake in Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 13,339 shares of the financial services provider's stock, valued at approximately $418,000. PDT Partners LLC owned 0.07% of Washington Trust Bancorp as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Proficio Capital Partners LLC bought a new position in Washington Trust Bancorp during the 4th quarter worth $1,955,000. Arrowstreet Capital Limited Partnership acquired a new position in Washington Trust Bancorp during the 4th quarter worth about $369,000. JPMorgan Chase & Co. boosted its holdings in Washington Trust Bancorp by 60.0% in the third quarter. JPMorgan Chase & Co. now owns 66,737 shares of the financial services provider's stock valued at $2,150,000 after acquiring an additional 25,029 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in shares of Washington Trust Bancorp in the 4th quarter valued at about $676,000. Finally, Franklin Resources Inc. bought a new stake in shares of Washington Trust Bancorp in the 4th quarter valued at $6,824,000. 65.81% of the stock is currently owned by institutional investors and hedge funds.

Washington Trust Bancorp Stock Up 0.4 %

Shares of NASDAQ:WASH traded up $0.12 during midday trading on Wednesday, reaching $28.22. The company's stock had a trading volume of 19,830 shares, compared to its average volume of 145,576. The firm has a market capitalization of $544.05 million, a P/E ratio of -18.17 and a beta of 0.89. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 2.63. 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 $28.95 and a 200-day moving average of $32.21.

Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last issued its earnings results 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). The firm had revenue of $59.07 million during the quarter, compared to the consensus estimate of $53.16 million. Washington Trust Bancorp had a positive return on equity of 8.99% and a negative net margin of 6.90%. On average, research analysts anticipate that Washington Trust Bancorp, Inc. will post 2.76 earnings per share for the current year.

Washington Trust Bancorp Announces Dividend

The firm also recently declared 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 7.94%. Washington Trust Bancorp's payout ratio is -143.59%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. StockNews.com upgraded Washington Trust Bancorp from a "sell" rating to a "hold" rating in a report on Friday, January 31st. Seaport Res Ptn raised Washington Trust Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 14th. Finally, Keefe, Bruyette & Woods dropped their price objective on 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.

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.