Washington Trust Bancorp, Inc. (NASDAQ:WASH) Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC raised its stake in Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) by 21.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 108,668 shares of the financial services provider's stock after buying an additional 19,400 shares during the period. Renaissance Technologies LLC owned about 0.56% of Washington Trust Bancorp worth $3,407,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in WASH. Proficio Capital Partners LLC purchased a new position in shares of Washington Trust Bancorp during the fourth quarter worth approximately $1,955,000. Barclays PLC increased its position in shares of Washington Trust Bancorp by 44.9% during the third quarter. Barclays PLC now owns 53,315 shares of the financial services provider's stock worth $1,717,000 after acquiring an additional 16,511 shares during the period. Jane Street Group LLC increased its position in shares of Washington Trust Bancorp by 95.6% during the third quarter. Jane Street Group LLC now owns 36,640 shares of the financial services provider's stock worth $1,180,000 after acquiring an additional 17,906 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of Washington Trust Bancorp during the fourth quarter worth approximately $369,000. Finally, JPMorgan Chase & Co. increased its position in shares of Washington Trust Bancorp by 60.0% during the third quarter. JPMorgan Chase & Co. now owns 66,737 shares of the financial services provider's stock worth $2,150,000 after acquiring an additional 25,029 shares during the period. 65.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

WASH has been the topic of a number of research reports. StockNews.com raised shares of Washington Trust Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, January 31st. 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. Finally, 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 on the stock in a report on Tuesday, April 22nd.

Washington Trust Bancorp Stock Up 0.4 %

WASH stock traded up $0.10 during trading on Monday, hitting $27.83. 137,356 shares of the company's stock traded hands, compared to its average volume of 144,476. The firm has a market capitalization of $536.45 million, a P/E ratio of -17.95 and a beta of 0.76. The business has a fifty day simple moving average of $29.36 and a two-hundred day simple moving average of $32.42. 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 1 year low of $24.70 and a 1 year high of $40.59.

Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $59.07 million for the quarter, compared to analysts' expectations of $53.16 million. Washington Trust Bancorp had a negative net margin of 6.90% and a positive return on equity of 8.99%. Sell-side analysts anticipate that Washington Trust Bancorp, Inc. will post 2.76 EPS for the current year.

Washington Trust Bancorp Announces Dividend

The company also recently announced 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 of this dividend was Tuesday, April 1st. This represents a $2.24 annualized dividend and a yield of 8.05%. Washington Trust Bancorp's dividend payout ratio (DPR) is -143.59%.

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.