Short Interest in Washington Trust Bancorp, Inc. (NASDAQ:WASH) Rises By 27.3%

Washington Trust Bancorp, Inc. (NASDAQ:WASH - Get Free Report) was the recipient of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 827,700 shares, a growth of 27.3% from the March 31st total of 650,300 shares. Based on an average daily trading volume, of 195,900 shares, the short-interest ratio is presently 4.2 days. Approximately 4.4% of the company's shares are short sold.

Washington Trust Bancorp Stock Up 2.4 %

Shares of WASH traded up $0.66 during mid-day trading on Friday, reaching $28.62. 161,090 shares of the stock traded hands, compared to its average volume of 146,100. The stock has a fifty day simple moving average of $29.08 and a 200 day simple moving average of $32.27. Washington Trust Bancorp has a 12-month low of $24.70 and a 12-month high of $40.59. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 2.63. The firm has a market cap of $551.68 million, a price-to-earnings ratio of -18.46 and a beta of 0.89.

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

Washington Trust Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 7.83%. The ex-dividend date was Tuesday, April 1st. Washington Trust Bancorp's dividend payout ratio (DPR) is -143.59%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on WASH shares. Seaport Res Ptn upgraded shares of Washington Trust Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 14th. Keefe, Bruyette & Woods lowered their price target on 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 Washington Trust Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, January 31st.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB acquired a new position in shares of Washington Trust Bancorp during the third quarter valued at $32,000. Hantz Financial Services Inc. raised its holdings in shares of Washington Trust Bancorp by 15,152.6% during the fourth quarter. Hantz Financial Services Inc. now owns 2,898 shares of the financial services provider's stock valued at $91,000 after buying an additional 2,879 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Washington Trust Bancorp during the fourth quarter worth approximately $97,000. State of Tennessee Department of Treasury bought a new position in Washington Trust Bancorp in the 4th quarter worth approximately $131,000. Finally, Sanders Morris Harris LLC bought a new stake in Washington Trust Bancorp during the 1st quarter valued at $216,000. 65.81% of the stock is currently owned by institutional investors.

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.