Soros Fund Management LLC Buys Shares of 135,000 Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Soros Fund Management LLC bought a new position in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 135,000 shares of the financial services provider's stock, valued at approximately $4,232,000. Soros Fund Management LLC owned about 0.70% of Washington Trust Bancorp as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Kestra Private Wealth Services LLC raised its holdings in shares of Washington Trust Bancorp by 1.5% during the fourth quarter. Kestra Private Wealth Services LLC now owns 36,015 shares of the financial services provider's stock valued at $1,129,000 after purchasing an additional 544 shares during the period. SG Americas Securities LLC raised its stake in Washington Trust Bancorp by 5.9% during the 4th quarter. SG Americas Securities LLC now owns 12,229 shares of the financial services provider's stock worth $383,000 after buying an additional 682 shares during the period. Essex Financial Services Inc. boosted its holdings in Washington Trust Bancorp by 10.9% in the fourth quarter. Essex Financial Services Inc. now owns 7,366 shares of the financial services provider's stock worth $231,000 after acquiring an additional 726 shares in the last quarter. LPL Financial LLC grew its stake in Washington Trust Bancorp by 4.2% in the fourth quarter. LPL Financial LLC now owns 18,293 shares of the financial services provider's stock valued at $573,000 after acquiring an additional 738 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Washington Trust Bancorp during the third quarter valued at approximately $32,000. 65.81% of the stock is owned by institutional investors and hedge funds.

Washington Trust Bancorp Stock Up 2.4 %

NASDAQ WASH traded up $0.66 on Friday, reaching $28.62. The company had a trading volume of 161,090 shares, compared to its average volume of 146,100. 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 company's fifty day moving average is $29.08 and its 200 day moving average is $32.28. Washington Trust Bancorp, Inc. has a 52-week low of $24.70 and a 52-week high of $40.59. The stock has a market capitalization of $551.68 million, a P/E ratio of -18.46 and a beta of 0.89.

Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last announced its earnings results on Monday, April 21st. The financial services provider reported $0.61 EPS for the quarter, missing the consensus estimate 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. Sell-side analysts anticipate that Washington Trust Bancorp, Inc. will post 2.76 earnings per share for the current fiscal year.

Washington Trust Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders 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 dividend on an annualized basis and a dividend yield of 7.83%. Washington Trust Bancorp's payout ratio is presently -143.59%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WASH. Seaport Res Ptn upgraded Washington Trust Bancorp from a "hold" rating to a "strong-buy" rating in a report on Friday, March 14th. StockNews.com upgraded shares of Washington Trust Bancorp from a "sell" rating to a "hold" rating in a report on Friday, January 31st. Finally, Keefe, Bruyette & Woods lowered their target price 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 Company 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.