Tudor Investment Corp ET AL Invests $2.62 Million in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Tudor Investment Corp ET AL bought a new position in Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 83,413 shares of the financial services provider's stock, valued at approximately $2,615,000. Tudor Investment Corp ET AL owned approximately 0.43% of Washington Trust Bancorp as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC bought a new stake in shares of Washington Trust Bancorp in the 4th quarter valued at about $1,955,000. Arrowstreet Capital Limited Partnership purchased a new position in Washington Trust Bancorp in the 4th quarter worth approximately $369,000. JPMorgan Chase & Co. lifted its position 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 purchasing an additional 25,029 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Washington Trust Bancorp during the fourth quarter valued at approximately $676,000. Finally, Franklin Resources Inc. bought a new position in shares of Washington Trust Bancorp in the fourth quarter worth approximately $6,824,000. 65.81% of the stock is currently owned by hedge funds and other institutional investors.

Washington Trust Bancorp Trading Down 0.7 %

Shares of WASH traded down $0.20 during trading hours on Friday, reaching $28.39. 24,547 shares of the company traded hands, compared to its average volume of 146,087. Washington Trust Bancorp, Inc. has a 12 month low of $24.70 and a 12 month high of $40.59. The company has a market capitalization of $547.25 million, a price-to-earnings ratio of -18.32 and a beta of 0.89. The company's fifty day moving average price is $28.80 and its two-hundred day moving average price is $32.16. 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 (NASDAQ:WASH - Get Free Report) last posted its quarterly earnings data on Monday, April 21st. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.62 by ($0.01). Washington Trust Bancorp had a positive return on equity of 8.99% and a negative net margin of 6.90%. The firm had revenue of $59.07 million during the quarter, compared to the consensus estimate of $53.16 million. Equities research analysts predict 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 disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 7.89%. The ex-dividend date was Tuesday, April 1st. Washington Trust Bancorp's dividend payout ratio (DPR) is presently -143.59%.

Wall Street Analyst Weigh In

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

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.