Tudor Investment Corp ET AL Makes New Investment in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Tudor Investment Corp ET AL purchased a new stake in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 83,413 shares of the financial services provider's stock, valued at approximately $2,615,000. Tudor Investment Corp ET AL owned about 0.43% of Washington Trust Bancorp as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of WASH. Wilmington Savings Fund Society FSB purchased a new stake in Washington Trust Bancorp in the third quarter worth $32,000. Hantz Financial Services Inc. increased its position in Washington Trust Bancorp by 15,152.6% in the fourth quarter. Hantz Financial Services Inc. now owns 2,898 shares of the financial services provider's stock worth $91,000 after purchasing an additional 2,879 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in Washington Trust Bancorp in the fourth quarter worth $97,000. State of Tennessee Department of Treasury bought a new stake in shares of Washington Trust Bancorp during the fourth quarter worth $131,000. Finally, Aquatic Capital Management LLC bought a new stake in shares of Washington Trust Bancorp in the fourth quarter valued at about $229,000. Institutional investors own 65.81% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on WASH. Seaport Res Ptn raised shares of Washington Trust Bancorp from a "hold" rating to a "strong-buy" rating in a report on Friday, March 14th. Keefe, Bruyette & Woods reduced their target price 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 raised shares of Washington Trust Bancorp from a "sell" rating to a "hold" rating in a report on Friday, January 31st.

Washington Trust Bancorp Stock Down 0.6 %

WASH stock traded down $0.18 during midday trading on Tuesday, reaching $28.10. The company had a trading volume of 94,240 shares, compared to its average volume of 146,048. Washington Trust Bancorp, Inc. has a 1 year low of $24.70 and a 1 year high of $40.59. The company has a 50 day moving average of $28.95 and a two-hundred day moving average of $32.21. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 2.63. The company has a market capitalization of $541.66 million, a P/E ratio of -18.13 and a beta of 0.89.

Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last issued 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 company had revenue of $59.07 million for the quarter, compared to analyst estimates 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, equities research analysts expect that Washington Trust Bancorp, Inc. will post 2.76 earnings per share for the current fiscal year.

Washington Trust Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 7.97%. The ex-dividend date was Tuesday, April 1st. Washington Trust Bancorp's dividend payout ratio (DPR) is presently -143.59%.

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.