Walleye Capital LLC Takes $306,000 Position in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Walleye Capital LLC bought a new stake in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 9,775 shares of the financial services provider's stock, valued at approximately $306,000. Walleye Capital LLC owned approximately 0.05% of Washington Trust Bancorp at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Washington Trust Bancorp during the third quarter valued at about $32,000. Hantz Financial Services Inc. increased its stake in Washington Trust Bancorp by 15,152.6% during the 4th 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 period. KLP Kapitalforvaltning AS bought a new stake in shares of Washington Trust Bancorp during the 4th quarter worth about $97,000. Essex Financial Services Inc. lifted its stake in shares of Washington Trust Bancorp by 10.9% in the 4th 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 during the period. Finally, AlphaQuest LLC bought a new position in shares of Washington Trust Bancorp in the fourth quarter valued at approximately $345,000. Institutional investors and hedge funds own 65.81% of the company's stock.

Analyst Upgrades and Downgrades

WASH has been the subject of a number of research analyst reports. Seaport Res Ptn upgraded Washington Trust Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 14th. StockNews.com raised shares of Washington Trust Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Washington Trust Bancorp from $34.00 to $31.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 22nd.

Washington Trust Bancorp Trading Down 1.5 %

WASH traded down $0.41 during trading on Wednesday, reaching $27.60. The company had a trading volume of 129,121 shares, compared to its average volume of 145,418. The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.10 and a current ratio of 1.10. 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 cap of $532.02 million, a price-to-earnings ratio of -17.81 and a beta of 0.76. The firm's 50-day simple moving average is $29.20 and its 200 day simple moving average is $32.36.

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 analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $53.16 million. Equities research analysts anticipate that Washington Trust Bancorp, Inc. will post 2.76 earnings per share for the current year.

Washington Trust Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st were issued a dividend of $0.56 per share. 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 8.12%. Washington Trust Bancorp's dividend payout ratio is -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.