Zacks Investment Management Has $1.73 Million Holdings in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Zacks Investment Management raised its position in Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) by 41.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,298 shares of the financial services provider's stock after acquiring an additional 16,228 shares during the quarter. Zacks Investment Management owned 0.29% of Washington Trust Bancorp worth $1,734,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Jane Street Group LLC grew its holdings in Washington Trust Bancorp by 95.6% in the 3rd quarter. Jane Street Group LLC now owns 36,640 shares of the financial services provider's stock worth $1,180,000 after buying an additional 17,906 shares in the last quarter. Barclays PLC increased its holdings in shares of Washington Trust Bancorp by 44.9% in the 3rd quarter. Barclays PLC now owns 53,315 shares of the financial services provider's stock valued at $1,717,000 after purchasing an additional 16,511 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Washington Trust Bancorp during the 3rd quarter valued at $32,000. JPMorgan Chase & Co. boosted its stake in shares of Washington Trust Bancorp by 60.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 66,737 shares of the financial services provider's stock valued at $2,150,000 after buying an additional 25,029 shares during the period. Finally, SG Americas Securities LLC boosted its stake in shares of 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 valued at $383,000 after buying an additional 682 shares during the period. Institutional investors and hedge funds own 65.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. StockNews.com upgraded Washington Trust Bancorp from a "sell" rating to a "hold" rating in a report on Friday, January 31st. Seaport Res Ptn upgraded Washington Trust Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 14th. Finally, Keefe, Bruyette & Woods dropped 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.

Washington Trust Bancorp Trading Up 1.0 %

Shares of WASH traded up $0.28 during trading hours on Thursday, hitting $27.87. 39,450 shares of the stock traded hands, compared to its average volume of 196,064. The business has a fifty day moving average of $29.65 and a 200-day moving average of $32.48. The firm has a market capitalization of $537.22 million, a PE ratio of -17.98 and a beta of 0.76. Washington Trust Bancorp, Inc. has a 1-year low of $24.70 and a 1-year high of $40.59. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 2.63.

Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last announced its quarterly earnings results on Monday, April 21st. The financial services provider reported $0.61 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 company had revenue of $59.07 million during the quarter, compared to the consensus estimate of $53.16 million. Analysts expect that Washington Trust Bancorp, Inc. will post 2.76 EPS for the current year.

Washington Trust Bancorp Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 8.04%. The ex-dividend date of this dividend was Tuesday, April 1st. Washington Trust Bancorp's payout ratio is presently -143.59%.

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.