Russell Investments Group Ltd. reduced its position in shares of Washington Trust Bancorp, Inc. (NASDAQ: WASH – Get a rating) by 17.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The company held 121,407 shares of the financial services provider after selling 26,067 shares during the quarter. Russell Investments Group Ltd. owned 0.70% of Washington Trust Bancorp worth $6,372,000 at the end of the last quarter.
A number of other institutional investors and hedge funds also changed their positions in WASH. Janney Montgomery Scott LLC increased its stake in shares of Washington Trust Bancorp by 4.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 7,016 shares of the financial services provider worth $395,000 after acquiring 300 additional shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Washington Trust Bancorp during the fourth quarter worth approximately $652,000. CWM LLC acquired a new position in shares of Washington Trust Bancorp during the fourth quarter worth approximately $40,000. Qube Research & Technologies Ltd increased its stake in Washington Trust Bancorp by 149.5% during the fourth quarter. Qube Research & Technologies Ltd now owns 19,305 shares of the financial services provider worth $1,088,000 after buying an additional 11,567 shares last quarter. Finally, Aptus Capital Advisors LLC increased its stake in Washington Trust Bancorp by 23.5% during the fourth quarter. Aptus Capital Advisors LLC now owns 38,576 shares of the financial services provider worth $2,175,000 after buying an additional 7,350 shares last quarter. 77.37% of the shares are currently held by institutional investors and hedge funds.
Washington Trust Bancorp price performance
Shares of NASDAQ WASH opened at $53.40 on Tuesday. Washington Trust Bancorp, Inc. has a 12-month low of $45.60 and a 12-month high of $60.96. The company has a market capitalization of $926.70 million, a PE ratio of 12.42 and a beta of 0.77. The company has a debt ratio of 0.74, a current ratio of 0.91 and a quick ratio of 0.91. The company’s 50-day moving average is $50.00 and its two-hundred-day moving average is $51.36.
Washington Trust Bancorp (NASDAQ: WASH – Get a rating) last announced its quarterly results on Monday, July 25. The financial services provider reported earnings per share (EPS) of $1.14 for the quarter, beating the consensus estimate of $0.91 by $0.23. Washington Trust Bancorp had a net margin of 31.97% and a return on equity of 14.28%. During the same period of the previous year, the company achieved EPS of $1.00. Equity analysts expect Washington Trust Bancorp, Inc. to post EPS of 4.19 for the current fiscal year.
Washington Trust Bancorp Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 8. Shareholders of record on Friday, July 1 received a dividend of $0.54. This represents a dividend of $2.16 on an annualized basis and a dividend yield of 4.04%. The ex-dividend date was Thursday, June 30. Washington Trust Bancorp’s dividend payout ratio is currently 50.23%.
Wall Street analysts predict growth
WASH has been the subject of a number of research analyst reports. Compass Point raised its price target on shares of Washington Trust Bancorp to $60.00 and gave the stock an “outperform” rating in a Wednesday, July 27, report. StockNews.com upgraded Washington Trust Bancorp shares from a “sell” to a “hold” rating in a report released Monday, July 18.
Washington Trust Bancorp Company Profile
Washington Trust Bancorp, Inc. operates as a bank holding company for The Washington Trust Company, of Westerly, which provides various banking and financial services to individuals and businesses. The Company operates in two segments, commercial banking services and wealth management services. The Commercial Banking segment offers various commercial and retail lending products, such as commercial real estate loans, including commercial mortgages and construction loans; commercial and industrial loans; residential real estate loans which consist of homeowner mortgages and construction loans; and consumer loans including home equity loans and lines of credit, personal installment loans and personal loans secured by general aviation aircraft.
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