Hennion & Walsh Asset Management Inc. acquired a new position in Washington Trust Bancorp, Inc. (NASDAQ:WASH – Get Rating) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,199 shares of the financial services provider, valued at approximately $325,000.
Several other institutional investors recently changed their holdings in the company. WASHINGTON TRUST Co increased its holding in Washington Trust Bancorp by 0.7% during the fourth quarter. WASHINGTON TRUST Co now owns 683,713 shares of the financial services provider, valued at $38,541,000, after purchasing an additional 5,073 shares last quarter. JPMorgan Chase & Co. increased its holding in Washington Trust Bancorp by 1.3% in the fourth quarter. JPMorgan Chase & Co. now owns 477,109 shares of the financial services provider, valued at $26,894,000, after purchasing an additional 6,103 shares last quarter. Principal Financial Group Inc. increased its stake in Washington Trust Bancorp by 2.4% in the fourth quarter. Principal Financial Group Inc. now owns 416,047 shares of the financial services provider, valued at $23,196,000, after purchasing an additional 9,597 shares last quarter. Boston Trust Walden Corp increased its stake in Washington Trust Bancorp by 2.1% during the first quarter. Boston Trust Walden Corp now owns 323,337 shares of the financial services firm valued at $16,975,000 after purchasing an additional 6,652 shares last quarter. Finally, Victory Capital Management Inc. increased its stake in Washington Trust Bancorp by 12.2% during the fourth quarter. Victory Capital Management Inc. now owns 168,899 shares of the financial services provider, valued at $9,521,000, after purchasing an additional 18,406 shares last quarter. Institutional investors and hedge funds own 77.37% of the company’s shares.
Shares of WASH stock opened at $47.86 on Friday. Washington Trust Bancorp, Inc. has a 52-week low of $45.60 and a 52-week high of $60.96. The stock has a market cap of $830.56 million, a price-to-earnings ratio of 11.50 and a beta of 0.74. The company has a debt to equity ratio of 0.15, a quick ratio of 0.87 and a current ratio of 0.88. The company has a 50-day moving average of $48.57 and a 200-day moving average of $52.23.
Washington Trust Bancorp (NASDAQ:WASH – Get Rating) last announced its quarterly earnings data on Monday, April 25th. The financial services firm reported earnings per share (EPS) of $0.94 for the quarter, beating analyst consensus estimates of $0.91 by $0.03. Washington Trust Bancorp had a net margin of 30.69% and a return on equity of 13.35%. The company had revenue of $52.25 million for the quarter, compared to analysts’ expectations of $53.40 million. In the same quarter last year, the company posted $1.17 per share. On average, sell-side analysts are forecasting that Washington Trust Bancorp, Inc. will post year-to-date earnings per share of 3.82.
The company also recently announced a quarterly dividend, which was paid on Friday, July 8th. Stockholders of record as of Friday, July 1 were paid a dividend of $0.54. That equates to a dividend of $2.16 on an annualized basis and a dividend yield of 4.51%. The ex-dividend date was Thursday June 30th. Washington Trust Bancorp’s payout ratio is 51.92%.
Several research companies have recently commented on WASH. Piper Sandler lowered shares of Washington Trust Bancorp from an “overweight” rating to a “neutral” rating and set a price target of $56.00 for the company. in a research note on Thursday, April 7th. StockNews.com lowered shares of Washington Trust Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, July 8th.
Washington Trust Bancorp Profile (received rating)
Washington Trust Bancorp, Inc acts as the bank holding company for The Washington Trust Company of Westerly, which provides a variety of banking and financial services to individuals and businesses. The Company operates through two segments, Commercial Banking and Wealth Management Services. The Commercial Banking segment offers various commercial and personal lending products such as: B. commercial real estate loans, including commercial mortgages and construction loans; commercial and industrial loans; residential real estate loans, which consist of mortgage loans and homeowner construction loans; and consumer lending, which includes home equity loans and lines of credit, personal installment loans, and loans to individuals secured by general aviation aircraft.
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