Russell Investments Group Ltd. reduced its position in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH – Get Rating) by 17.7% in the first quarter, the company said in its recent Form 13F filing with the Securities & Exchange Commission. The company owned 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 most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in WASH. Janney Montgomery Scott LLC increased its stake in Washington Trust Bancorp by 4.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 7,016 shares of the financial services provider valued at $395,000 after purchasing an additional 300 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Washington Trust Bancorp valued at approximately $652,000 during the fourth quarter. CWM LLC acquired a new position in Washington Trust Bancorp stock valued at approximately $40,000 during the fourth quarter. Qube Research & Technologies Ltd increased its stake in Washington Trust Bancorp by 149.5% in the fourth quarter. Qube Research & Technologies Ltd now owns 19,305 shares of the financial services provider, valued at $1,088,000, after purchasing 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 firm valued at $2,175,000 after purchasing an additional 7,350 shares last quarter. 77.37% of the shares are currently owned by institutional investors and hedge funds.
Washington Trust Bancorp price history
NASDAQ WASH shares 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 cap of $926.70 million, a P/E of 12.42 and a beta of 0.77. The company has a debt to equity 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 the two-hundred-day moving average is $51.36.
Washington Trust Bancorp (NASDAQ:WASH – Get Rating) last announced its quarterly earnings results on Monday, July 25th. The financial services firm 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%. In the same period last year, the company earned $1.00 per share. Equity analysts expect Washington Trust Bancorp, Inc. to post 4.19 EPS for the current fiscal year.
Washington Trust Bancorp announces dividend
The company also recently announced a quarterly dividend, which was paid on Friday, July 8th. Stockholders of record on Friday, July 1 received a dividend of $0.54. That equates to a dividend of $2.16 on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend was Thursday June 30th. Washington Trust Bancorp’s payout ratio is currently 50.23%.
Wall Street analysts forecast growth
WASH has been the subject of a number of research analyst reports. Compass Point raised its target price on Washington Trust Bancorp shares to $60.00 and gave the stock a rating of “Outperform” in a report on Wednesday, July. StockNews.com upgraded shares of Washington Trust Bancorp from a “sell” rating to a “hold” rating in a report Monday, July 18.
Company Profile of Washington Trust Bancorp
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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