Washington Trust Bancorp, Inc. (NASDAQ:WASH) Shares Sold by WASHINGTON TRUST Co

WASHINGTON TRUST Co reduced its position in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 0.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 598,725 shares of the financial services provider’s stock after selling 2,500 shares during the quarter. WASHINGTON TRUST Co’s holdings in Washington Trust Bancorp were worth $19,285,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. EntryPoint Capital LLC grew its stake in Washington Trust Bancorp by 86.3% during the 1st quarter. EntryPoint Capital LLC now owns 1,585 shares of the financial services provider’s stock worth $43,000 after buying an additional 734 shares during the last quarter. CWM LLC boosted its holdings in shares of Washington Trust Bancorp by 29.9% during the second quarter. CWM LLC now owns 3,146 shares of the financial services provider’s stock valued at $86,000 after acquiring an additional 725 shares during the period. Barrett & Company Inc. grew its position in shares of Washington Trust Bancorp by 20.1% during the third quarter. Barrett & Company Inc. now owns 4,694 shares of the financial services provider’s stock worth $151,000 after acquiring an additional 787 shares during the last quarter. Sanders Morris Harris LLC acquired a new stake in shares of Washington Trust Bancorp in the 3rd quarter worth about $206,000. Finally, IFG Advisory LLC bought a new stake in Washington Trust Bancorp in the 2nd quarter valued at about $211,000. 65.81% of the stock is currently owned by institutional investors.

Washington Trust Bancorp Price Performance

Shares of NASDAQ:WASH traded up $0.65 on Wednesday, reaching $35.76. 181,888 shares of the company traded hands, compared to its average volume of 92,323. The company has a debt-to-equity ratio of 3.34, a current ratio of 1.15 and a quick ratio of 1.14. Washington Trust Bancorp, Inc. has a fifty-two week low of $22.88 and a fifty-two week high of $36.09. The stock has a market capitalization of $609.85 million, a PE ratio of 12.96 and a beta of 0.79. The company’s 50 day moving average is $32.28 and its 200-day moving average is $29.13.

Washington Trust Bancorp (NASDAQ:WASH) last announced its quarterly earnings data on Monday, October 21st. The financial services provider reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.08. The firm had revenue of $103.86 million for the quarter, compared to the consensus estimate of $47.32 million. Washington Trust Bancorp had a net margin of 11.24% and a return on equity of 9.71%. During the same period in the previous year, the firm posted $0.65 earnings per share. As a group, analysts anticipate that Washington Trust Bancorp, Inc. will post 2.49 earnings per share for the current fiscal year.

Washington Trust Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 6.26%. The ex-dividend date was Tuesday, October 1st. Washington Trust Bancorp’s dividend payout ratio (DPR) is currently 82.66%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler upgraded Washington Trust Bancorp from an “underweight” rating to a “neutral” rating and raised their target price for the company from $30.00 to $34.00 in a research report on Tuesday, October 22nd.

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.