Other institutional investors and hedge funds also recently bought and sold shares of the company. Hantz Financial Services Inc. boosted its stake in Washington Trust Bancorp by 15,152.6% during the fourth quarter. Hantz Financial Services Inc. now owns 2,898 shares of the financial services provider’s stock worth $91,000 after buying an additional 2,879 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Washington Trust Bancorp during the fourth quarter worth $97,000. State of Tennessee Department of Treasury purchased a new position in Washington Trust Bancorp during the fourth quarter worth $131,000. Aquatic Capital Management LLC purchased a new position in Washington Trust Bancorp during the fourth quarter worth $229,000. Finally, Essex Financial Services Inc. boosted its stake in Washington Trust Bancorp by 10.9% during the fourth quarter. Essex Financial Services Inc. now owns 7,366 shares of the financial services provider’s stock worth $231,000 after buying an additional 726 shares during the period. 65.81% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have commented on WASH shares. Keefe, Bruyette & Woods dropped their price objective on shares of Washington Trust Bancorp from $34.00 to $31.00 and set a “market perform” rating for the company in a research note on Tuesday, April 22nd. Bank of America began coverage on shares of Washington Trust Bancorp in a report on Wednesday. They issued a “neutral” rating and a $28.00 price target on the stock. Finally, Seaport Res Ptn upgraded shares of Washington Trust Bancorp from a “hold” rating to a “strong-buy” rating in a report on Friday, March 14th. Four equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.00.

View Our Latest Analysis on Washington Trust Bancorp

Washington Trust Bancorp stock opened at $27.83 on Friday. The stock has a market cap of $536.87 million, a price-to-earnings ratio of -17.95 and a beta of 0.89. The company has a debt-to-equity ratio of 2.63, a current ratio of 1.10 and a quick ratio of 1.10. Washington Trust Bancorp, Inc. has a 1 year low of $24.70 and a 1 year high of $40.59. The firm has a 50-day moving average of $28.16 and a two-hundred day moving average of $31.29.

Washington Trust Bancorp (NASDAQ:WASH – Get Free Report) last released its quarterly earnings data on Monday, April 21st. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $53.16 million. On average, research analysts forecast that Washington Trust Bancorp, Inc. will post 2.76 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st were given a $0.56 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.24 annualized dividend and a dividend yield of 8.05%. Washington Trust Bancorp’s payout ratio is presently -143.59%.

(Free Report)

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.

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