Institutional investors have recently added to or reduced their stakes in the company. Proficio Capital Partners LLC acquired a new position in shares of Washington Trust Bancorp during the fourth quarter worth about $1,955,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Washington Trust Bancorp during the 4th quarter valued at about $369,000. JPMorgan Chase & Co. lifted its position in Washington Trust Bancorp by 60.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 66,737 shares of the financial services provider’s stock worth $2,150,000 after acquiring an additional 25,029 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in Washington Trust Bancorp in the 4th quarter worth approximately $676,000. Finally, Franklin Resources Inc. acquired a new stake in Washington Trust Bancorp in the fourth quarter valued at approximately $6,824,000. Hedge funds and other institutional investors own 65.81% of the company’s stock.

Several research firms have weighed in on WASH. Keefe, Bruyette & Woods dropped their price target on Washington Trust Bancorp from $34.00 to $31.00 and set a “market perform” rating for the company in a research report on Tuesday, April 22nd. Seaport Res Ptn raised shares of Washington Trust Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 14th. Finally, StockNews.com raised shares of Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, January 31st.

Check Out Our Latest Stock Report on Washington Trust Bancorp

Washington Trust Bancorp stock opened at $28.62 on Friday. The stock has a fifty day moving average price of $29.08 and a 200 day moving average price of $32.29. Washington Trust Bancorp has a 52 week low of $24.70 and a 52 week high of $40.59. The firm has a market capitalization of $551.68 million, a P/E ratio of -18.46 and a beta of 0.89. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 2.63.

Washington Trust Bancorp (NASDAQ:WASH – Get Free Report) last posted its quarterly earnings data on Monday, April 21st. The financial services provider reported $0.61 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $53.16 million. Equities research analysts anticipate that Washington Trust Bancorp will post 2.76 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 7.83%. The ex-dividend date of this dividend was Tuesday, April 1st. Washington Trust Bancorp’s dividend payout ratio (DPR) is currently -143.59%.

(Get 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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