Washington Trust Bancorp, Inc. (NASDAQ:WASH) Shares Bought by Two Sigma Investments LP
Two Sigma Investments LP boosted its holdings in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) by 36.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 90,380 shares of the financial services provider's stock after acquiring an additional 24,132 shares during the quarter. Two Sigma Investments LP owned about 0.47% of Washington Trust Bancorp worth $2,833,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. increased 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 acquiring an additional 2,879 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Washington Trust Bancorp during the fourth quarter worth $97,000. State of Tennessee Department of Treasury purchased a new position in shares of Washington Trust Bancorp during the fourth quarter worth $131,000. Aquatic Capital Management LLC purchased a new position in shares of Washington Trust Bancorp during the fourth quarter worth $229,000. Finally, Essex Financial Services Inc. boosted its position in shares of 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. Institutional investors and hedge funds own 65.81% of the company's stock.
Shares of WASH stock opened at $27.83 on Friday. The stock has a market capitalization of $536.87 million, a PE ratio of -17.95 and a beta of 0.89. Washington Trust Bancorp, Inc. has a 52-week low of $24.70 and a 52-week high of $40.59. The stock's 50-day moving average price is $28.16 and its 200 day moving average price is $31.34. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 2.63.
Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last released its earnings results 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 positive return on equity of 8.99% and a negative net margin of 6.90%. The business had revenue of $59.07 million for the quarter, compared to analyst estimates of $53.16 million. As a group, equities research analysts forecast that Washington Trust Bancorp, Inc. will post 2.76 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 8.05%. The ex-dividend date was Tuesday, April 1st. Washington Trust Bancorp's payout ratio is -143.59%.
Several research analysts have recently commented on WASH shares. Keefe, Bruyette & Woods lowered 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 upgraded Washington Trust Bancorp from a "hold" rating to a "strong-buy" rating in a report on Friday, March 14th. Wall Street Zen upgraded Washington Trust Bancorp from a "sell" rating to a "hold" rating in a report on Friday, January 31st. Finally, Bank of America began coverage on Washington Trust Bancorp in a report on Wednesday. They issued a "neutral" rating and a $28.00 target price for the company. Four research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $31.00.
Check Out Our Latest Stock Report on Washington Trust Bancorp
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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