Teacher Retirement System of Texas Invests $676,000 in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Teacher Retirement System of Texas acquired a new position in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,549 shares of the financial services provider's stock, valued at approximately $676,000. Teacher Retirement System of Texas owned 0.11% of Washington Trust Bancorp at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in shares of Washington Trust Bancorp in the fourth quarter worth $2,192,000. Proficio Capital Partners LLC bought a new position in shares of Washington Trust Bancorp in the 4th quarter valued at about $1,955,000. Zacks Investment Management acquired a new stake in shares of Washington Trust Bancorp in the third quarter valued at about $1,258,000. JPMorgan Chase & Co. boosted its position in Washington Trust Bancorp by 60.0% during the third quarter. JPMorgan Chase & Co. now owns 66,737 shares of the financial services provider's stock valued at $2,150,000 after purchasing an additional 25,029 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Washington Trust Bancorp by 170.0% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 29,126 shares of the financial services provider's stock valued at $913,000 after purchasing an additional 18,339 shares during the last quarter. Institutional investors own 65.81% of the company's stock.

Analysts Set New Price Targets

WASH has been the subject of several recent analyst reports. StockNews.com raised Washington Trust Bancorp from a "sell" rating to a "hold" rating in a report on Friday, January 31st. Seaport Res Ptn raised shares of Washington Trust Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 14th.

Remove Ads

Washington Trust Bancorp Stock Performance

NASDAQ:WASH traded down $0.44 on Tuesday, hitting $29.86. The company's stock had a trading volume of 215,712 shares, compared to its average volume of 134,403. Washington Trust Bancorp, Inc. has a one year low of $24.11 and a one year high of $40.59. The stock has a fifty day moving average of $31.81 and a two-hundred day moving average of $33.13. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 2.63. The firm has a market capitalization of $575.58 million, a P/E ratio of -19.26 and a beta of 0.80.

Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. Washington Trust Bancorp had a negative net margin of 6.90% and a positive return on equity of 8.99%. Research analysts predict that Washington Trust Bancorp, Inc. will post 2.76 earnings per share for the current year.

Washington Trust Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 7.50%. The ex-dividend date is Tuesday, April 1st. Washington Trust Bancorp's dividend payout ratio is presently -144.52%.

About 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.