AlphaQuest LLC Takes $345,000 Position in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

AlphaQuest LLC acquired a new position in Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 10,999 shares of the financial services provider's stock, valued at approximately $345,000. AlphaQuest LLC owned 0.06% of Washington Trust Bancorp at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of WASH. Wilmington Savings Fund Society FSB purchased a new stake in Washington Trust Bancorp in the third quarter worth about $32,000. Hantz Financial Services Inc. lifted its holdings 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 valued at $91,000 after purchasing an additional 2,879 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Washington Trust Bancorp in the third quarter worth approximately $209,000. Essex Financial Services Inc. raised its position in shares of Washington Trust Bancorp by 10.9% during the 4th quarter. Essex Financial Services Inc. now owns 7,366 shares of the financial services provider's stock valued at $231,000 after purchasing an additional 726 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Washington Trust Bancorp in the 3rd quarter worth $347,000. Hedge funds and other institutional investors own 65.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WASH. StockNews.com upgraded Washington Trust Bancorp from a "sell" rating to a "hold" rating in a research 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 report on Friday.

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Washington Trust Bancorp Price Performance

WASH traded up $0.40 during trading hours on Tuesday, hitting $31.33. The company's stock had a trading volume of 124,072 shares, compared to its average volume of 126,599. Washington Trust Bancorp, Inc. has a 12 month low of $24.11 and a 12 month high of $40.59. 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 business's 50-day moving average price is $31.79 and its 200-day moving average price is $33.15. The stock has a market cap of $603.92 million, a price-to-earnings ratio of -20.21 and a beta of 0.80.

Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.59 EPS for the quarter, beating analysts' consensus estimates 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%. Sell-side analysts expect that Washington Trust Bancorp, Inc. will post 2.76 earnings per share for the current fiscal year.

Washington Trust Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 7.15%. The ex-dividend date was Thursday, January 2nd. Washington Trust Bancorp's payout ratio is currently -144.52%.

Washington Trust Bancorp 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.