Arrowstreet Capital Limited Partnership Purchases Shares of 11,779 Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Arrowstreet Capital Limited Partnership purchased a new position in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,779 shares of the financial services provider's stock, valued at approximately $369,000. Arrowstreet Capital Limited Partnership owned approximately 0.06% of Washington Trust Bancorp as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in WASH. Wilmington Savings Fund Society FSB acquired a new stake in shares of Washington Trust Bancorp in the 3rd quarter valued at approximately $32,000. Hantz Financial Services Inc. lifted its holdings in Washington Trust Bancorp by 15,152.6% in the fourth quarter. Hantz Financial Services Inc. now owns 2,898 shares of the financial services provider's stock valued at $91,000 after acquiring an additional 2,879 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of Washington Trust Bancorp during the 4th quarter worth $97,000. The Manufacturers Life Insurance Company acquired a new position in shares of Washington Trust Bancorp during the 3rd quarter worth $209,000. Finally, Essex Financial Services Inc. increased its holdings in shares of Washington Trust Bancorp by 10.9% in 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 in the last quarter. Institutional investors and hedge funds own 65.81% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on WASH shares. Seaport Res Ptn raised shares of Washington Trust Bancorp from a "hold" rating to a "strong-buy" rating in a report on Friday, March 14th. StockNews.com raised Washington Trust Bancorp from a "sell" rating to a "hold" rating in a report on Friday, January 31st.

Washington Trust Bancorp Price Performance

Shares of NASDAQ WASH traded up $0.08 on Friday, hitting $27.21. The company's stock had a trading volume of 154,537 shares, compared to its average volume of 142,298. The company has a debt-to-equity ratio of 2.63, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a 50 day moving average of $29.99 and a 200-day moving average of $32.56. Washington Trust Bancorp, Inc. has a 12-month low of $24.44 and a 12-month high of $40.59. The company has a market capitalization of $524.50 million, a price-to-earnings ratio of -17.55 and a beta of 0.76.

Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last announced its 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 positive return on equity of 8.99% and a negative net margin of 6.90%. As a group, research analysts predict that Washington Trust Bancorp, Inc. will post 2.76 EPS for the current year.

Washington Trust Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 8.23%. The ex-dividend date of this dividend was Tuesday, April 1st. Washington Trust Bancorp's payout ratio is -144.52%.

Washington Trust Bancorp Company 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.