Bank of New York Mellon Corp Has $3.24 Million Position in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Bank of New York Mellon Corp lowered its stake in Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) by 23.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 103,315 shares of the financial services provider's stock after selling 31,747 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.54% of Washington Trust Bancorp worth $3,239,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Zacks Investment Management acquired a new stake in shares of Washington Trust Bancorp in the third quarter valued at about $1,258,000. Barclays PLC increased its position in Washington Trust Bancorp by 44.9% during the third quarter. Barclays PLC now owns 53,315 shares of the financial services provider's stock worth $1,717,000 after buying an additional 16,511 shares during the last quarter. Jane Street Group LLC increased its position in Washington Trust Bancorp by 95.6% during the third quarter. Jane Street Group LLC now owns 36,640 shares of the financial services provider's stock worth $1,180,000 after buying an additional 17,906 shares during the last quarter. JPMorgan Chase & Co. increased 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 worth $2,150,000 after buying an additional 25,029 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in Washington Trust Bancorp during the third quarter worth approximately $209,000. Institutional investors and hedge funds own 65.81% of the company's stock.

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Wall Street Analysts Forecast Growth

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

Washington Trust Bancorp Stock Performance

Shares of Washington Trust Bancorp stock traded down $0.24 on Friday, hitting $31.30. The stock had a trading volume of 952,146 shares, compared to its average volume of 130,413. Washington Trust Bancorp, Inc. has a twelve month low of $24.11 and a twelve month high of $40.59. The business's 50 day moving average is $31.87 and its two-hundred day moving average is $33.11. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 2.63. The stock has a market cap of $603.34 million, a price-to-earnings ratio of -20.19 and a beta of 0.80.

Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $0.59 EPS for the quarter, beating the consensus estimate 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%. Analysts forecast that Washington Trust Bancorp, Inc. will post 2.76 EPS for the current year.

Washington Trust Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be issued a $0.56 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.24 dividend on an annualized basis and a yield of 7.16%. Washington Trust Bancorp's payout ratio is -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.