Barclays PLC Acquires 16,511 Shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Barclays PLC increased its stake in Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) by 44.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,315 shares of the financial services provider's stock after acquiring an additional 16,511 shares during the quarter. Barclays PLC owned about 0.31% of Washington Trust Bancorp worth $1,717,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in WASH. Dimensional Fund Advisors LP raised its holdings in Washington Trust Bancorp by 7.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 826,057 shares of the financial services provider's stock worth $22,642,000 after purchasing an additional 59,115 shares during the last quarter. Inspire Advisors LLC bought a new position in Washington Trust Bancorp during the second quarter worth $1,529,000. American Century Companies Inc. lifted its holdings in Washington Trust Bancorp by 16.5% in the second quarter. American Century Companies Inc. now owns 282,925 shares of the financial services provider's stock valued at $7,755,000 after buying an additional 40,122 shares during the period. Renaissance Technologies LLC boosted its position in Washington Trust Bancorp by 56.6% during the second quarter. Renaissance Technologies LLC now owns 108,668 shares of the financial services provider's stock valued at $2,979,000 after acquiring an additional 39,268 shares during the last quarter. Finally, Zacks Investment Management acquired a new stake in Washington Trust Bancorp during the 3rd quarter worth about $1,258,000. 65.81% of the stock is currently owned by institutional investors.

Washington Trust Bancorp Stock Down 2.2 %

Shares of NASDAQ WASH traded down $0.68 during trading on Friday, hitting $30.76. 149,939 shares of the company traded hands, compared to its average volume of 110,010. The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.10 and a current ratio of 1.10. The business's fifty day moving average is $35.62 and its 200 day moving average is $31.97. The firm has a market capitalization of $592.35 million, a price-to-earnings ratio of 11.52 and a beta of 0.79. Washington Trust Bancorp, Inc. has a fifty-two week low of $24.11 and a fifty-two week high of $40.59.

Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last posted its quarterly earnings results on Monday, October 21st. The financial services provider reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.08. Washington Trust Bancorp had a return on equity of 9.55% and a net margin of 11.24%. The business had revenue of $103.86 million for the quarter, compared to the consensus estimate of $47.32 million. During the same period in the prior year, the business earned $0.65 EPS. Equities research analysts predict that Washington Trust Bancorp, Inc. will post 2.49 earnings per share for the current fiscal year.

Washington Trust Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 7.28%. The ex-dividend date of this dividend is Thursday, January 2nd. Washington Trust Bancorp's payout ratio is currently 83.90%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on WASH shares. Piper Sandler upgraded Washington Trust Bancorp from an "underweight" rating to a "neutral" rating and upped their target price for the company from $30.00 to $34.00 in a research report on Tuesday, October 22nd. StockNews.com lowered Washington Trust Bancorp from a "hold" rating to a "sell" rating in a research note on Thursday.

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.