Charles Schwab Investment Management Inc. Sells 29,525 Shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Charles Schwab Investment Management Inc. lessened its holdings in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) by 14.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 171,506 shares of the financial services provider's stock after selling 29,525 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.89% of Washington Trust Bancorp worth $5,377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Victory Capital Management Inc. lifted its position in shares of Washington Trust Bancorp by 8.5% during the 3rd quarter. Victory Capital Management Inc. now owns 21,800 shares of the financial services provider's stock valued at $702,000 after buying an additional 1,700 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Washington Trust Bancorp during the third quarter valued at about $347,000. The Manufacturers Life Insurance Company purchased a new position in shares of Washington Trust Bancorp in the third quarter valued at about $209,000. BNP Paribas Financial Markets boosted its stake in shares of Washington Trust Bancorp by 56.1% in the third quarter. BNP Paribas Financial Markets now owns 13,715 shares of the financial services provider's stock worth $442,000 after acquiring an additional 4,927 shares during the period. Finally, Jane Street Group LLC grew its stake in shares of Washington Trust Bancorp by 95.6% in the 3rd 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 in the last quarter. Institutional investors own 65.81% of the company's stock.

Remove Ads

Washington Trust Bancorp Trading Down 2.1 %

NASDAQ WASH traded down $0.67 on Friday, hitting $30.80. 148,786 shares of the stock were exchanged, compared to its average volume of 133,824. The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.10 and a current ratio of 1.10. Washington Trust Bancorp, Inc. has a 52-week low of $24.11 and a 52-week high of $40.59. The firm has a market capitalization of $593.70 million, a P/E ratio of -19.87 and a beta of 0.80. The stock has a fifty day moving average price of $31.85 and a two-hundred day moving average price of $33.11.

Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.59 EPS for the quarter, topping 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%. Research analysts forecast that Washington Trust Bancorp, Inc. will post 2.76 EPS for the current fiscal year.

Washington Trust Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be issued a $0.56 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.24 annualized dividend and a dividend yield of 7.27%. Washington Trust Bancorp's payout ratio is -144.52%.

Analyst Ratings Changes

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

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.