Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) by 170.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,126 shares of the financial services provider's stock after purchasing an additional 18,339 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.15% of Washington Trust Bancorp worth $913,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wilmington Savings Fund Society FSB bought a new stake in shares of Washington Trust Bancorp during the 3rd quarter worth about $32,000. Hantz Financial Services Inc. grew its position in shares of 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 purchasing an additional 2,879 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Washington Trust Bancorp during the third quarter worth approximately $209,000. Essex Financial Services Inc. lifted its holdings in 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 worth $231,000 after purchasing an additional 726 shares during the last quarter. Finally, AlphaQuest LLC acquired a new stake in Washington Trust Bancorp during the 4th quarter worth approximately $345,000. 65.81% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms have weighed in 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 research report on Friday, March 14th.
View Our Latest Report on Washington Trust Bancorp
Washington Trust Bancorp Price Performance
WASH traded up $0.65 on Monday, hitting $31.95. 135,736 shares of the stock were exchanged, compared to its average volume of 130,434. The firm has a market capitalization of $615.87 million, a price-to-earnings ratio of -20.61 and a beta of 0.80. The company has a debt-to-equity ratio of 2.63, a current ratio of 1.10 and a quick ratio of 1.10. Washington Trust Bancorp, Inc. has a 12 month low of $24.11 and a 12 month high of $40.59. The business has a 50-day moving average of $31.87 and a two-hundred day moving average of $33.12.
Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate 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 forecast that Washington Trust Bancorp, Inc. will post 2.76 EPS for the current fiscal year.
Washington Trust Bancorp Announces Dividend
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 dividend of $0.56 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 7.01%. Washington Trust Bancorp's dividend payout ratio (DPR) is currently -144.52%.
Washington Trust Bancorp Company Profile
(
Free Report)
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.
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