Fmr LLC Has $43.22 Million Stock Position in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

FMR LLC lowered its stake in Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) by 1.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,341,652 shares of the financial services provider's stock after selling 19,416 shares during the period. FMR LLC owned approximately 7.86% of Washington Trust Bancorp worth $43,215,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. SG Americas Securities LLC acquired a new position in Washington Trust Bancorp in the 2nd quarter valued at about $232,000. Aptus Capital Advisors LLC grew its stake in Washington Trust Bancorp by 15.6% in the 3rd quarter. Aptus Capital Advisors LLC now owns 103,832 shares of the financial services provider's stock valued at $3,344,000 after buying an additional 14,028 shares during the last quarter. Inspire Advisors LLC bought a new stake in Washington Trust Bancorp in the 2nd quarter valued at about $1,529,000. Renaissance Technologies LLC boosted its holdings in Washington Trust Bancorp by 56.6% in the 2nd quarter. Renaissance Technologies LLC now owns 108,668 shares of the financial services provider's stock valued at $2,979,000 after purchasing an additional 39,268 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Washington Trust Bancorp by 1.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 149,354 shares of the financial services provider's stock valued at $4,094,000 after purchasing an additional 1,996 shares during the period. Institutional investors and hedge funds own 65.81% of the company's stock.

Analyst Ratings Changes

Separately, Piper Sandler raised shares of Washington Trust Bancorp from an "underweight" rating to a "neutral" rating and boosted their price objective for the company from $30.00 to $34.00 in a report on Tuesday, October 22nd.

Washington Trust Bancorp Stock Performance

NASDAQ WASH remained flat at $36.42 during trading on Friday. 107,583 shares of the company's stock were exchanged, compared to its average volume of 107,159. 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 market cap of $621.51 million, a price-to-earnings ratio of 13.64 and a beta of 0.79. Washington Trust Bancorp, Inc. has a 52-week low of $24.11 and a 52-week high of $40.59. The company has a 50 day moving average of $35.17 and a 200 day moving average of $31.24.

Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last issued 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 net margin of 11.24% and a return on equity of 9.55%. The company had revenue of $103.86 million during the quarter, compared to the consensus estimate of $47.32 million. During the same quarter in the prior year, the firm posted $0.65 EPS. On average, equities analysts forecast that Washington Trust Bancorp, Inc. will post 2.49 EPS for the current fiscal year.

Washington Trust Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 6.15%. The ex-dividend date was Tuesday, October 1st. Washington Trust Bancorp's dividend payout ratio is 83.90%.

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.