Hotchkis & Wiley Capital Management LLC Has $10.46 Million Stake in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Hotchkis & Wiley Capital Management LLC decreased its position in Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) by 7.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 324,870 shares of the financial services provider's stock after selling 25,400 shares during the period. Hotchkis & Wiley Capital Management LLC owned 1.90% of Washington Trust Bancorp worth $10,464,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its holdings in Washington Trust Bancorp by 56.1% during the 3rd 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. The Manufacturers Life Insurance Company bought a new position in shares of Washington Trust Bancorp in the 3rd quarter worth $209,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Washington Trust Bancorp during the third quarter worth $347,000. Victory Capital Management Inc. increased its holdings in Washington Trust Bancorp by 8.5% in the third quarter. Victory Capital Management Inc. now owns 21,800 shares of the financial services provider's stock valued at $702,000 after purchasing an additional 1,700 shares during the last quarter. Finally, Aptus Capital Advisors LLC lifted its stake in Washington Trust Bancorp by 15.6% in the third 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 period. 65.81% of the stock is currently owned by institutional investors and hedge funds.

Washington Trust Bancorp Trading Down 1.2 %

WASH traded down $0.45 during mid-day trading on Thursday, hitting $36.42. The stock had a trading volume of 88,759 shares, compared to its average volume of 96,448. Washington Trust Bancorp, Inc. has a 1-year low of $24.11 and a 1-year high of $40.59. The firm has a market capitalization of $621.69 million, a price-to-earnings ratio of 13.81 and a beta of 0.79. 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's fifty day simple moving average is $34.99 and its 200-day simple moving average is $31.11.

Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last issued its quarterly earnings data on Monday, October 21st. The financial services provider reported $0.64 EPS for the quarter, topping the consensus estimate 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 quarter last year, the business posted $0.65 EPS. As a group, research analysts forecast that Washington Trust Bancorp, Inc. will post 2.49 EPS for the current fiscal year.

Washington Trust Bancorp Dividend Announcement

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

Analysts Set New Price Targets

Separately, Piper Sandler upgraded Washington Trust Bancorp from an "underweight" rating to a "neutral" rating and boosted their target price for the stock from $30.00 to $34.00 in a research report on Tuesday, October 22nd.

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.