Jane Street Group LLC increased its position in Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) by 95.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,640 shares of the financial services provider's stock after purchasing an additional 17,906 shares during the period. Jane Street Group LLC owned approximately 0.21% of Washington Trust Bancorp worth $1,180,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Barrett & Company Inc. lifted its stake in shares of Washington Trust Bancorp by 20.1% in the third quarter. Barrett & Company Inc. now owns 4,694 shares of the financial services provider's stock worth $151,000 after buying an additional 787 shares in the last quarter. CWM LLC raised its holdings in Washington Trust Bancorp by 60.5% in the 3rd quarter. CWM LLC now owns 5,048 shares of the financial services provider's stock worth $163,000 after acquiring an additional 1,902 shares during the last quarter. Sanders Morris Harris LLC bought a new position in Washington Trust Bancorp in the 3rd quarter valued at approximately $206,000. The Manufacturers Life Insurance Company purchased a new stake in Washington Trust Bancorp during the 3rd quarter valued at $209,000. Finally, IFG Advisory LLC bought a new stake in shares of Washington Trust Bancorp in the 2nd quarter worth $211,000. 65.81% of the stock is owned by hedge funds and other institutional investors.
Washington Trust Bancorp Stock Performance
NASDAQ:WASH traded up $0.35 during trading hours on Monday, reaching $31.11. The company had a trading volume of 174,349 shares, compared to its average volume of 110,266. The firm has a market cap of $599.09 million, a price-to-earnings ratio of 11.65 and a beta of 0.79. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 2.63. The firm's 50 day moving average price is $35.62 and its 200-day moving average price is $32.06. Washington Trust Bancorp, Inc. has a 52 week low of $24.11 and a 52 week high of $40.59.
Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last posted its earnings results on Monday, October 21st. The financial services provider reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.56 by $0.08. The company had revenue of $103.86 million for the quarter, compared to the consensus estimate of $47.32 million. Washington Trust Bancorp had a return on equity of 9.55% and a net margin of 11.24%. During the same quarter in the prior year, the company earned $0.65 earnings per share. On average, analysts forecast that Washington Trust Bancorp, Inc. will post 2.49 EPS for the current year.
Washington Trust Bancorp Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a dividend of $0.56 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.24 annualized dividend and a yield of 7.20%. Washington Trust Bancorp's dividend payout ratio (DPR) is 83.90%.
Analyst Ratings Changes
WASH has been the topic of a number of research analyst reports. Piper Sandler raised Washington Trust Bancorp from an "underweight" rating to a "neutral" rating and upped their price target for the company from $30.00 to $34.00 in a report on Tuesday, October 22nd. StockNews.com cut shares of Washington Trust Bancorp from a "hold" rating to a "sell" rating in a research note on Thursday.
View Our Latest Analysis on Washington Trust Bancorp
About Washington Trust Bancorp
(
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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