Proficio Capital Partners LLC Invests $1.96 Million in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Proficio Capital Partners LLC acquired a new stake in Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 62,355 shares of the financial services provider's stock, valued at approximately $1,955,000. Proficio Capital Partners LLC owned approximately 0.32% of Washington Trust Bancorp as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in WASH. Wilmington Savings Fund Society FSB purchased a new position in shares of Washington Trust Bancorp in the 3rd quarter valued at about $32,000. Hantz Financial Services Inc. raised its holdings in 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 acquiring an additional 2,879 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in Washington Trust Bancorp in the third quarter worth approximately $209,000. Essex Financial Services Inc. grew 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 acquiring an additional 726 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Washington Trust Bancorp in the 3rd quarter valued at approximately $347,000. 65.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Washington Trust Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, January 31st.

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Washington Trust Bancorp Stock Down 2.9 %

Shares of NASDAQ WASH traded down $0.87 during midday trading on Monday, hitting $29.22. 154,456 shares of the company's stock were exchanged, compared to its average volume of 178,721. The firm's fifty day simple moving average is $31.92 and its 200-day simple moving average is $33.24. 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 company has a market cap of $563.24 million, a PE ratio of -18.85 and a beta of 0.80. Washington Trust Bancorp, Inc. has a twelve month low of $24.11 and a twelve month high of $40.59.

Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. Washington Trust Bancorp had a positive return on equity of 8.99% and a negative net margin of 6.90%. Research analysts predict that Washington Trust Bancorp, Inc. will post 2.76 EPS for the current fiscal year.

Washington Trust Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.56 per share. The ex-dividend date was Thursday, January 2nd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 7.67%. Washington Trust Bancorp's dividend payout ratio (DPR) is presently -144.52%.

Washington Trust Bancorp 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.