Washington Trust Bancorp, Inc. (NASDAQ:WASH) Shares Purchased by Prudential Financial Inc.

Prudential Financial Inc. lifted its position in Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) by 1,154.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,729 shares of the financial services provider's stock after acquiring an additional 79,815 shares during the period. Prudential Financial Inc. owned 0.45% of Washington Trust Bancorp worth $2,719,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in WASH. Zacks Investment Management acquired a new stake in Washington Trust Bancorp during the 3rd quarter worth $1,258,000. Proficio Capital Partners LLC acquired a new position in Washington Trust Bancorp during the fourth quarter worth about $1,955,000. Barclays PLC grew its stake in Washington Trust Bancorp by 44.9% during the 3rd quarter. Barclays PLC now owns 53,315 shares of the financial services provider's stock valued at $1,717,000 after acquiring an additional 16,511 shares in the last quarter. Jane Street Group LLC raised its holdings in Washington Trust Bancorp by 95.6% in the 3rd quarter. Jane Street Group LLC now owns 36,640 shares of the financial services provider's stock valued at $1,180,000 after acquiring an additional 17,906 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Washington Trust Bancorp by 60.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 66,737 shares of the financial services provider's stock worth $2,150,000 after purchasing an additional 25,029 shares in the last quarter. 65.81% of the stock is currently owned by hedge funds and other institutional investors.

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Washington Trust Bancorp Trading Up 0.5 %

NASDAQ:WASH traded up $0.12 on Tuesday, hitting $26.20. The stock had a trading volume of 259,919 shares, compared to its average volume of 139,092. The company has a fifty day moving average price of $31.11 and a two-hundred day moving average price of $32.87. Washington Trust Bancorp, Inc. has a 1-year low of $24.11 and a 1-year high of $40.59. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 2.63. The stock has a market cap of $505.03 million, a price-to-earnings ratio of -16.90 and a beta of 0.76.

Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.59 earnings per share for the quarter, topping 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%. Equities research analysts expect that Washington Trust Bancorp, Inc. will post 2.76 earnings per share for the current fiscal year.

Washington Trust Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 8.55%. The ex-dividend date is Tuesday, April 1st. Washington Trust Bancorp's payout ratio is -144.52%.

Analyst Ratings Changes

WASH has been the subject of a number of analyst reports. 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 upgraded Washington Trust Bancorp from a "hold" rating to a "strong-buy" rating in a report on Friday, March 14th.

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.