Raymond James Financial Inc. Invests $2.19 Million in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Raymond James Financial Inc. bought 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 and Exchange Commission. The firm bought 69,911 shares of the financial services provider's stock, valued at approximately $2,192,000. Raymond James Financial Inc. owned 0.36% of Washington Trust Bancorp as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Kestra Private Wealth Services LLC raised its stake in Washington Trust Bancorp by 1.5% during the fourth quarter. Kestra Private Wealth Services LLC now owns 36,015 shares of the financial services provider's stock valued at $1,129,000 after buying an additional 544 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Washington Trust Bancorp by 5.9% in the fourth quarter. SG Americas Securities LLC now owns 12,229 shares of the financial services provider's stock worth $383,000 after acquiring an additional 682 shares during the last quarter. Essex Financial Services Inc. increased its holdings in shares of Washington Trust Bancorp by 10.9% during the fourth quarter. Essex Financial Services Inc. now owns 7,366 shares of the financial services provider's stock valued at $231,000 after acquiring an additional 726 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Washington Trust Bancorp in the 3rd quarter worth about $32,000. Finally, Brown Lisle Cummings Inc. raised its position in shares of Washington Trust Bancorp by 4.6% in the 4th quarter. Brown Lisle Cummings Inc. now owns 28,637 shares of the financial services provider's stock worth $898,000 after purchasing an additional 1,256 shares during the last quarter. 65.81% of the stock is currently owned by institutional investors.

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Washington Trust Bancorp Stock Performance

Washington Trust Bancorp stock traded down $0.44 during midday trading on Tuesday, reaching $29.86. 215,712 shares of the company traded hands, compared to its average volume of 134,403. The company has a debt-to-equity ratio of 2.63, a current ratio of 1.10 and a quick ratio of 1.10. Washington Trust Bancorp, Inc. has a 12 month low of $24.11 and a 12 month high of $40.59. The firm has a market capitalization of $575.58 million, a price-to-earnings ratio of -19.26 and a beta of 0.80. The business has a 50 day moving average of $31.81 and a two-hundred day moving average of $33.13.

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 EPS 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%. As a group, research analysts predict that Washington Trust Bancorp, Inc. will post 2.76 earnings per share for the current year.

Washington Trust Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 7.50%. The ex-dividend date of this dividend is Tuesday, April 1st. Washington Trust Bancorp's payout ratio is currently -144.52%.

Wall Street Analysts Forecast Growth

WASH has been the topic of a number of recent analyst reports. Seaport Res Ptn upgraded shares of Washington Trust Bancorp from a "hold" rating to a "strong-buy" rating in a report on Friday, March 14th. StockNews.com upgraded Washington Trust Bancorp from a "sell" rating to a "hold" rating in a report on Friday, January 31st.

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.