Renaissance Technologies LLC Increases Stock Holdings in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Renaissance Technologies LLC lifted its stake in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) by 21.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,668 shares of the financial services provider's stock after purchasing an additional 19,400 shares during the quarter. Renaissance Technologies LLC owned about 0.56% of Washington Trust Bancorp worth $3,407,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Jane Street Group LLC increased its stake 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 buying an additional 17,906 shares during the period. Barclays PLC boosted its holdings in shares of Washington Trust Bancorp by 44.9% in the third 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. Wilmington Savings Fund Society FSB acquired a new position in shares of Washington Trust Bancorp during the third quarter worth about $32,000. JPMorgan Chase & Co. raised its holdings in Washington Trust Bancorp by 60.0% during the third 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. Finally, SG Americas Securities LLC lifted its position in 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 valued at $383,000 after purchasing an additional 682 shares during the period. 65.81% of the stock is owned by institutional investors and hedge funds.

Washington Trust Bancorp Trading Up 2.9 %

Shares of Washington Trust Bancorp stock opened at $27.00 on Wednesday. The company has a 50-day moving average of $29.76 and a two-hundred day moving average of $32.51. Washington Trust Bancorp, Inc. has a 12-month low of $24.70 and a 12-month high of $40.59. 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 stock has a market cap of $520.45 million, a PE ratio of -17.42 and a beta of 0.76.

Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last released its quarterly earnings data on Monday, April 21st. The financial services provider reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.01). The firm had revenue of $59.07 million during the quarter, compared to analysts' expectations of $53.16 million. Washington Trust Bancorp had a negative net margin of 6.90% and a positive return on equity of 8.99%. On average, research analysts anticipate that Washington Trust Bancorp, Inc. will post 2.76 EPS for the current fiscal year.

Washington Trust Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were given a $0.56 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.24 annualized dividend and a dividend yield of 8.30%. Washington Trust Bancorp's dividend payout ratio is presently -143.59%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Seaport Res Ptn upgraded Washington Trust Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 14th. Keefe, Bruyette & Woods dropped their price objective on Washington Trust Bancorp from $34.00 to $31.00 and set a "market perform" rating on the stock in a report on Tuesday. Finally, StockNews.com raised 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.

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