Trexquant Investment LP Acquires New Stake in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Trexquant Investment LP acquired a new stake in Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 82,851 shares of the financial services provider's stock, valued at approximately $2,597,000. Trexquant Investment LP owned about 0.43% of Washington Trust Bancorp as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in WASH. Kestra Private Wealth Services LLC boosted its holdings in Washington Trust Bancorp by 1.5% in 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 acquiring an additional 544 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Washington Trust Bancorp by 5.9% during the fourth quarter. SG Americas Securities LLC now owns 12,229 shares of the financial services provider's stock worth $383,000 after buying an additional 682 shares during the last quarter. Essex Financial Services Inc. lifted its holdings in Washington Trust Bancorp by 10.9% in the fourth quarter. Essex Financial Services Inc. now owns 7,366 shares of the financial services provider's stock valued at $231,000 after buying an additional 726 shares during the period. LPL Financial LLC boosted its stake in Washington Trust Bancorp by 4.2% in the fourth quarter. LPL Financial LLC now owns 18,293 shares of the financial services provider's stock valued at $573,000 after acquiring an additional 738 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Washington Trust Bancorp during the 3rd quarter worth $32,000. 65.81% of the stock is owned by institutional investors and hedge funds.

Washington Trust Bancorp Trading Down 0.3 %

NASDAQ:WASH traded down $0.08 during trading hours on Friday, hitting $26.12. The stock had a trading volume of 234,649 shares, compared to its average volume of 141,152. The business's 50 day moving average is $30.64 and its 200-day moving average is $32.72. The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market cap of $503.49 million, a price-to-earnings ratio of -16.85 and a beta of 0.76. Washington Trust Bancorp, Inc. has a one year low of $24.11 and a one year high of $40.59.

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%. Sell-side analysts anticipate that Washington Trust Bancorp, Inc. will post 2.76 EPS for the current fiscal year.

Washington Trust Bancorp Announces Dividend

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 was Tuesday, April 1st. This represents a $2.24 annualized dividend and a dividend yield of 8.58%. Washington Trust Bancorp's dividend payout ratio is presently -144.52%.

Analyst Ratings Changes

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

About Washington Trust Bancorp

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.