JPMorgan Chase & Co. Raises Position in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

JPMorgan Chase & Co. boosted its stake in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) by 74.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 116,608 shares of the financial services provider's stock after acquiring an additional 49,871 shares during the quarter. JPMorgan Chase & Co. owned about 0.61% of Washington Trust Bancorp worth $3,656,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in WASH. Kestra Private Wealth Services LLC boosted its holdings in shares of Washington Trust Bancorp by 1.5% in the 4th quarter. Kestra Private Wealth Services LLC now owns 36,015 shares of the financial services provider's stock worth $1,129,000 after purchasing an additional 544 shares during the period. 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 worth $383,000 after buying an additional 682 shares during the last quarter. Essex Financial Services Inc. boosted its stake in 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 worth $231,000 after buying an additional 726 shares during the period. LPL Financial LLC boosted its stake in Washington Trust Bancorp by 4.2% during the fourth quarter. LPL Financial LLC now owns 18,293 shares of the financial services provider's stock worth $573,000 after buying an additional 738 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in Washington Trust Bancorp during the third quarter valued at $32,000. 65.81% of the stock is owned by institutional investors.

Washington Trust Bancorp Trading Up 1.6 %

Shares of NASDAQ:WASH traded up $0.43 on Thursday, hitting $28.02. 72,476 shares of the company's stock were exchanged, compared to its average volume of 143,586. The stock has a market capitalization of $540.11 million, a price-to-earnings ratio of -18.06 and a beta of 0.76. Washington Trust Bancorp, Inc. has a 12 month low of $24.70 and a 12 month high of $40.59. 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 business's 50 day simple moving average is $29.65 and its two-hundred day simple moving average is $32.48.

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

Washington Trust Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were paid a $0.56 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.24 annualized dividend and a yield of 7.99%. Washington Trust Bancorp's dividend payout ratio (DPR) is currently -143.59%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on WASH shares. Seaport Res Ptn raised shares of Washington Trust Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 14th. StockNews.com raised shares of Washington Trust Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods cut their target price on Washington Trust Bancorp from $34.00 to $31.00 and set a "market perform" rating on the stock in a research note on Tuesday.

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.