Vanguard Group Inc. Increases Stock Holdings in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Vanguard Group Inc. raised its position in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) by 10.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,033,333 shares of the financial services provider's stock after acquiring an additional 98,802 shares during the quarter. Vanguard Group Inc. owned approximately 5.37% of Washington Trust Bancorp worth $32,395,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Proficio Capital Partners LLC bought a new stake in shares of Washington Trust Bancorp during the fourth quarter valued at approximately $1,955,000. Barclays PLC grew its position in shares of Washington Trust Bancorp by 44.9% in the 3rd quarter. Barclays PLC now owns 53,315 shares of the financial services provider's stock worth $1,717,000 after buying an additional 16,511 shares during the period. Jane Street Group LLC increased its stake in shares of 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 worth $1,180,000 after acquiring an additional 17,906 shares in the last quarter. JPMorgan Chase & Co. boosted its stake 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 acquiring an additional 25,029 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in Washington Trust Bancorp in the fourth quarter worth about $676,000. Hedge funds and other institutional investors own 65.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Seaport Res Ptn raised Washington Trust Bancorp from a "hold" rating to a "strong-buy" rating in a research report 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.

Washington Trust Bancorp Stock Up 0.3 %

NASDAQ WASH traded up $0.08 during mid-day trading on Friday, reaching $27.21. The stock had a trading volume of 154,537 shares, compared to its average volume of 142,298. The company has a fifty day moving average price of $29.99 and a 200 day moving average price of $32.56. 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 1 year low of $24.44 and a 1 year high of $40.59. The stock has a market cap of $524.50 million, a PE ratio of -17.55 and a beta of 0.76.

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

Washington Trust Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.24 dividend on an annualized basis and a yield of 8.23%. Washington Trust Bancorp's dividend payout ratio (DPR) is -144.52%.

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.