Short Interest in Washington Trust Bancorp, Inc. (NASDAQ:WASH) Decreases By 13.4%

Washington Trust Bancorp, Inc. (NASDAQ:WASH - Get Free Report) was the recipient of a significant decline in short interest in March. As of March 15th, there was short interest totalling 388,600 shares, a decline of 13.4% from the February 28th total of 448,500 shares. Based on an average trading volume of 200,500 shares, the days-to-cover ratio is currently 1.9 days. Currently, 2.1% of the shares of the stock are short sold.

Washington Trust Bancorp Trading Down 4.7 %

Washington Trust Bancorp stock traded down $1.29 during mid-day trading on Friday, reaching $26.43. 368,123 shares of the company traded hands, compared to its average volume of 136,877. 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 has a 52-week low of $24.11 and a 52-week high of $40.59. The firm has a market capitalization of $509.46 million, a price-to-earnings ratio of -17.05 and a beta of 0.80. The firm's 50 day moving average price is $31.61 and its 200 day moving average price is $33.06.

Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates 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, analysts anticipate that Washington Trust Bancorp will post 2.76 earnings per share for the current fiscal year.

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Washington Trust Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be issued a $0.56 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.24 dividend on an annualized basis and a yield of 8.48%. Washington Trust Bancorp's dividend payout ratio is currently -144.52%.

Institutional Trading of Washington Trust Bancorp

Large investors have recently made changes to their positions in the business. Zacks Investment Management purchased a new stake in Washington Trust Bancorp in the 3rd quarter valued at about $1,258,000. Proficio Capital Partners LLC purchased a new stake in shares of Washington Trust Bancorp during the 4th quarter valued at $1,955,000. Barclays PLC boosted its holdings in Washington Trust Bancorp by 44.9% in the third quarter. Barclays PLC now owns 53,315 shares of the financial services provider's stock worth $1,717,000 after acquiring an additional 16,511 shares in the last quarter. Jane Street Group LLC boosted 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 worth $1,180,000 after purchasing an additional 17,906 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Washington Trust Bancorp by 60.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 66,737 shares of the financial services provider's stock valued at $2,150,000 after acquiring an additional 25,029 shares during the period. 65.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. StockNews.com raised shares of Washington Trust Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, January 31st. Seaport Res Ptn raised Washington Trust Bancorp from a "hold" rating to a "strong-buy" rating in a report on Friday, March 14th.

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.