Washington Trust Bancorp, Inc. (NASDAQ:WASH) Short Interest Update

Washington Trust Bancorp, Inc. (NASDAQ:WASH - Get Free Report) was the target of a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 388,600 shares, a decrease of 13.4% from the February 28th total of 448,500 shares. Based on an average daily trading volume, of 200,500 shares, the days-to-cover ratio is presently 1.9 days. Approximately 2.1% of the company's stock are short sold.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. StockNews.com upgraded Washington Trust Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, January 31st. Seaport Res Ptn upgraded shares of Washington Trust Bancorp from a "hold" rating to a "strong-buy" rating in a report on Friday, March 14th.

Washington Trust Bancorp Stock Down 4.7 %

NASDAQ WASH traded down $1.29 during midday trading on Friday, hitting $26.43. 368,130 shares of the company traded hands, compared to its average volume of 137,392. Washington Trust Bancorp has a 52 week low of $24.11 and a 52 week high of $40.59. The company's 50-day simple moving average is $31.49 and its 200-day simple moving average is $33.02. The company has a market cap of $509.46 million, a PE ratio of -17.05 and a beta of 0.80. 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 (NASDAQ:WASH - Get Free Report) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $0.59 earnings per share (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%. As a group, equities research analysts forecast that Washington Trust Bancorp will post 2.76 earnings per share for the current year.

Washington Trust Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.24 annualized dividend and a dividend yield of 8.48%. Washington Trust Bancorp's dividend payout ratio (DPR) is presently -144.52%.

Institutional Investors Weigh In On Washington Trust Bancorp

Institutional investors have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Washington Trust Bancorp during the third quarter worth $32,000. Hantz Financial Services Inc. grew its holdings in shares of Washington Trust Bancorp by 15,152.6% during the fourth quarter. Hantz Financial Services Inc. now owns 2,898 shares of the financial services provider's stock valued at $91,000 after buying an additional 2,879 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Washington Trust Bancorp in the 4th quarter valued at $97,000. State of Tennessee Department of Treasury purchased a new position in Washington Trust Bancorp in the 4th quarter worth $131,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Washington Trust Bancorp during the 3rd quarter worth about $209,000. 65.81% of the stock is currently owned by institutional investors and hedge funds.

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.