ProShare Advisors LLC increased its stake in Washington Trust Bancorp, Inc. (NASDAQ: WASH – Get a rating) by 8.4% in the first quarter, according to its most recent Form 13F filed with the Securities & Exchange Commission. The company held 194,575 shares of the financial services provider after acquiring an additional 15,099 shares during the quarter. ProShare Advisors LLC owned approximately 1.12% of Washington Trust Bancorp worth $10,215,000 when it last filed with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently increased or reduced their stakes in the company. Lazard Asset Management LLC increased its stake in Washington Trust Bancorp by 335.5% in the fourth quarter. Lazard Asset Management LLC now owns 858 shares of the financial services provider worth $48,000 after acquiring an additional 661 shares during the period. GSA Capital Partners LLP bought a new stake in Washington Trust Bancorp in the fourth quarter at a value of $204,000. Bradley Foster & Sargent Inc. CT bought a new stake in Washington Trust Bancorp in the fourth quarter for $209,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Washington Trust Bancorp by 270.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,704 shares of the financial services provider worth $246,000 after acquiring 3,434 additional shares during the period. Finally, Mystic Asset Management Inc. bought a new position in Washington Trust Bancorp during the fourth quarter worth $260,000. Hedge funds and other institutional investors own 77.37% of the company’s shares.
Performance of Washington Trust Bancorp shares
Shares of Washington Trust Bancorp Stock opened at $54.86 on Monday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt ratio of 0.74. The company has a market capitalization of $942.00 million, a P/E ratio of 12.76 and a beta of 0.77. The company has a fifty-day simple moving average of $50.96 and a two-hundred-day simple moving average of $51.20. Washington Trust Bancorp, Inc. has a 12-month low of $45.60 and a 12-month high of $60.96.
Washington Trust Bancorp (NASDAQ: WASH – Get a rating) last released its quarterly results on Monday, July 25. The financial services provider reported earnings per share (EPS) of $1.14 for the quarter, beating the consensus estimate of $0.91 by $0.23. Washington Trust Bancorp had a return on equity of 14.28% and a net margin of 31.97%. During the same period last year, the company posted earnings per share of $1.00. On average, stock analysts expect Washington Trust Bancorp, Inc. to post earnings per share of 4.19 for the current fiscal year.
Washington Trust Bancorp Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, July 8. Shareholders of record on Friday, July 1 received a dividend of $0.54. This represents an annualized dividend of $2.16 and a dividend yield of 3.94%. The ex-dividend date was Thursday, June 30. Washington Trust Bancorp’s dividend payout ratio is currently 50.23%.
A Wall Street analyst gives his opinion
Several brokerages have commented on WASH. Compass Point raised its price target on Washington Trust Bancorp to $60.00 and gave the company an “outperform” rating in a Wednesday, July 27 research report. StockNews.com upgraded Washington Trust Bancorp from a “sell” rating to a “hold” rating in a Monday, July 18 research report.
Washington Trust Bancorp Company Profile
Washington Trust Bancorp, Inc. operates as a bank holding company for The Washington Trust Company, of Westerly, which provides various banking and financial services to individuals and businesses. The Company operates in two segments, commercial banking services and wealth management services. The Commercial Banking segment offers various commercial and retail lending products, such as commercial real estate loans, including commercial mortgages and construction loans; commercial and industrial loans; residential real estate loans which consist of homeowner mortgages and construction loans; and consumer loans including home equity loans and lines of credit, personal installment loans and personal loans secured by general aviation aircraft.
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