Washington Trust Bancorp, Inc. (NASDAQ:WASH) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its stake in Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 1.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 149,354 shares of the financial services provider’s stock after acquiring an additional 1,996 shares during the quarter. Bank of New York Mellon Corp’s holdings in Washington Trust Bancorp were worth $4,094,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of WASH. EntryPoint Capital LLC grew its holdings in shares of Washington Trust Bancorp by 86.3% in the first quarter. EntryPoint Capital LLC now owns 1,585 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 734 shares during the period. CWM LLC increased its holdings in shares of Washington Trust Bancorp by 29.9% during the 2nd quarter. CWM LLC now owns 3,146 shares of the financial services provider’s stock worth $86,000 after buying an additional 725 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Washington Trust Bancorp during the 4th quarter worth approximately $186,000. SG Americas Securities LLC purchased a new stake in shares of Washington Trust Bancorp during the 2nd quarter valued at approximately $232,000. Finally, BNP Paribas Financial Markets lifted its holdings in Washington Trust Bancorp by 139.1% in the first quarter. BNP Paribas Financial Markets now owns 9,560 shares of the financial services provider’s stock valued at $257,000 after acquiring an additional 5,562 shares during the last quarter. Hedge funds and other institutional investors own 65.81% of the company’s stock.

Washington Trust Bancorp Stock Up 2.9 %

Shares of WASH opened at $31.69 on Friday. The company has a current ratio of 1.15, a quick ratio of 1.14 and a debt-to-equity ratio of 3.34. The firm has a market cap of $540.63 million, a P/E ratio of 11.69 and a beta of 0.79. The company’s 50-day moving average price is $30.53 and its 200 day moving average price is $27.58. Washington Trust Bancorp, Inc. has a 12-month low of $21.69 and a 12-month high of $33.96.

Washington Trust Bancorp (NASDAQ:WASH) last released its quarterly earnings results on Monday, July 22nd. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.14. The business had revenue of $102.66 million for the quarter, compared to the consensus estimate of $46.06 million. Washington Trust Bancorp had a net margin of 11.51% and a return on equity of 9.95%. During the same period in the previous year, the firm earned $0.66 EPS. On average, sell-side analysts forecast that Washington Trust Bancorp, Inc. will post 2.38 earnings per share for the current year.

Washington Trust Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Monday, July 1st were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, July 1st. This represents a $2.24 annualized dividend and a dividend yield of 7.07%. Washington Trust Bancorp’s dividend payout ratio is currently 82.66%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, June 17th.

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.