American Century Companies Inc. Has $7.76 Million Stake in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

American Century Companies Inc. raised its position in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 16.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 282,925 shares of the financial services provider’s stock after purchasing an additional 40,122 shares during the quarter. American Century Companies Inc.’s holdings in Washington Trust Bancorp were worth $7,755,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of WASH. Charles Schwab Investment Management Inc. raised its position in Washington Trust Bancorp by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 235,586 shares of the financial services provider’s stock valued at $7,628,000 after buying an additional 16,378 shares during the period. Dimensional Fund Advisors LP grew its stake in Washington Trust Bancorp by 9.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 774,705 shares of the financial services provider’s stock valued at $25,086,000 after acquiring an additional 68,930 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Washington Trust Bancorp in the 4th quarter valued at about $186,000. EP Wealth Advisors LLC purchased a new stake in shares of Washington Trust Bancorp in the fourth quarter worth approximately $259,000. Finally, Napatree Capital LLC acquired a new stake in shares of Washington Trust Bancorp during the fourth quarter worth approximately $1,813,000. Hedge funds and other institutional investors own 65.81% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Washington Trust Bancorp Price Performance

Shares of NASDAQ:WASH opened at $32.63 on Tuesday. The firm has a market cap of $556.47 million, a price-to-earnings ratio of 12.04 and a beta of 0.79. Washington Trust Bancorp, Inc. has a 1 year low of $21.69 and a 1 year high of $34.27. 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 business has a fifty day simple moving average of $31.18 and a 200 day simple moving average of $27.88.

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

Washington Trust Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 6.86%. The ex-dividend date is Tuesday, October 1st. Washington Trust Bancorp’s dividend payout ratio (DPR) is presently 82.66%.

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.