Dimensional Fund Advisors LP Increases Stock Position in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Dimensional Fund Advisors LP grew its position in Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 7.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 826,057 shares of the financial services provider’s stock after buying an additional 59,115 shares during the period. Dimensional Fund Advisors LP owned 4.84% of Washington Trust Bancorp worth $22,642,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Inspire Advisors LLC acquired a new position in shares of Washington Trust Bancorp in the second quarter valued at about $1,529,000. American Century Companies Inc. raised its position in Washington Trust Bancorp by 16.5% during the second quarter. American Century Companies Inc. now owns 282,925 shares of the financial services provider’s stock valued at $7,755,000 after acquiring an additional 40,122 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Washington Trust Bancorp by 5.9% in the second quarter. Victory Capital Management Inc. now owns 20,100 shares of the financial services provider’s stock valued at $551,000 after acquiring an additional 1,118 shares during the period. Rhumbline Advisers lifted its holdings in Washington Trust Bancorp by 2.2% in the second quarter. Rhumbline Advisers now owns 28,205 shares of the financial services provider’s stock valued at $773,000 after acquiring an additional 618 shares during the period. Finally, Aptus Capital Advisors LLC boosted its position in Washington Trust Bancorp by 24.8% in the 2nd quarter. Aptus Capital Advisors LLC now owns 89,804 shares of the financial services provider’s stock worth $2,462,000 after purchasing an additional 17,850 shares in the last quarter. Hedge funds and other institutional investors own 65.81% of the company’s stock.

Washington Trust Bancorp Trading Up 0.5 %

Shares of Washington Trust Bancorp stock opened at $30.56 on Friday. The firm has a 50-day simple moving average of $31.17 and a two-hundred day simple moving average of $28.15. The company has a debt-to-equity ratio of 3.34, a quick ratio of 1.14 and a current ratio of 1.15. Washington Trust Bancorp, Inc. has a fifty-two week low of $21.69 and a fifty-two week high of $34.27. The company has a market cap of $521.17 million, a P/E ratio of 11.29 and a beta of 0.79.

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 for the quarter, topping analysts’ consensus estimates of $0.49 by $0.14. Washington Trust Bancorp had a return on equity of 9.95% and a net margin of 11.51%. The company had revenue of $102.66 million during the quarter, compared to analysts’ expectations of $46.06 million. During the same quarter in the prior year, the firm posted $0.66 EPS. As a group, equities 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. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.56 per share. The ex-dividend date is Tuesday, October 1st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 7.33%. Washington Trust Bancorp’s dividend payout ratio (DPR) is 82.66%.

Analyst Ratings Changes

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

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.