Connor Clark & Lunn Investment Management Ltd. Increases Stock Position in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Connor Clark & Lunn Investment Management Ltd. grew its stake in Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 170.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,126 shares of the financial services provider’s stock after purchasing an additional 18,339 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Washington Trust Bancorp were worth $913,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new position in Washington Trust Bancorp in the 3rd quarter worth $32,000. Hantz Financial Services Inc. raised its holdings in Washington Trust Bancorp by 15,152.6% in the 4th quarter. Hantz Financial Services Inc. now owns 2,898 shares of the financial services provider’s stock worth $91,000 after purchasing an additional 2,879 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in Washington Trust Bancorp in the 3rd quarter worth $209,000. Essex Financial Services Inc. raised its holdings in Washington Trust Bancorp by 10.9% in the 4th quarter. Essex Financial Services Inc. now owns 7,366 shares of the financial services provider’s stock worth $231,000 after purchasing an additional 726 shares in the last quarter. Finally, AlphaQuest LLC bought a new position in Washington Trust Bancorp in the 4th quarter worth $345,000. 65.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Washington Trust Bancorp Stock Down 0.5 %

Shares of Washington Trust Bancorp stock opened at $31.54 on Friday. The company has a debt-to-equity ratio of 2.63, a current ratio of 1.10 and a quick ratio of 1.10. The company has a 50-day moving average of $31.84 and a 200 day moving average of $33.12. The firm has a market cap of $607.97 million, a price-to-earnings ratio of -20.35 and a beta of 0.80. Washington Trust Bancorp, Inc. has a 1 year low of $24.11 and a 1 year high of $40.59.

Washington Trust Bancorp (NASDAQ:WASH) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. Washington Trust Bancorp had a negative net margin of 6.90% and a positive return on equity of 8.99%. As a group, sell-side analysts anticipate that Washington Trust Bancorp, Inc. will post 2.76 earnings per share for the current fiscal year.

Washington Trust Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 7.10%. Washington Trust Bancorp’s dividend payout ratio is currently -144.52%.

Washington Trust Bancorp 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.