Charles Schwab Investment Management Inc. Reduces Stock Holdings in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Charles Schwab Investment Management Inc. cut its holdings in Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 14.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 171,506 shares of the financial services provider’s stock after selling 29,525 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Washington Trust Bancorp were worth $5,377,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its holdings in shares of Washington Trust Bancorp by 60.0% during the third quarter. JPMorgan Chase & Co. now owns 66,737 shares of the financial services provider’s stock valued at $2,150,000 after buying an additional 25,029 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Washington Trust Bancorp during the 4th quarter worth about $1,955,000. Barclays PLC grew its stake in Washington Trust Bancorp by 44.9% during the 3rd quarter. Barclays PLC now owns 53,315 shares of the financial services provider’s stock valued at $1,717,000 after purchasing an additional 16,511 shares during the last quarter. Zacks Investment Management acquired a new position in shares of Washington Trust Bancorp in the third quarter valued at about $1,258,000. Finally, Jane Street Group LLC raised its stake in shares of Washington Trust Bancorp by 95.6% in the third quarter. Jane Street Group LLC now owns 36,640 shares of the financial services provider’s stock worth $1,180,000 after purchasing an additional 17,906 shares during the last quarter. Institutional investors and hedge funds own 65.81% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. StockNews.com upgraded Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Seaport Res Ptn raised shares of Washington Trust Bancorp from a “hold” rating to a “strong-buy” rating in a report on Friday, March 14th.

Washington Trust Bancorp Stock Performance

Shares of WASH stock opened at $31.76 on Wednesday. Washington Trust Bancorp, Inc. has a 52-week low of $24.11 and a 52-week high of $40.59. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 2.63. The stock has a market cap of $612.21 million, a PE ratio of -20.49 and a beta of 0.80. The business has a 50-day simple moving average of $31.92 and a 200-day simple moving average of $33.13.

Washington Trust Bancorp (NASDAQ:WASH) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Washington Trust Bancorp had a positive return on equity of 8.99% and a negative net margin of 6.90%. On average, equities analysts expect that Washington Trust Bancorp, Inc. will post 2.76 EPS for the current year.

Washington Trust Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 7.05%. The ex-dividend date is Tuesday, April 1st. Washington Trust Bancorp’s dividend payout ratio (DPR) is presently -144.52%.

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.