Rhumbline Advisers Increases Stake in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Rhumbline Advisers increased its stake in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 2.2% in the second quarter, Holdings Channel.com reports. The fund owned 28,205 shares of the financial services provider’s stock after purchasing an additional 618 shares during the period. Rhumbline Advisers’ holdings in Washington Trust Bancorp were worth $773,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of WASH. Aptus Capital Advisors LLC boosted its holdings in shares of Washington Trust Bancorp by 24.8% during the 2nd quarter. Aptus Capital Advisors LLC now owns 89,804 shares of the financial services provider’s stock valued at $2,462,000 after purchasing an additional 17,850 shares during the last quarter. IFG Advisory LLC purchased a new position in shares of Washington Trust Bancorp during the second quarter valued at about $211,000. Bank of New York Mellon Corp grew its position in shares of Washington Trust Bancorp by 1.4% during the second quarter. Bank of New York Mellon Corp now owns 149,354 shares of the financial services provider’s stock valued at $4,094,000 after purchasing an additional 1,996 shares in the last quarter. Brown Lisle Cummings Inc. grew its position in shares of Washington Trust Bancorp by 31.6% during the second quarter. Brown Lisle Cummings Inc. now owns 24,019 shares of the financial services provider’s stock valued at $658,000 after purchasing an additional 5,774 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Washington Trust Bancorp during the second quarter valued at about $232,000. 65.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Washington Trust Bancorp Trading Down 0.5 %

WASH opened at $32.63 on Tuesday. The firm has a market cap of $556.47 million, a P/E ratio of 12.04 and a beta of 0.79. Washington Trust Bancorp, Inc. has a 12 month low of $21.69 and a 12 month 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 stock has a 50-day moving average of $31.18 and a 200 day moving average of $27.88.

Washington Trust Bancorp (NASDAQ:WASH) last released its quarterly earnings results on Monday, July 22nd. The financial services provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.49 by $0.14. The company had revenue of $102.66 million during the quarter, compared to analyst estimates 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 quarter last year, the business posted $0.66 earnings per share. As a group, research analysts forecast that Washington Trust Bancorp, Inc. will post 2.38 EPS for the current year.

Washington Trust Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be given a $0.56 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $2.24 annualized dividend and a yield of 6.86%. Washington Trust Bancorp’s dividend payout ratio is currently 82.66%.

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.