ProShare Advisors LLC Trims Position in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

ProShare Advisors LLC decreased its stake in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 15.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 246,687 shares of the financial services provider’s stock after selling 44,774 shares during the period. ProShare Advisors LLC’s holdings in Washington Trust Bancorp were worth $6,762,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in shares of Washington Trust Bancorp by 9.8% in the fourth 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. Napatree Capital LLC purchased a new position in Washington Trust Bancorp during the 4th quarter valued at about $1,813,000. Inspire Advisors LLC bought a new stake in shares of Washington Trust Bancorp in the 2nd quarter valued at about $1,529,000. American Century Companies Inc. raised its holdings in shares of Washington Trust Bancorp by 16.5% in the 2nd quarter. American Century Companies Inc. now owns 282,925 shares of the financial services provider’s stock valued at $7,755,000 after purchasing an additional 40,122 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Washington Trust Bancorp by 56.6% in the 2nd quarter. Renaissance Technologies LLC now owns 108,668 shares of the financial services provider’s stock worth $2,979,000 after purchasing an additional 39,268 shares during the period. 65.81% of the stock is owned by hedge funds and other institutional investors.

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 Trading Down 2.4 %

WASH opened at $31.42 on Thursday. 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 firm has a market cap of $536.03 million, a price-to-earnings ratio of 11.59 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 stock has a fifty day moving average price of $31.18 and a 200-day moving average price of $27.95.

Washington Trust Bancorp (NASDAQ:WASH) last announced its earnings results on Monday, July 22nd. The financial services provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.14. The business had revenue of $102.66 million during the quarter, compared to the consensus estimate of $46.06 million. Washington Trust Bancorp had a net margin of 11.51% and a return on equity of 9.95%. During the same period in the previous year, the company posted $0.66 earnings per share. As a group, equities research analysts anticipate that Washington Trust Bancorp, Inc. will post 2.38 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, October 11th. Investors of record on Tuesday, October 1st will be paid a dividend of $0.56 per share. The ex-dividend date is Tuesday, October 1st. This represents a $2.24 annualized dividend and a dividend yield of 7.13%. Washington Trust Bancorp’s dividend payout ratio (DPR) is presently 82.66%.

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.