Public Employees Retirement Association of Colorado Sells 2,145 Shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Public Employees Retirement Association of Colorado cut its holdings in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 23.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,853 shares of the financial services provider’s stock after selling 2,145 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Washington Trust Bancorp were worth $188,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of WASH. Dimensional Fund Advisors LP lifted its holdings in Washington Trust Bancorp by 9.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 774,705 shares of the financial services provider’s stock worth $25,086,000 after buying an additional 68,930 shares in the last quarter. Napatree Capital LLC acquired a new position in Washington Trust Bancorp during the 4th quarter worth $1,813,000. Inspire Advisors LLC acquired a new position in Washington Trust Bancorp during the 2nd quarter worth $1,529,000. American Century Companies Inc. lifted its holdings in Washington Trust Bancorp by 16.5% during the 2nd quarter. American Century Companies Inc. now owns 282,925 shares of the financial services provider’s stock worth $7,755,000 after buying an additional 40,122 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Washington Trust Bancorp by 56.6% during the 2nd quarter. Renaissance Technologies LLC now owns 108,668 shares of the financial services provider’s stock worth $2,979,000 after buying an additional 39,268 shares in the last quarter. Institutional investors and hedge funds own 65.81% of the company’s stock.

Washington Trust Bancorp Stock Performance

WASH stock opened at $31.72 on Monday. The business’s fifty day moving average is $31.21 and its 200-day moving average is $28.04. The company has a quick ratio of 1.14, a current ratio of 1.15 and a debt-to-equity ratio of 3.34. The company has a market cap of $540.95 million, a P/E ratio of 11.70 and a beta of 0.79. Washington Trust Bancorp, Inc. has a twelve month low of $21.69 and a twelve month high of $34.27.

Washington Trust Bancorp (NASDAQ:WASH) last posted its quarterly earnings results on Monday, July 22nd. The financial services provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.14. The company had revenue of $102.66 million for the quarter, compared to the consensus estimate 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 in the prior year, the business posted $0.66 EPS. Equities 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. Stockholders of record on Tuesday, October 1st will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 7.06%. The ex-dividend date is Tuesday, October 1st. Washington Trust Bancorp’s dividend payout ratio (DPR) is currently 82.66%.

Analysts Set New Price Targets

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

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.