Renaissance Technologies LLC Acquires 39,268 Shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Renaissance Technologies LLC lifted its position in Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 56.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 108,668 shares of the financial services provider’s stock after acquiring an additional 39,268 shares during the quarter. Renaissance Technologies LLC’s holdings in Washington Trust Bancorp were worth $2,979,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in WASH. Dimensional Fund Advisors LP boosted its position in shares of Washington Trust Bancorp by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 826,057 shares of the financial services provider’s stock valued at $22,642,000 after buying an additional 59,115 shares during the period. Inspire Advisors LLC bought a new position in Washington Trust Bancorp in the second quarter worth approximately $1,529,000. American Century Companies Inc. lifted its holdings in Washington Trust Bancorp by 16.5% during the second 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 during the period. Victory Capital Management Inc. lifted its holdings in Washington Trust Bancorp by 5.9% during the second quarter. Victory Capital Management Inc. now owns 20,100 shares of the financial services provider’s stock worth $551,000 after buying an additional 1,118 shares during the period. Finally, Rhumbline Advisers lifted its holdings in Washington Trust Bancorp by 2.2% during the second quarter. Rhumbline Advisers now owns 28,205 shares of the financial services provider’s stock worth $773,000 after buying an additional 618 shares during the period. 65.81% of the stock is owned by institutional investors.

Washington Trust Bancorp Price Performance

Shares of WASH opened at $32.21 on Tuesday. The business’s 50-day moving average is $31.23 and its two-hundred day moving average is $28.09. The company has a market capitalization of $549.31 million, a P/E ratio of 11.89 and a beta of 0.79. The company has a debt-to-equity ratio of 3.34, a quick ratio of 1.14 and a current ratio of 1.15. Washington Trust Bancorp, Inc. has a fifty-two week low of $21.69 and a fifty-two week high of $34.27.

Washington Trust Bancorp (NASDAQ:WASH) last issued 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. Washington Trust Bancorp had a net margin of 11.51% and a return on equity of 9.95%. The firm had revenue of $102.66 million for the quarter, compared to analyst estimates of $46.06 million. During the same period last year, the company posted $0.66 EPS. Research analysts predict that Washington Trust Bancorp, Inc. will post 2.38 earnings per share for the current year.

Washington Trust Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 6.95%. The ex-dividend date of this dividend is Tuesday, October 1st. Washington Trust Bancorp’s payout ratio is presently 82.66%.

Analyst Ratings Changes

Separately, StockNews.com upgraded 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.