Wilmington Savings Fund Society FSB Acquires New Position in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Wilmington Savings Fund Society FSB bought a new stake in Washington Trust Bancorp, Inc. (NASDAQ:WASH) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,000 shares of the financial services provider’s stock, valued at approximately $32,000.

Other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in Washington Trust Bancorp by 7.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 826,057 shares of the financial services provider’s stock valued at $22,642,000 after purchasing an additional 59,115 shares during the period. Inspire Advisors LLC acquired a new position in shares of Washington Trust Bancorp during the second quarter valued at $1,529,000. American Century Companies Inc. grew its position in shares of 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 acquiring an additional 40,122 shares during the last quarter. Renaissance Technologies LLC increased its holdings 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 acquiring an additional 39,268 shares during the period. Finally, Zacks Investment Management bought a new stake in Washington Trust Bancorp in the 3rd quarter valued at about $1,258,000. 65.81% of the stock is owned by institutional investors.

Washington Trust Bancorp Stock Performance

Shares of WASH opened at $31.72 on Monday. The firm has a market capitalization of $541.30 million, a PE ratio of 11.88 and a beta of 0.79. 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 firm has a 50-day moving average price of $35.80 and a 200 day moving average price of $31.85. Washington Trust Bancorp, Inc. has a 52-week low of $24.11 and a 52-week high of $40.59.

Washington Trust Bancorp (NASDAQ:WASH) last posted its quarterly earnings data on Monday, October 21st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.08. Washington Trust Bancorp had a net margin of 11.24% and a return on equity of 9.55%. The business had revenue of $103.86 million during the quarter, compared to analysts’ expectations of $47.32 million. During the same period last year, the firm posted $0.65 earnings per share. On average, sell-side analysts anticipate that Washington Trust Bancorp, Inc. will post 2.49 earnings per share for the current fiscal year.

Washington Trust Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 7.06%. Washington Trust Bancorp’s dividend payout ratio is presently 83.90%.

Analysts Set New Price Targets

WASH has been the topic of several analyst reports. Piper Sandler upgraded shares of Washington Trust Bancorp from an “underweight” rating to a “neutral” rating and raised their price target for the company from $30.00 to $34.00 in a research note on Tuesday, October 22nd. StockNews.com cut Washington Trust Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, December 17th.

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.