Barclays PLC Increases Stock Holdings in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Barclays PLC boosted its position in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 44.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,315 shares of the financial services provider’s stock after acquiring an additional 16,511 shares during the period. Barclays PLC’s holdings in Washington Trust Bancorp were worth $1,717,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Barrett & Company Inc. grew its position in shares of Washington Trust Bancorp by 20.1% during the 3rd quarter. Barrett & Company Inc. now owns 4,694 shares of the financial services provider’s stock valued at $151,000 after purchasing an additional 787 shares in the last quarter. CWM LLC boosted its stake in Washington Trust Bancorp by 60.5% during the third quarter. CWM LLC now owns 5,048 shares of the financial services provider’s stock valued at $163,000 after buying an additional 1,902 shares during the period. Sanders Morris Harris LLC bought a new stake in Washington Trust Bancorp during the third quarter valued at $206,000. The Manufacturers Life Insurance Company purchased a new position in Washington Trust Bancorp during the third quarter worth about $209,000. Finally, Shepherd Financial Partners LLC increased its stake in Washington Trust Bancorp by 12.7% in the 3rd quarter. Shepherd Financial Partners LLC now owns 9,061 shares of the financial services provider’s stock worth $292,000 after acquiring an additional 1,019 shares during the last quarter. Institutional investors own 65.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on WASH shares. StockNews.com downgraded Washington Trust Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday. Piper Sandler upgraded shares of Washington Trust Bancorp from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $30.00 to $34.00 in a research report on Tuesday, October 22nd.

Washington Trust Bancorp Stock Down 3.5 %

WASH opened at $29.58 on Friday. The business’s fifty day simple moving average is $34.87 and its 200 day simple moving average is $32.37. Washington Trust Bancorp, Inc. has a 52 week low of $24.11 and a 52 week high of $40.59. 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 stock has a market cap of $569.62 million, a PE ratio of 11.08 and a beta of 0.81.

Washington Trust Bancorp (NASDAQ:WASH) last announced its quarterly earnings data on Monday, October 21st. The financial services provider reported $0.64 EPS for the quarter, beating the consensus estimate of $0.56 by $0.08. The firm had revenue of $103.86 million for the quarter, compared to analyst estimates of $47.32 million. Washington Trust Bancorp had a return on equity of 9.55% and a net margin of 11.24%. During the same period in the prior year, the company earned $0.65 EPS. As a group, research analysts expect that Washington Trust Bancorp, Inc. will post 2.49 earnings per share for the current fiscal year.

Washington Trust Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a $0.56 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 7.57%. Washington Trust Bancorp’s payout ratio is 83.90%.

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.