Raymond James & Associates Has $4.56 Million Holdings in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Raymond James & Associates cut its holdings in Washington Trust Bancorp, Inc. (NASDAQ:WASHGet Rating) by 0.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 98,128 shares of the financial services provider’s stock after selling 790 shares during the quarter. Raymond James & Associates owned approximately 0.57% of Washington Trust Bancorp worth $4,561,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in WASH. Captrust Financial Advisors lifted its stake in shares of Washington Trust Bancorp by 16,450.0% in the second quarter. Captrust Financial Advisors now owns 662 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 658 shares during the period. Great West Life Assurance Co. Can boosted its position in Washington Trust Bancorp by 27.2% in the first quarter. Great West Life Assurance Co. Can now owns 1,530 shares of the financial services provider’s stock worth $84,000 after purchasing an additional 327 shares during the last quarter. Amalgamated Bank purchased a new position in shares of Washington Trust Bancorp during the 1st quarter valued at $108,000. TIAA FSB bought a new stake in shares of Washington Trust Bancorp during the 2nd quarter valued at $209,000. Finally, Fundamentun LLC bought a new stake in shares of Washington Trust Bancorp during the 3rd quarter valued at $211,000. 71.23% of the stock is owned by institutional investors and hedge funds.

Washington Trust Bancorp Trading Down 1.2 %

Shares of NASDAQ WASH opened at $47.67 on Wednesday. Washington Trust Bancorp, Inc. has a 1-year low of $45.60 and a 1-year high of $60.10. The business’s 50 day moving average is $48.19 and its two-hundred day moving average is $49.45. The stock has a market capitalization of $819.02 million, a P/E ratio of 11.06 and a beta of 0.76. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.98 and a quick ratio of 0.98.

Washington Trust Bancorp (NASDAQ:WASHGet Rating) last announced its earnings results on Monday, October 24th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.04. The business had revenue of $57.85 million during the quarter, compared to analyst estimates of $54.80 million. Washington Trust Bancorp had a return on equity of 15.15% and a net margin of 30.94%. During the same quarter in the previous year, the business earned $1.07 earnings per share. As a group, research analysts expect that Washington Trust Bancorp, Inc. will post 4.17 EPS for the current year.

Washington Trust Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 6th. Investors of record on Tuesday, January 3rd were issued a $0.56 dividend. This is a positive change from Washington Trust Bancorp’s previous quarterly dividend of $0.54. The ex-dividend date was Friday, December 30th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 4.70%. Washington Trust Bancorp’s payout ratio is presently 51.97%.

Analysts Set New Price Targets

WASH has been the topic of several recent research reports. StockNews.com assumed coverage on Washington Trust Bancorp in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Compass Point lowered Washington Trust Bancorp from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $60.00 to $49.00 in a research report on Tuesday, October 25th. Finally, Piper Sandler reduced their target price on Washington Trust Bancorp to $53.00 in a report on Wednesday, October 5th.

Washington Trust Bancorp Company Profile

(Get Rating)

Washington Trust Bancorp, Inc operates as the bank holding company for The Washington Trust Company, of Westerly that offers 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 provides various commercial and retail lending products, such as commercial real estate loans, including commercial mortgages and construction loans; commercial and industrial loans; 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.

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Institutional Ownership by Quarter for Washington Trust Bancorp (NASDAQ:WASH)

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