American Century Companies Inc. Purchases 22,995 Shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH)

American Century Companies Inc. boosted its position in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 20.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,168 shares of the financial services provider’s stock after acquiring an additional 22,995 shares during the quarter. American Century Companies Inc. owned 0.80% of Washington Trust Bancorp worth $4,741,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WASH. US Bancorp DE raised its position in Washington Trust Bancorp by 155.1% during the first quarter. US Bancorp DE now owns 755 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 459 shares in the last quarter. Captrust Financial Advisors increased its holdings 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 valued at $32,000 after purchasing an additional 658 shares during the last quarter. CWM LLC increased its holdings in shares of Washington Trust Bancorp by 99.8% in the first quarter. CWM LLC now owns 1,039 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 519 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Washington Trust Bancorp by 641.3% in the first quarter. Tower Research Capital LLC TRC now owns 1,112 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 962 shares during the last quarter. Finally, Citigroup Inc. increased its holdings in shares of Washington Trust Bancorp by 31.6% in the first quarter. Citigroup Inc. now owns 1,953 shares of the financial services provider’s stock valued at $68,000 after purchasing an additional 469 shares during the last quarter. 68.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

WASH has been the topic of several research reports. StockNews.com upgraded shares of Washington Trust Bancorp to a “sell” rating in a report on Wednesday, August 16th. Piper Sandler downgraded shares of Washington Trust Bancorp from a “neutral” rating to an “underweight” rating in a report on Tuesday, July 25th.

Washington Trust Bancorp Trading Down 2.6 %

WASH stock opened at $27.43 on Thursday. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.03 and a current ratio of 1.03. The company’s 50-day simple moving average is $28.93 and its 200 day simple moving average is $30.57. Washington Trust Bancorp, Inc. has a 52 week low of $22.26 and a 52 week high of $51.25. The company has a market capitalization of $466.86 million, a PE ratio of 8.00 and a beta of 0.75.

Washington Trust Bancorp (NASDAQ:WASH) last released its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.58 by $0.08. Washington Trust Bancorp had a net margin of 18.79% and a return on equity of 13.08%. The business had revenue of $89.56 million for the quarter, compared to the consensus estimate of $47.40 million. During the same period in the prior year, the company posted $1.14 earnings per share. As a group, sell-side analysts anticipate that Washington Trust Bancorp, Inc. will post 2.56 earnings per share for the current year.

Washington Trust Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 13th. Shareholders of record on Monday, July 3rd were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Friday, June 30th. This represents a $2.24 dividend on an annualized basis and a yield of 8.17%. Washington Trust Bancorp’s payout ratio is 65.31%.

Washington Trust Bancorp Profile

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 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 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.