Signaturefd LLC Lowers Stock Holdings in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Signaturefd LLC lowered its stake in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 27.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,660 shares of the financial services provider’s stock after selling 1,734 shares during the quarter. Signaturefd LLC’s holdings in Washington Trust Bancorp were worth $151,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Coastline Trust Co purchased a new position in shares of Washington Trust Bancorp during the fourth quarter worth about $353,000. SG Americas Securities LLC purchased a new position in shares of Washington Trust Bancorp during the fourth quarter worth about $179,000. American Century Companies Inc. grew its holdings in shares of Washington Trust Bancorp by 13.2% during the third quarter. American Century Companies Inc. now owns 169,477 shares of the financial services provider’s stock worth $4,462,000 after buying an additional 19,730 shares during the last quarter. Third Avenue Management LLC lifted its position in Washington Trust Bancorp by 44.5% in the third quarter. Third Avenue Management LLC now owns 294,994 shares of the financial services provider’s stock valued at $8,050,000 after purchasing an additional 90,842 shares during the period. Finally, Crestwood Advisors Group LLC acquired a new stake in Washington Trust Bancorp in the third quarter valued at about $2,512,000. Hedge funds and other institutional investors own 65.81% of the company’s stock.

Washington Trust Bancorp Price Performance

Shares of NASDAQ:WASH opened at $26.14 on Monday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 2.57. The company has a market cap of $445.16 million, a P/E ratio of 9.65 and a beta of 0.81. Washington Trust Bancorp, Inc. has a 52 week low of $21.69 and a 52 week high of $33.96. The company has a 50-day moving average price of $25.76 and a 200 day moving average price of $27.21.

Washington Trust Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Monday, April 1st were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 8.57%. Washington Trust Bancorp’s payout ratio is 82.66%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. StockNews.com upgraded shares of Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday. Seaport Res Ptn downgraded shares of Washington Trust Bancorp from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 31st.

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.