Arrowstreet Capital Limited Partnership Makes New $369,000 Investment in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Arrowstreet Capital Limited Partnership acquired a new stake in Washington Trust Bancorp, Inc. (NASDAQ:WASH) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 11,779 shares of the financial services provider’s stock, valued at approximately $369,000. Arrowstreet Capital Limited Partnership owned about 0.06% of Washington Trust Bancorp as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its holdings in Washington Trust Bancorp by 74.7% during the 4th quarter. JPMorgan Chase & Co. now owns 116,608 shares of the financial services provider’s stock valued at $3,656,000 after purchasing an additional 49,871 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Washington Trust Bancorp by 1,154.4% in the fourth quarter. Prudential Financial Inc. now owns 86,729 shares of the financial services provider’s stock valued at $2,719,000 after purchasing an additional 79,815 shares during the period. Vanguard Group Inc. lifted its stake in shares of Washington Trust Bancorp by 10.6% during the 4th quarter. Vanguard Group Inc. now owns 1,033,333 shares of the financial services provider’s stock worth $32,395,000 after buying an additional 98,802 shares during the last quarter. Napatree Capital LLC boosted its holdings in shares of Washington Trust Bancorp by 2.2% during the 4th quarter. Napatree Capital LLC now owns 55,773 shares of the financial services provider’s stock worth $1,748,000 after buying an additional 1,180 shares during the period. Finally, LPL Financial LLC grew its stake in Washington Trust Bancorp by 4.2% in the 4th quarter. LPL Financial LLC now owns 18,293 shares of the financial services provider’s stock valued at $573,000 after buying an additional 738 shares during the last quarter. 65.81% of the stock is currently owned by institutional investors.

Washington Trust Bancorp Stock Down 0.3 %

Shares of WASH opened at $26.12 on Monday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 2.63. The stock has a market capitalization of $503.49 million, a PE ratio of -16.85 and a beta of 0.76. The firm’s 50 day moving average is $30.64 and its 200-day moving average is $32.73. Washington Trust Bancorp, Inc. has a 12 month low of $24.11 and a 12 month high of $40.59.

Washington Trust Bancorp (NASDAQ:WASH) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. Washington Trust Bancorp had a positive return on equity of 8.99% and a negative net margin of 6.90%. Equities research analysts forecast that Washington Trust Bancorp, Inc. will post 2.76 EPS for the current year.

Washington Trust Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st were paid a dividend of $0.56 per share. The ex-dividend date was Tuesday, April 1st. This represents a $2.24 dividend on an annualized basis and a yield of 8.58%. Washington Trust Bancorp’s payout ratio is -144.52%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on WASH shares. StockNews.com raised Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Seaport Res Ptn raised Washington Trust Bancorp from a “hold” rating to a “strong-buy” rating in a report on Friday, March 14th.

About Washington Trust Bancorp

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.