Geode Capital Management LLC Boosts Holdings in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Geode Capital Management LLC boosted its stake in Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 414,527 shares of the financial services provider’s stock after acquiring an additional 2,181 shares during the period. Geode Capital Management LLC owned about 2.15% of Washington Trust Bancorp worth $12,999,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB acquired a new stake in shares of Washington Trust Bancorp in the 3rd quarter valued at about $32,000. Hantz Financial Services Inc. increased its holdings in shares of Washington Trust Bancorp by 15,152.6% in the 4th quarter. Hantz Financial Services Inc. now owns 2,898 shares of the financial services provider’s stock valued at $91,000 after acquiring an additional 2,879 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in Washington Trust Bancorp in the 4th quarter valued at $97,000. Essex Financial Services Inc. boosted its stake in Washington Trust Bancorp by 10.9% during the 4th quarter. Essex Financial Services Inc. now owns 7,366 shares of the financial services provider’s stock worth $231,000 after purchasing an additional 726 shares during the period. Finally, AlphaQuest LLC purchased a new position in Washington Trust Bancorp during the 4th quarter worth $345,000. Institutional investors and hedge funds own 65.81% of the company’s stock.

Washington Trust Bancorp Price Performance

Shares of NASDAQ:WASH opened at $26.24 on Tuesday. 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 company has a 50-day moving average price of $29.87 and a 200 day moving average price of $32.55. Washington Trust Bancorp, Inc. has a 52 week low of $24.70 and a 52 week high of $40.59. The company has a market cap of $505.80 million, a P/E ratio of -16.93 and a beta of 0.76.

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, topping analysts’ consensus estimates 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%. Research analysts predict that Washington Trust Bancorp, Inc. will post 2.76 earnings per share for the current year.

Washington Trust Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 8.54%. The ex-dividend date was Tuesday, April 1st. Washington Trust Bancorp’s dividend payout ratio is currently -144.52%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on WASH shares. StockNews.com raised Washington Trust Bancorp from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Seaport Res Ptn upgraded Washington Trust Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 14th.

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.