Legal & General Group Plc Has $560,000 Holdings in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Legal & General Group Plc boosted its stake in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 6.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,864 shares of the financial services provider’s stock after purchasing an additional 1,116 shares during the quarter. Legal & General Group Plc owned about 0.09% of Washington Trust Bancorp worth $560,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Proficio Capital Partners LLC acquired a new position in shares of Washington Trust Bancorp during the fourth quarter worth approximately $1,955,000. Jane Street Group LLC increased its position in shares of Washington Trust Bancorp by 95.6% during the third quarter. Jane Street Group LLC now owns 36,640 shares of the financial services provider’s stock valued at $1,180,000 after purchasing an additional 17,906 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Washington Trust Bancorp in the 4th quarter valued at $369,000. JPMorgan Chase & Co. boosted its holdings in Washington Trust Bancorp by 60.0% during the third quarter. JPMorgan Chase & Co. now owns 66,737 shares of the financial services provider’s stock valued at $2,150,000 after purchasing an additional 25,029 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in Washington Trust Bancorp in the 4th quarter valued at $676,000. 65.81% of the stock is owned by institutional investors.

Washington Trust Bancorp Stock Up 0.4 %

Shares of Washington Trust Bancorp stock opened at $27.83 on Tuesday. The business has a 50-day moving average of $29.36 and a two-hundred day moving average of $32.42. Washington Trust Bancorp, Inc. has a 1 year low of $24.70 and a 1 year high of $40.59. The company has a debt-to-equity ratio of 2.63, a current ratio of 1.10 and a quick ratio of 1.10. The company has a market capitalization of $536.45 million, a P/E ratio of -17.95 and a beta of 0.76.

Washington Trust Bancorp (NASDAQ:WASH) last released its earnings results on Monday, April 21st. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.01). The firm had revenue of $59.07 million for the quarter, compared to the consensus estimate of $53.16 million. Washington Trust Bancorp had a positive return on equity of 8.99% and a negative net margin of 6.90%. As a group, equities analysts predict that Washington Trust Bancorp, Inc. will post 2.76 EPS for the current year.

Washington Trust Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st were given a dividend of $0.56 per share. The ex-dividend date was Tuesday, April 1st. This represents a $2.24 annualized dividend and a yield of 8.05%. Washington Trust Bancorp’s dividend payout ratio (DPR) is presently -143.59%.

Analysts Set New Price Targets

Several brokerages have recently commented on WASH. StockNews.com upgraded shares of Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods lowered their price target on shares of Washington Trust Bancorp from $34.00 to $31.00 and set a “market perform” rating for the company in a research report on Tuesday, April 22nd. Finally, Seaport Res Ptn upgraded Washington Trust Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 14th.

Washington Trust Bancorp Company 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.