Wells Fargo & Company MN Has $359,000 Holdings in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Wells Fargo & Company MN raised its position in Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 23.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,458 shares of the financial services provider’s stock after purchasing an additional 2,166 shares during the quarter. Wells Fargo & Company MN owned 0.06% of Washington Trust Bancorp worth $359,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of WASH. Proficio Capital Partners LLC acquired a new stake in Washington Trust Bancorp in the 4th quarter valued at approximately $1,955,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Washington Trust Bancorp in the fourth quarter valued at approximately $369,000. JPMorgan Chase & Co. lifted its position in shares of Washington Trust Bancorp by 60.0% in the third quarter. JPMorgan Chase & Co. now owns 66,737 shares of the financial services provider’s stock worth $2,150,000 after purchasing an additional 25,029 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in Washington Trust Bancorp during the fourth quarter worth $676,000. Finally, Franklin Resources Inc. bought a new position in Washington Trust Bancorp in the fourth quarter valued at $6,824,000. 65.81% of the stock is currently owned by institutional investors.

Washington Trust Bancorp Stock Down 1.2 %

WASH stock opened at $28.28 on Tuesday. The business’s 50 day simple moving average is $29.02 and its 200 day simple moving average is $32.24. Washington Trust Bancorp, Inc. has a 1-year low of $24.70 and a 1-year high of $40.59. The firm has a market capitalization of $545.13 million, a PE ratio of -18.25 and a beta of 0.89. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 2.63.

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

Washington Trust Bancorp Dividend Announcement

The business also recently disclosed 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 of this dividend was Tuesday, April 1st. This represents a $2.24 annualized dividend and a yield of 7.92%. Washington Trust Bancorp’s dividend payout ratio (DPR) is presently -143.59%.

Wall Street Analysts Forecast Growth

A number of research firms 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 reduced their price target on 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 raised 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.