Northern Trust Corp Raises Stock Holdings in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Northern Trust Corp lifted its holdings in Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 8.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 174,017 shares of the financial services provider’s stock after buying an additional 14,142 shares during the quarter. Northern Trust Corp owned approximately 0.90% of Washington Trust Bancorp worth $5,455,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hantz Financial Services Inc. raised its holdings in shares of Washington Trust Bancorp by 15,152.6% in the fourth quarter. Hantz Financial Services Inc. now owns 2,898 shares of the financial services provider’s stock worth $91,000 after buying an additional 2,879 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Washington Trust Bancorp during the 4th quarter worth $97,000. State of Tennessee Department of Treasury purchased a new position in Washington Trust Bancorp during the 4th quarter worth $131,000. Aquatic Capital Management LLC purchased a new position in Washington Trust Bancorp during the 4th quarter worth $229,000. Finally, Essex Financial Services Inc. increased its holdings 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. 65.81% of the stock is currently owned by hedge funds and other institutional investors.

Washington Trust Bancorp Trading Up 0.3%

Shares of NASDAQ:WASH opened at $29.44 on Wednesday. Washington Trust Bancorp, Inc. has a 12-month low of $24.70 and a 12-month high of $40.59. The business’s fifty day simple moving average is $28.72 and its 200-day simple moving average is $31.84. The company has a market capitalization of $567.93 million, a PE ratio of -18.99 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 announced its quarterly 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). Washington Trust Bancorp had a negative net margin of 6.90% and a positive return on equity of 8.99%. The company had revenue of $59.07 million during the quarter, compared to analysts’ expectations of $53.16 million. As a group, equities research analysts predict that Washington Trust Bancorp, Inc. will post 2.76 earnings per share for the current fiscal year.

Washington Trust Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were paid 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 7.61%. Washington Trust Bancorp’s dividend payout ratio (DPR) is -143.59%.

Wall Street Analyst Weigh In

Several research analysts have commented on WASH shares. StockNews.com upgraded 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 report on Friday, March 14th. Finally, Keefe, Bruyette & Woods cut their price target on Washington Trust Bancorp from $34.00 to $31.00 and set a “market perform” rating on the stock in a report on Tuesday, April 22nd.

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.