Washington Trust Bancorp, Inc. (NASDAQ:WASH) Shares Sold by Jane Street Group LLC

Jane Street Group LLC lessened its stake in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 35.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,721 shares of the financial services provider’s stock after selling 12,919 shares during the quarter. Jane Street Group LLC owned about 0.12% of Washington Trust Bancorp worth $744,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Hantz Financial Services Inc. increased its stake in shares of Washington Trust Bancorp by 15,152.6% during the fourth 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 acquired a new position in shares of Washington Trust Bancorp during the fourth quarter valued at approximately $97,000. State of Tennessee Department of Treasury acquired a new position in shares of Washington Trust Bancorp during the fourth quarter valued at approximately $131,000. Aquatic Capital Management LLC acquired a new position in shares of Washington Trust Bancorp during the fourth quarter valued at approximately $229,000. Finally, Essex Financial Services Inc. increased its stake in shares of Washington Trust Bancorp by 10.9% during the fourth quarter. Essex Financial Services Inc. now owns 7,366 shares of the financial services provider’s stock valued at $231,000 after acquiring an additional 726 shares during the period. Institutional investors and hedge funds own 65.81% of the company’s stock.

Washington Trust Bancorp Trading Down 0.8%

Washington Trust Bancorp stock opened at $27.75 on Monday. The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market cap of $535.33 million, a price-to-earnings ratio of -17.90 and a beta of 0.89. Washington Trust Bancorp, Inc. has a 1 year low of $24.70 and a 1 year high of $40.59. The firm’s 50 day moving average price is $28.53 and its two-hundred day moving average price is $31.63.

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

Washington Trust Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 8.07%. The ex-dividend date was Tuesday, April 1st. Washington Trust Bancorp’s dividend payout ratio is -143.59%.

Analyst Upgrades and Downgrades

WASH has been the topic of a number of research analyst reports. Wall Street Zen 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 decreased their price target on shares of Washington Trust Bancorp from $34.00 to $31.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 22nd. Finally, Seaport Res Ptn upgraded shares of 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.