Cwm LLC Increases Holdings in Washington Trust Bancorp, Inc. $WASH

Cwm LLC lifted its position in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 6.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,501 shares of the financial services provider’s stock after purchasing an additional 734 shares during the period. Cwm LLC owned about 0.06% of Washington Trust Bancorp worth $354,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Barrett & Company Inc. increased its position in shares of Washington Trust Bancorp by 10.1% during the second quarter. Barrett & Company Inc. now owns 5,646 shares of the financial services provider’s stock worth $160,000 after purchasing an additional 518 shares in the last quarter. Brown Lisle Cummings Inc. increased its position in shares of Washington Trust Bancorp by 9.3% during the second quarter. Brown Lisle Cummings Inc. now owns 33,438 shares of the financial services provider’s stock worth $946,000 after purchasing an additional 2,839 shares in the last quarter. Ransom Advisory Ltd acquired a new stake in shares of Washington Trust Bancorp during the first quarter worth about $40,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Washington Trust Bancorp by 17.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,351 shares of the financial services provider’s stock worth $350,000 after purchasing an additional 1,708 shares in the last quarter. Finally, EJF Capital LLC increased its position in shares of Washington Trust Bancorp by 1.7% during the first quarter. EJF Capital LLC now owns 89,265 shares of the financial services provider’s stock worth $2,755,000 after purchasing an additional 1,494 shares in the last quarter. Institutional investors and hedge funds own 65.81% of the company’s stock.

Analyst Upgrades and Downgrades

WASH has been the topic of a number of research analyst reports. Piper Sandler cut their target price on Washington Trust Bancorp from $28.00 to $27.00 and set an “underweight” rating on the stock in a research report on Thursday, October 9th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Washington Trust Bancorp in a research report on Friday. Finally, Keefe, Bruyette & Woods boosted their price target on Washington Trust Bancorp from $29.00 to $30.00 and gave the company a “market perform” rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $28.33.

Washington Trust Bancorp Price Performance

Shares of NASDAQ:WASH opened at $27.82 on Friday. The business’s 50 day simple moving average is $28.81 and its 200-day simple moving average is $28.30. The firm has a market capitalization of $533.03 million, a price-to-earnings ratio of -17.50, a price-to-earnings-growth ratio of 0.88 and a beta of 0.91. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.05 and a quick ratio of 1.04. Washington Trust Bancorp, Inc. has a 12 month low of $24.95 and a 12 month high of $40.59.

Washington Trust Bancorp (NASDAQ:WASH) last announced its quarterly earnings results on Monday, October 20th. The financial services provider reported $0.56 EPS for the quarter, topping the consensus estimate of $0.46 by $0.10. The business had revenue of $56.47 million for the quarter, compared to analyst estimates of $56.39 million. Washington Trust Bancorp had a positive return on equity of 8.97% and a negative net margin of 6.22%.During the same quarter in the previous year, the company earned $0.64 EPS. As a group, equities analysts forecast that Washington Trust Bancorp, Inc. will post 2.76 earnings per share for the current fiscal year.

Washington Trust Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $2.24 annualized dividend and a dividend yield of 8.1%. Washington Trust Bancorp’s payout ratio is -140.88%.

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.