Washington Trust Bancorp, Inc. $WASH Shares Sold by Campbell & CO Investment Adviser LLC

Campbell & CO Investment Adviser LLC trimmed its stake in Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 38.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 8,556 shares of the financial services provider’s stock after selling 5,263 shares during the quarter. Campbell & CO Investment Adviser LLC’s holdings in Washington Trust Bancorp were worth $242,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. AlphaQuest LLC bought a new stake in Washington Trust Bancorp in the 2nd quarter valued at about $33,000. Ransom Advisory Ltd bought a new stake in shares of Washington Trust Bancorp during the first quarter valued at approximately $40,000. Federated Hermes Inc. acquired a new position in shares of Washington Trust Bancorp during the first quarter worth approximately $53,000. Barrett & Company Inc. boosted 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 buying an additional 518 shares during the period. Finally, Hantz Financial Services Inc. grew its holdings in Washington Trust Bancorp by 112.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 6,289 shares of the financial services provider’s stock worth $178,000 after buying an additional 3,332 shares in the last quarter. Institutional investors own 65.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on WASH shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Washington Trust Bancorp in a report on Wednesday, October 8th. Keefe, Bruyette & Woods raised their target price on shares of Washington Trust Bancorp from $29.00 to $30.00 and gave the company a “market perform” rating in a research note on Wednesday, October 22nd. Finally, Piper Sandler dropped their price target on shares of 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. One analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $28.33.

Washington Trust Bancorp Price Performance

Shares of NASDAQ WASH opened at $26.66 on Tuesday. Washington Trust Bancorp, Inc. has a twelve month low of $24.95 and a twelve month high of $38.92. The company has a current ratio of 1.05, a quick ratio of 1.04 and a debt-to-equity ratio of 1.94. The firm has a 50-day moving average of $28.18 and a two-hundred day moving average of $28.36. The company has a market capitalization of $507.47 million, a price-to-earnings ratio of -16.77, a PEG ratio of 0.87 and a beta of 0.95.

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

Washington Trust Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Wednesday, October 1st were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 8.4%. The ex-dividend date was Wednesday, October 1st. Washington Trust Bancorp’s payout ratio is presently -140.88%.

Washington Trust Bancorp 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.