SG Americas Securities LLC Has $2.91 Million Stock Position in Washington Trust Bancorp, Inc. $WASH

SG Americas Securities LLC boosted its stake in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 1,417.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 98,423 shares of the financial services provider’s stock after acquiring an additional 91,936 shares during the quarter. SG Americas Securities LLC owned approximately 0.52% of Washington Trust Bancorp worth $2,908,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WASH. Franklin Resources Inc. increased its holdings in shares of Washington Trust Bancorp by 28.3% in the third quarter. Franklin Resources Inc. now owns 560,188 shares of the financial services provider’s stock valued at $16,189,000 after purchasing an additional 123,734 shares in the last quarter. Qube Research & Technologies Ltd lifted its holdings in Washington Trust Bancorp by 173.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 88,373 shares of the financial services provider’s stock worth $2,554,000 after buying an additional 56,102 shares in the last quarter. Teton Advisors LLC bought a new position in Washington Trust Bancorp in the 3rd quarter valued at $962,000. Jane Street Group LLC bought a new position in Washington Trust Bancorp in the 2nd quarter valued at $857,000. Finally, Two Sigma Investments LP increased its stake in shares of Washington Trust Bancorp by 17.9% in the 3rd quarter. Two Sigma Investments LP now owns 181,692 shares of the financial services provider’s stock valued at $5,251,000 after buying an additional 27,625 shares during the period. Institutional investors and hedge funds own 65.81% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Washington Trust Bancorp in a research note on Wednesday, January 21st. Keefe, Bruyette & Woods boosted their price objective on Washington Trust Bancorp from $30.00 to $34.00 and gave the stock a “market perform” rating in a report on Friday, January 30th. Wall Street Zen downgraded shares of Washington Trust Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Zacks Research raised shares of Washington Trust Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 29th. Finally, Piper Sandler assumed coverage on shares of Washington Trust Bancorp in a research report on Monday, March 16th. They set a “neutral” rating and a $32.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Washington Trust Bancorp has a consensus rating of “Hold” and a consensus target price of $31.33.

Washington Trust Bancorp Price Performance

Shares of Washington Trust Bancorp stock opened at $33.68 on Friday. The business has a fifty day simple moving average of $33.92 and a 200 day simple moving average of $30.62. The stock has a market cap of $641.27 million, a PE ratio of 12.47, a price-to-earnings-growth ratio of 0.70 and a beta of 0.81. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.19. Washington Trust Bancorp, Inc. has a 12 month low of $24.95 and a 12 month high of $37.08.

Washington Trust Bancorp (NASDAQ:WASH) last released its earnings results on Wednesday, January 28th. The financial services provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.08. Washington Trust Bancorp had a return on equity of 9.75% and a net margin of 13.26%.The firm had revenue of $59.25 million for the quarter, compared to analyst estimates of $56.38 million. Research analysts predict that Washington Trust Bancorp, Inc. will post 2.76 EPS for the current year.

Washington Trust Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Wednesday, April 1st will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date is Wednesday, April 1st. Washington Trust Bancorp’s dividend payout ratio (DPR) is currently 82.96%.

Washington Trust Bancorp Company Profile

Washington Trust Bancorp, Inc is the bank holding company for The Washington Trust Company, a community bank headquartered in Westerly, Rhode Island. Through its subsidiary, the company operates a network of branch offices across Rhode Island and southeastern Connecticut, serving individuals, small businesses and municipalities with a full suite of financial services.

The company’s core business activities encompass retail and commercial banking, including checking and savings accounts, consumer and commercial loans, mortgage financing, and cash management solutions.