Bank of America Corp DE Has $1.93 Million Stock Position in Washington Trust Bancorp (NASDAQ:WASH)

Bank of America Corp DE raised its position in Washington Trust Bancorp (NASDAQ:WASH) by 22.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,002 shares of the financial services provider’s stock after acquiring an additional 6,762 shares during the period. Bank of America Corp DE owned about 0.21% of Washington Trust Bancorp worth $1,931,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. raised its holdings in shares of Washington Trust Bancorp by 1.2% in the 2nd quarter. BlackRock Inc. now owns 1,122,747 shares of the financial services provider’s stock worth $58,584,000 after buying an additional 13,038 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Washington Trust Bancorp by 170.6% in the 2nd quarter. Acadian Asset Management LLC now owns 11,827 shares of the financial services provider’s stock worth $618,000 after buying an additional 7,456 shares in the last quarter. Advisor Group Inc. raised its holdings in shares of Washington Trust Bancorp by 465.8% in the 2nd quarter. Advisor Group Inc. now owns 7,740 shares of the financial services provider’s stock worth $403,000 after buying an additional 6,372 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Washington Trust Bancorp by 1.2% in the 2nd quarter. Renaissance Technologies LLC now owns 500,500 shares of the financial services provider’s stock worth $26,116,000 after buying an additional 5,800 shares in the last quarter. Finally, RB Capital Management LLC acquired a new position in shares of Washington Trust Bancorp in the 2nd quarter worth approximately $216,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have recently issued reports on WASH. BidaskClub raised Washington Trust Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. ValuEngine upgraded Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research upgraded Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, September 28th. Compass Point set a $53.00 price target on Washington Trust Bancorp and gave the stock a “buy” rating in a research report on Thursday, September 12th. Finally, Boenning Scattergood lowered Washington Trust Bancorp from an “outperform” rating to a “neutral” rating in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $54.33.

NASDAQ WASH opened at $50.85 on Wednesday. The firm has a market cap of $849.86 million, a PE ratio of 12.94 and a beta of 0.66. Washington Trust Bancorp has a one year low of $45.21 and a one year high of $54.24. The stock’s 50 day simple moving average is $48.33 and its 200 day simple moving average is $49.68. The company has a debt-to-equity ratio of 2.30, a current ratio of 1.10 and a quick ratio of 1.09.

Washington Trust Bancorp (NASDAQ:WASH) last released its quarterly earnings results on Monday, October 21st. The financial services provider reported $1.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.12. The business had revenue of $51.32 million for the quarter, compared to analyst estimates of $50.50 million. Washington Trust Bancorp had a return on equity of 15.12% and a net margin of 27.03%. As a group, equities analysts expect that Washington Trust Bancorp will post 3.87 earnings per share for the current year.

The firm also recently declared a — dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were given a dividend of $0.51 per share. The ex-dividend date was Monday, September 30th. This represents a yield of 4.1%. Washington Trust Bancorp’s dividend payout ratio (DPR) is presently 51.91%.

Washington Trust Bancorp Profile

Washington Trust Bancorp, Inc operates as the bank holding company for The Washington Trust Company, of Westerly that offers various financial products and services to individuals and businesses. The company operates in two segments, Commercial Banking and Wealth Management Services. The Commercial Banking segment provides various commercial and retail lending products, which include commercial real estate loans consisting of commercial mortgages and construction loans; commercial and industrial loans; residential real estate loans; and consumer loans comprising home equity loans and lines of credit, personal installment loans, and loans to individuals secured by general aviation aircraft.

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Institutional Ownership by Quarter for Washington Trust Bancorp (NASDAQ:WASH)

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