Riggs Asset Managment Co. Inc. decreased its stake in shares of Washington Trust Bancorp Inc. (NASDAQ:WASH) by 10.0% during the second quarter, Holdings Channel reports. The fund owned 9,000 shares of the financial services provider’s stock after selling 1,000 shares during the period. Riggs Asset Managment Co. Inc.’s holdings in Washington Trust Bancorp were worth $341,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of WASH. BlackRock Institutional Trust Company N.A. raised its position in Washington Trust Bancorp by 0.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 466,232 shares of the financial services provider’s stock valued at $17,400,000 after buying an additional 1,322 shares during the period. Renaissance Technologies LLC raised its position in Washington Trust Bancorp by 22.8% in the first quarter. Renaissance Technologies LLC now owns 386,514 shares of the financial services provider’s stock valued at $14,425,000 after buying an additional 71,846 shares during the period. Hilton Capital Management LLC acquired a new position in Washington Trust Bancorp during the second quarter valued at approximately $5,309,000. Foundry Partners LLC raised its position in Washington Trust Bancorp by 0.3% in the second quarter. Foundry Partners LLC now owns 73,137 shares of the financial services provider’s stock valued at $2,773,000 after buying an additional 225 shares during the period. Finally, Zebra Capital Management LLC acquired a new position in Washington Trust Bancorp during the first quarter valued at approximately $560,000. 52.25% of the stock is owned by institutional investors.
Washington Trust Bancorp Inc. (NASDAQ:WASH) traded up 1.03% during midday trading on Friday, hitting $40.40. 32,067 shares of the stock traded hands. The firm has a market cap of $690.07 million, a PE ratio of 16.17 and a beta of 0.85. Washington Trust Bancorp Inc. has a 52-week low of $34.59 and a 52-week high of $43.85. The stock has a 50-day moving average of $41.35 and a 200 day moving average of $38.78.
Washington Trust Bancorp (NASDAQ:WASH) last posted its earnings results on Monday, July 25th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by $0.02. Washington Trust Bancorp had a net margin of 22.85% and a return on equity of 11.32%. Equities analysts forecast that Washington Trust Bancorp Inc. will post $2.55 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Monday, October 3rd will be paid a $0.37 dividend. This is a boost from Washington Trust Bancorp’s previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a dividend yield of 3.66%. The ex-dividend date is Thursday, September 29th. Washington Trust Bancorp’s payout ratio is currently 59.20%.
Several equities analysts have commented on WASH shares. Keefe, Bruyette & Woods lowered shares of Washington Trust Bancorp from an “outperform” rating to a “market perform” rating and set a $41.00 price objective for the company. in a research report on Monday, October 3rd. Compass Point lowered shares of Washington Trust Bancorp from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 20th.
In related news, Director Katherine W. Hoxsie sold 2,000 shares of the business’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $42.31, for a total value of $84,620.00. Following the completion of the transaction, the director now directly owns 24,302 shares in the company, valued at approximately $1,028,217.62. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.58% of the stock is currently owned by corporate insiders.
Washington Trust Bancorp Company Profile
Washington Trust Bancorp, Inc (Bancorp) is a bank holding and financial holding company. The Company operates through two segments: Commercial Banking and Wealth Management Services. Its Commercial Banking segment includes commercial, residential and consumer lending activities; equity in losses of unconsolidated investments in real estate limited partnerships, mortgage banking, secondary market and loan servicing activities; deposit generation; merchant credit card services; cash management activities, and direct banking activities, which include the operation of automated teller machines (ATMs), telephone and Internet banking services, and customer support and sales.
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