Zacks Investment Management Has $1.73 Million Stock Holdings in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Zacks Investment Management lifted its position in Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 41.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,298 shares of the financial services provider’s stock after buying an additional 16,228 shares during the quarter. Zacks Investment Management’s holdings in Washington Trust Bancorp were worth $1,734,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of WASH. Wilmington Savings Fund Society FSB acquired a new stake in Washington Trust Bancorp during the third quarter worth approximately $32,000. Hantz Financial Services Inc. raised its stake in Washington Trust Bancorp by 15,152.6% during the fourth quarter. Hantz Financial Services Inc. now owns 2,898 shares of the financial services provider’s stock worth $91,000 after buying an additional 2,879 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Washington Trust Bancorp in the 4th quarter worth about $97,000. Essex Financial Services Inc. lifted its stake in Washington Trust Bancorp by 10.9% in the fourth quarter. Essex Financial Services Inc. now owns 7,366 shares of the financial services provider’s stock valued at $231,000 after buying an additional 726 shares during the period. Finally, Walleye Capital LLC acquired a new position in shares of Washington Trust Bancorp during the 4th quarter valued at $306,000. Institutional investors own 65.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Seaport Res Ptn upgraded Washington Trust Bancorp from a “hold” rating to a “strong-buy” rating in a report on Friday, March 14th. StockNews.com upgraded shares of Washington Trust Bancorp from a “sell” rating to a “hold” rating in a report on Friday, January 31st.

Washington Trust Bancorp Trading Up 0.3 %

Shares of WASH stock opened at $27.21 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 2.63. The company has a 50 day moving average of $29.99 and a 200-day moving average of $32.56. Washington Trust Bancorp, Inc. has a 12-month low of $24.44 and a 12-month high of $40.59. The firm has a market cap of $524.50 million, a P/E ratio of -17.55 and a beta of 0.76.

Washington Trust Bancorp (NASDAQ:WASH) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Washington Trust Bancorp had a negative net margin of 6.90% and a positive return on equity of 8.99%. Sell-side analysts anticipate that Washington Trust Bancorp, Inc. will post 2.76 earnings per share for the current year.

Washington Trust Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 8.23%. The ex-dividend date was Tuesday, April 1st. Washington Trust Bancorp’s payout ratio is -144.52%.

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.