Walleye Capital LLC Makes New Investment in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Walleye Capital LLC acquired a new position in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 9,775 shares of the financial services provider’s stock, valued at approximately $306,000.

Several other institutional investors have also recently made changes to their positions in WASH. Wilmington Savings Fund Society FSB purchased a new stake in Washington Trust Bancorp during the third quarter worth $32,000. Hantz Financial Services Inc. raised its position in shares of Washington Trust Bancorp by 15,152.6% in the fourth quarter. Hantz Financial Services Inc. now owns 2,898 shares of the financial services provider’s stock worth $91,000 after acquiring an additional 2,879 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Washington Trust Bancorp in the fourth quarter worth about $97,000. Essex Financial Services Inc. boosted its stake in shares of Washington Trust Bancorp by 10.9% during the 4th quarter. Essex Financial Services Inc. now owns 7,366 shares of the financial services provider’s stock worth $231,000 after acquiring an additional 726 shares in the last quarter. Finally, AlphaQuest LLC acquired a new stake in shares of Washington Trust Bancorp during the 4th quarter valued at about $345,000. 65.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on WASH. Seaport Res Ptn raised Washington Trust Bancorp from a “hold” rating to a “strong-buy” rating in a report on Friday, March 14th. Keefe, Bruyette & Woods decreased their target price on Washington Trust Bancorp from $34.00 to $31.00 and set a “market perform” rating on the stock in a research report on Tuesday. Finally, StockNews.com raised 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 1.6 %

WASH stock opened at $28.04 on Friday. Washington Trust Bancorp, Inc. has a 12-month low of $24.70 and a 12-month high of $40.59. The business’s 50-day moving average is $29.56 and its 200 day moving average is $32.46. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 2.63. The stock has a market cap of $540.50 million, a price-to-earnings ratio of -18.09 and a beta of 0.76.

Washington Trust Bancorp (NASDAQ:WASH) last issued its quarterly earnings results on Monday, April 21st. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.01). Washington Trust Bancorp had a positive return on equity of 8.99% and a negative net margin of 6.90%. The firm had revenue of $59.07 million during the quarter, compared to analyst estimates of $53.16 million. On average, sell-side analysts anticipate that Washington Trust Bancorp, Inc. will post 2.76 EPS for the current fiscal year.

Washington Trust Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 7.99%. The ex-dividend date of this dividend was Tuesday, April 1st. Washington Trust Bancorp’s dividend payout ratio (DPR) is -143.59%.

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.