JPMorgan Chase & Co. decreased its stake in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 5.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 217,454 shares of the financial services provider’s stock after selling 12,476 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.26% of Washington Trust Bancorp worth $12,493,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of WASH. Principal Financial Group Inc. increased its holdings in Washington Trust Bancorp by 187.5% during the 2nd quarter. Principal Financial Group Inc. now owns 1,094,945 shares of the financial services provider’s stock worth $56,445,000 after purchasing an additional 714,155 shares during the period. Franklin Resources Inc. increased its holdings in Washington Trust Bancorp by 22.1% during the 2nd quarter. Franklin Resources Inc. now owns 489,191 shares of the financial services provider’s stock worth $25,218,000 after purchasing an additional 88,500 shares during the period. Thrivent Financial For Lutherans purchased a new stake in Washington Trust Bancorp during the 2nd quarter worth about $2,607,000. PDT Partners LLC purchased a new stake in Washington Trust Bancorp during the 2nd quarter worth about $825,000. Finally, State Street Corp increased its holdings in Washington Trust Bancorp by 5.2% during the 2nd quarter. State Street Corp now owns 285,368 shares of the financial services provider’s stock worth $14,709,000 after purchasing an additional 14,149 shares during the period. Institutional investors own 55.09% of the company’s stock.
In other news, SVP Dennis L. Algiere sold 950 shares of the stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $56.60, for a total value of $53,770.00. Following the transaction, the senior vice president now owns 9,783 shares in the company, valued at approximately $553,717.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John F. Treanor sold 5,500 shares of the stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $55.94, for a total value of $307,670.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,451 shares of company stock worth $633,870. Company insiders own 2.58% of the company’s stock.
WASH has been the topic of several recent research reports. Compass Point downgraded Washington Trust Bancorp from a “buy” rating to a “neutral” rating in a report on Tuesday, October 24th. BidaskClub upgraded Washington Trust Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, December 20th.
Shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) traded up $0.15 during midday trading on Friday, reaching $55.70. The company’s stock had a trading volume of 25,068 shares, compared to its average volume of 34,598. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.02. Washington Trust Bancorp, Inc. has a 12 month low of $47.00 and a 12 month high of $59.10. The stock has a market cap of $956.62, a P/E ratio of 19.27 and a beta of 0.75.
Washington Trust Bancorp (NASDAQ:WASH) last released its quarterly earnings data on Monday, October 23rd. The financial services provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. Washington Trust Bancorp had a return on equity of 12.44% and a net margin of 23.63%. The business had revenue of $47.34 million for the quarter.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Tuesday, January 2nd were issued a $0.39 dividend. The ex-dividend date was Friday, December 29th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.80%. Washington Trust Bancorp’s payout ratio is currently 53.98%.
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About Washington Trust Bancorp
Washington Trust Bancorp, Inc is a bank holding company and financial holding company. The Company is a holding company of The Washington Trust Company, of Westerly (the Bank), a Rhode Island chartered commercial bank. The Company operates through two business segments: Commercial Banking and Wealth Management Services.
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