Geode Capital Management LLC raised its stake in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 2.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 131,480 shares of the financial services provider’s stock after buying an additional 2,522 shares during the period. Geode Capital Management LLC owned approximately 0.76% of Washington Trust Bancorp worth $6,481,000 as of its most recent filing with the SEC.
Several other institutional investors have also added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Washington Trust Bancorp during the fourth quarter valued at about $7,339,000. BTIM Corp. boosted its position in shares of Washington Trust Bancorp by 37.1% in the first quarter. BTIM Corp. now owns 193,085 shares of the financial services provider’s stock valued at $9,519,000 after buying an additional 52,249 shares during the period. Principal Financial Group Inc. boosted its position in shares of Washington Trust Bancorp by 11.9% in the first quarter. Principal Financial Group Inc. now owns 380,790 shares of the financial services provider’s stock valued at $18,773,000 after buying an additional 40,482 shares during the period. Edge Asset Management Inc. boosted its position in shares of Washington Trust Bancorp by 4.4% in the first quarter. Edge Asset Management Inc. now owns 681,076 shares of the financial services provider’s stock valued at $33,577,000 after buying an additional 28,480 shares during the period. Finally, Virginia Retirement Systems ET AL purchased a new position in shares of Washington Trust Bancorp during the first quarter valued at about $478,000. Institutional investors own 58.83% of the company’s stock.
Shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) opened at 49.50 on Friday. Washington Trust Bancorp, Inc. has a 12 month low of $38.90 and a 12 month high of $58.30. The firm has a market capitalization of $851.90 million, a price-to-earnings ratio of 17.31 and a beta of 0.73. The firm has a 50-day moving average price of $51.80 and a 200 day moving average price of $51.30.
Washington Trust Bancorp (NASDAQ:WASH) last announced its quarterly earnings results on Monday, July 24th. The financial services provider reported $0.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.06. The business had revenue of $46.71 million for the quarter. Washington Trust Bancorp had a return on equity of 12.43% and a net margin of 23.86%. On average, analysts anticipate that Washington Trust Bancorp, Inc. will post $2.92 EPS for the current fiscal year.
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Separately, BidaskClub upgraded Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd.
In related news, Chairman Joseph J. Marcaurele sold 5,000 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $52.80, for a total value of $264,000.00. Following the sale, the chairman now owns 57,583 shares of the company’s stock, valued at approximately $3,040,382.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders sold 5,481 shares of company stock worth $287,630. 2.58% of the stock is owned by insiders.
Washington Trust Bancorp Company Profile
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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