Tower Research Capital LLC TRC grew its stake in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 1,825.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,696 shares of the financial services provider’s stock after acquiring an additional 2,556 shares during the period. Tower Research Capital LLC TRC’s holdings in Washington Trust Bancorp were worth $139,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of WASH. Parametric Portfolio Associates LLC lifted its position in shares of Washington Trust Bancorp by 3.6% during the first quarter. Parametric Portfolio Associates LLC now owns 16,859 shares of the financial services provider’s stock worth $831,000 after acquiring an additional 588 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Washington Trust Bancorp by 2.0% during the first quarter. JPMorgan Chase & Co. now owns 127,862 shares of the financial services provider’s stock worth $6,304,000 after acquiring an additional 2,494 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of Washington Trust Bancorp by 29.3% during the first quarter. Prudential Financial Inc. now owns 27,789 shares of the financial services provider’s stock worth $1,370,000 after acquiring an additional 6,300 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Washington Trust Bancorp during the first quarter worth $279,000. Finally, Victory Capital Management Inc. lifted its position in shares of Washington Trust Bancorp by 10.0% during the first quarter. Victory Capital Management Inc. now owns 29,573 shares of the financial services provider’s stock worth $1,458,000 after acquiring an additional 2,688 shares in the last quarter. Hedge funds and other institutional investors own 55.31% of the company’s stock.
In related news, Chairman Joseph J. Marcaurele sold 5,000 shares of Washington Trust Bancorp stock in a transaction on Friday, August 4th. The shares were sold at an average price of $52.80, for a total transaction of $264,000.00. Following the transaction, the chairman now owns 57,583 shares in the company, valued at approximately $3,040,382.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 5,205 shares of company stock worth $274,607. 2.58% of the stock is owned by corporate insiders.
Separately, BidaskClub downgraded Washington Trust Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, July 24th.
Washington Trust Bancorp, Inc. (NASDAQ WASH) traded up 0.17% on Thursday, hitting $58.50. 4,353 shares of the stock traded hands. Washington Trust Bancorp, Inc. has a 52-week low of $39.60 and a 52-week high of $59.10. The company’s 50 day moving average price is $53.58 and its 200-day moving average price is $51.25. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 20.45 and a beta of 0.75.
Washington Trust Bancorp (NASDAQ:WASH) last issued its quarterly earnings results on Monday, July 24th. The financial services provider reported $0.76 earnings per share for the quarter, topping 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 net margin of 23.86% and a return on equity of 12.43%. On average, analysts forecast that Washington Trust Bancorp, Inc. will post $2.91 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Monday, October 2nd will be paid a dividend of $0.39 per share. This is a boost from Washington Trust Bancorp’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, September 29th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.67%. Washington Trust Bancorp’s payout ratio is 54.55%.
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Washington Trust Bancorp 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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