Wells Fargo & Company MN Acquires 175 Shares of Washington Trust Bancorp, Inc. (WASH)

Wells Fargo & Company MN boosted its holdings in Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 1.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,710 shares of the financial services provider’s stock after acquiring an additional 175 shares during the quarter. Wells Fargo & Company MN owned 0.10% of Washington Trust Bancorp worth $914,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Principal Financial Group Inc. lifted its position in Washington Trust Bancorp by 187.5% in the 2nd quarter. Principal Financial Group Inc. now owns 1,094,945 shares of the financial services provider’s stock valued at $56,445,000 after acquiring an additional 714,155 shares in the last quarter. Vanguard Group Inc. lifted its position in Washington Trust Bancorp by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 601,000 shares of the financial services provider’s stock valued at $29,629,000 after acquiring an additional 3,507 shares in the last quarter. Franklin Resources Inc. lifted its position in Washington Trust Bancorp by 22.1% in the 2nd quarter. Franklin Resources Inc. now owns 489,191 shares of the financial services provider’s stock valued at $25,218,000 after acquiring an additional 88,500 shares in the last quarter. WASHINGTON TRUST Co lifted its position in Washington Trust Bancorp by 0.8% in the 2nd quarter. WASHINGTON TRUST Co now owns 481,001 shares of the financial services provider’s stock valued at $24,796,000 after acquiring an additional 3,942 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Washington Trust Bancorp by 79.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 229,930 shares of the financial services provider’s stock valued at $11,852,000 after acquiring an additional 102,068 shares in the last quarter. 55.21% of the stock is currently owned by institutional investors and hedge funds.

Shares of Washington Trust Bancorp, Inc. (WASH) opened at $55.20 on Monday. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.09 and a current ratio of 1.10. The company has a market cap of $950.21, a P/E ratio of 19.10 and a beta of 0.76.

Washington Trust Bancorp (NASDAQ:WASH) last posted its quarterly earnings data on Monday, October 23rd. The financial services provider reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.01. The firm had revenue of $47.34 million during the quarter. Washington Trust Bancorp had a net margin of 23.63% and a return on equity of 12.56%.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Monday, October 2nd were paid a $0.39 dividend. This is a positive change from Washington Trust Bancorp’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Friday, September 29th. This represents a $1.56 annualized dividend and a yield of 2.83%. Washington Trust Bancorp’s dividend payout ratio (DPR) is 53.98%.

In other Washington Trust Bancorp news, SVP Dennis L. Algiere sold 950 shares of the stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $56.60, for a total value of $53,770.00. Following the completion of the sale, 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 link. Also, Director Katherine W. Hoxsie sold 2,000 shares of the stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $56.31, for a total transaction of $112,620.00. Following the completion of the sale, the director now owns 24,892 shares of the company’s stock, valued at approximately $1,401,668.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,156 shares of company stock valued at $177,049. Company insiders own 2.58% of the company’s stock.

Several equities research analysts have commented on the stock. Compass Point lowered shares of Washington Trust Bancorp from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 24th. BidaskClub upgraded shares of Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd.

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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.

Institutional Ownership by Quarter for Washington Trust Bancorp (NASDAQ:WASH)

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