Washington Trust Bancorp, Inc. $WASH Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lowered its position in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 15.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 693,201 shares of the financial services provider’s stock after selling 131,424 shares during the period. Dimensional Fund Advisors LP owned 3.64% of Washington Trust Bancorp worth $23,194,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of WASH. Vanguard Group Inc. lifted its position in Washington Trust Bancorp by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,140,227 shares of the financial services provider’s stock valued at $32,953,000 after purchasing an additional 7,641 shares during the last quarter. Franklin Resources Inc. grew its position in Washington Trust Bancorp by 13.2% in the 4th quarter. Franklin Resources Inc. now owns 634,333 shares of the financial services provider’s stock worth $18,745,000 after purchasing an additional 74,145 shares during the last quarter. Invesco Ltd. grew its position in Washington Trust Bancorp by 3.0% in the 2nd quarter. Invesco Ltd. now owns 304,400 shares of the financial services provider’s stock worth $8,608,000 after purchasing an additional 8,938 shares during the last quarter. Drexel Morgan & Co. increased its stake in shares of Washington Trust Bancorp by 19.9% in the fourth quarter. Drexel Morgan & Co. now owns 300,800 shares of the financial services provider’s stock valued at $8,889,000 after purchasing an additional 50,000 shares during the period. Finally, First Horizon Corp acquired a new stake in shares of Washington Trust Bancorp in the first quarter valued at approximately $9,912,000. Institutional investors and hedge funds own 65.81% of the company’s stock.

Washington Trust Bancorp Trading Down 1.0%

Washington Trust Bancorp stock opened at $39.07 on Friday. The firm has a 50 day simple moving average of $36.18 and a 200-day simple moving average of $34.30. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.99 and a quick ratio of 0.98. The stock has a market capitalization of $745.06 million, a PE ratio of 13.57, a price-to-earnings-growth ratio of 0.90 and a beta of 0.72. Washington Trust Bancorp, Inc. has a 12-month low of $25.23 and a 12-month high of $40.25.

Washington Trust Bancorp (NASDAQ:WASH) last posted its quarterly earnings data on Monday, July 20th. The financial services provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. The business had revenue of $60.47 million for the quarter, compared to analyst estimates of $59.91 million. Washington Trust Bancorp had a net margin of 14.50% and a return on equity of 10.24%. As a group, equities research analysts expect that Washington Trust Bancorp, Inc. will post 3.2 EPS for the current fiscal year.

Washington Trust Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Wednesday, July 1st were given a dividend of $0.56 per share. The ex-dividend date was Wednesday, July 1st. This represents a $2.24 annualized dividend and a dividend yield of 5.7%. Washington Trust Bancorp’s dividend payout ratio (DPR) is 77.78%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on WASH. Weiss Ratings upgraded Washington Trust Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, June 5th. Zacks Research upgraded Washington Trust Bancorp from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 23rd. Seaport Research Partners cut Washington Trust Bancorp from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 22nd. Keefe, Bruyette & Woods lifted their target price on Washington Trust Bancorp from $33.00 to $36.00 and gave the company a “market perform” rating in a research note on Wednesday, July 22nd. Finally, Wall Street Zen upgraded Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Washington Trust Bancorp currently has a consensus rating of “Hold” and a consensus price target of $35.50.

Washington Trust Bancorp Profile

Washington Trust Bancorp, Inc is the bank holding company for The Washington Trust Company, a community bank headquartered in Westerly, Rhode Island. Through its subsidiary, the company operates a network of branch offices across Rhode Island and southeastern Connecticut, serving individuals, small businesses and municipalities with a full suite of financial services.

The company’s core business activities encompass retail and commercial banking, including checking and savings accounts, consumer and commercial loans, mortgage financing, and cash management solutions.