First Hawaiian Bank acquired a new stake in Washington Trust Bancorp (NASDAQ:WASH) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 4,650 shares of the financial services provider’s stock, valued at approximately $257,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Mount Yale Investment Advisors LLC purchased a new position in shares of Washington Trust Bancorp in the 1st quarter valued at about $126,000. Tower Research Capital LLC TRC raised its position in shares of Washington Trust Bancorp by 1,740.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,553 shares of the financial services provider’s stock worth $206,000 after acquiring an additional 3,360 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Washington Trust Bancorp during the 2nd quarter worth about $319,000. Legal & General Group Plc raised its position in shares of Washington Trust Bancorp by 24.6% during the 1st quarter. Legal & General Group Plc now owns 6,691 shares of the financial services provider’s stock worth $360,000 after acquiring an additional 1,321 shares in the last quarter. Finally, Coastline Trust Co raised its position in shares of Washington Trust Bancorp by 51.7% during the 2nd quarter. Coastline Trust Co now owns 6,750 shares of the financial services provider’s stock worth $392,000 after acquiring an additional 2,300 shares in the last quarter. Institutional investors and hedge funds own 57.65% of the company’s stock.
Several equities research analysts have recently weighed in on the company. BidaskClub lowered Washington Trust Bancorp from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 24th. Sandler O’Neill raised Washington Trust Bancorp from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a research report on Thursday, October 4th.
Shares of NASDAQ WASH opened at $51.93 on Wednesday. The company has a current ratio of 1.09, a quick ratio of 1.08 and a debt-to-equity ratio of 2.19. Washington Trust Bancorp has a fifty-two week low of $50.00 and a fifty-two week high of $63.25. The stock has a market cap of $878.53 million, a PE ratio of 13.48 and a beta of 0.61.
Washington Trust Bancorp (NASDAQ:WASH) last issued its earnings results on Monday, October 22nd. The financial services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.03. Washington Trust Bancorp had a return on equity of 15.76% and a net margin of 25.69%. The business had revenue of $48.66 million for the quarter.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Monday, October 1st were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend was Friday, September 28th.
Washington Trust Bancorp Profile
Washington Trust Bancorp, Inc operates as the bank holding company for The Washington Trust Company, of Westerly that offers various financial products and services to individuals and businesses. The company operates in two segments, Commercial Banking and Wealth Management Services. The Commercial Banking segment provides various commercial and retail lending products, which include commercial real estate loans consisting of commercial mortgages and construction loans; commercial and industrial loans; residential real estate loans; and consumer loans comprising home equity loans and lines of credit, personal installment loans, and loans to individuals secured by general aviation aircraft.
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