Insider Selling: Washington Trust Bancorp, Inc. (NASDAQ:WASH) EVP Sells 535 Shares of Stock

Washington Trust Bancorp, Inc. (NASDAQ:WASH) EVP Kathleen A. Ryan sold 535 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $26.46, for a total value of $14,156.10. Following the completion of the sale, the executive vice president now owns 5,346 shares of the company’s stock, valued at $141,455.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Washington Trust Bancorp Price Performance

WASH opened at $26.18 on Wednesday. The business has a fifty day moving average of $25.75 and a 200 day moving average of $27.23. The stock has a market cap of $445.85 million, a P/E ratio of 9.66 and a beta of 0.80. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 2.57. Washington Trust Bancorp, Inc. has a 52-week low of $21.69 and a 52-week high of $33.96.

Washington Trust Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Monday, April 1st were paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 8.56%. The ex-dividend date of this dividend was Thursday, March 28th. Washington Trust Bancorp’s dividend payout ratio is currently 82.66%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Kestra Private Wealth Services LLC grew its stake in Washington Trust Bancorp by 37.0% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 27,974 shares of the financial services provider’s stock worth $737,000 after acquiring an additional 7,562 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Washington Trust Bancorp by 9.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 219,208 shares of the financial services provider’s stock worth $5,772,000 after purchasing an additional 19,349 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Washington Trust Bancorp by 3.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 20,575 shares of the financial services provider’s stock worth $542,000 after purchasing an additional 715 shares during the period. FMR LLC raised its position in Washington Trust Bancorp by 0.4% during the 3rd quarter. FMR LLC now owns 1,314,538 shares of the financial services provider’s stock valued at $34,612,000 after purchasing an additional 4,731 shares in the last quarter. Finally, Retirement Planning Co of New England Inc. purchased a new stake in shares of Washington Trust Bancorp in the 3rd quarter worth $240,000. 65.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Washington Trust Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, April 25th. Seaport Res Ptn downgraded shares of Washington Trust Bancorp from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 31st.

About Washington Trust Bancorp

Washington Trust Bancorp, Inc operates as the bank holding company for The Washington Trust Company, of Westerly that provides various banking and financial services to individuals and businesses. The company operates in two segments, Commercial Banking and Wealth Management Services. The Commercial Banking segment offers deposit accounts, including interest-bearing and noninterest-bearing demand deposits, NOW and savings accounts, money market and retirement deposit accounts, and time deposits; various commercial and retail lending products, such as commercial real estate loans, including commercial mortgages, and construction and development loans; commercial and industrial loans comprising working capital, equipment financing, and financing for other business-related purposes; residential real estate loans that consist of mortgage and homeowner construction loans; and consumer loans comprising home equity loans and lines of credit, personal installment loans, and loans to individuals secured by general aviation aircraft.