Victory Capital Management Inc. Sells 600 Shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Victory Capital Management Inc. decreased its position in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 3.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,982 shares of the financial services provider’s stock after selling 600 shares during the quarter. Victory Capital Management Inc. owned 0.11% of Washington Trust Bancorp worth $615,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WASH. Kestra Private Wealth Services LLC raised its position in shares of Washington Trust Bancorp by 5.3% during the 4th quarter. Kestra Private Wealth Services LLC now owns 29,451 shares of the financial services provider’s stock valued at $954,000 after purchasing an additional 1,477 shares during the period. State of New Jersey Common Pension Fund D boosted its position in Washington Trust Bancorp by 10.5% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 95,479 shares of the financial services provider’s stock valued at $3,092,000 after buying an additional 9,084 shares during the period. Coastline Trust Co bought a new stake in shares of Washington Trust Bancorp in the 4th quarter valued at about $353,000. SG Americas Securities LLC bought a new position in shares of Washington Trust Bancorp during the 4th quarter worth approximately $179,000. Finally, American Century Companies Inc. raised its stake in shares of Washington Trust Bancorp by 13.2% during the 3rd quarter. American Century Companies Inc. now owns 169,477 shares of the financial services provider’s stock worth $4,462,000 after acquiring an additional 19,730 shares in the last quarter. Hedge funds and other institutional investors own 65.81% of the company’s stock.

Washington Trust Bancorp Stock Down 3.3 %

Shares of NASDAQ WASH opened at $26.15 on Friday. The company’s 50-day simple moving average is $26.04 and its 200-day simple moving average is $27.48. Washington Trust Bancorp, Inc. has a 52-week low of $21.69 and a 52-week high of $33.96. The firm has a market cap of $445.96 million, a price-to-earnings ratio of 9.65 and a beta of 0.80. The company has a quick ratio of 1.07, a current ratio of 1.08 and a debt-to-equity ratio of 2.70.

Washington Trust Bancorp (NASDAQ:WASH) last posted its quarterly earnings results on Monday, April 22nd. The financial services provider reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.21. The firm had revenue of $48.83 million for the quarter, compared to the consensus estimate of $45.24 million. Washington Trust Bancorp had a net margin of 12.01% and a return on equity of 10.11%. Equities analysts predict that Washington Trust Bancorp, Inc. will post 2.09 EPS for the current fiscal year.

Washington Trust Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Monday, April 1st were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 8.57%. The ex-dividend date of this dividend was Thursday, March 28th. Washington Trust Bancorp’s dividend payout ratio is currently 82.66%.

Analyst Ratings Changes

A number of research analysts have issued reports on WASH shares. StockNews.com lowered shares of Washington Trust Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, May 17th. Seaport Res Ptn lowered shares of Washington Trust Bancorp from a “buy” rating to a “neutral” rating in a research report 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.