Connor Clark & Lunn Investment Management Ltd. Purchases 18,339 Shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Connor Clark & Lunn Investment Management Ltd. raised its stake in Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 170.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,126 shares of the financial services provider’s stock after buying an additional 18,339 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.15% of Washington Trust Bancorp worth $913,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Zacks Investment Management bought a new position in shares of Washington Trust Bancorp in the 3rd quarter worth $1,258,000. Proficio Capital Partners LLC bought a new position in shares of Washington Trust Bancorp in the 4th quarter worth $1,955,000. Barclays PLC increased its holdings in shares of Washington Trust Bancorp by 44.9% in the 3rd quarter. Barclays PLC now owns 53,315 shares of the financial services provider’s stock worth $1,717,000 after buying an additional 16,511 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of Washington Trust Bancorp by 95.6% in the 3rd quarter. Jane Street Group LLC now owns 36,640 shares of the financial services provider’s stock worth $1,180,000 after buying an additional 17,906 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Washington Trust Bancorp by 60.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 66,737 shares of the financial services provider’s stock worth $2,150,000 after buying an additional 25,029 shares during the last quarter. Institutional investors own 65.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WASH. Seaport Res Ptn raised shares of Washington Trust Bancorp from a “hold” rating to a “strong-buy” rating in a report on Friday, March 14th. StockNews.com raised shares of Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, January 31st.

Washington Trust Bancorp Price Performance

Shares of Washington Trust Bancorp stock opened at $31.54 on Friday. Washington Trust Bancorp, Inc. has a 52-week low of $24.11 and a 52-week high of $40.59. The stock has a market capitalization of $607.97 million, a price-to-earnings ratio of -20.35 and a beta of 0.80. The company has a fifty day moving average of $31.84 and a 200-day moving average of $33.12. The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.10 and a current ratio of 1.10.

Washington Trust Bancorp (NASDAQ:WASH) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. Washington Trust Bancorp had a negative net margin of 6.90% and a positive return on equity of 8.99%. Equities research analysts expect that Washington Trust Bancorp, Inc. will post 2.76 EPS for the current year.

Washington Trust Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 7.10%. Washington Trust Bancorp’s payout ratio is currently -144.52%.

Washington Trust Bancorp Profile

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.