3,100 Shares in Washington Trust Bancorp, Inc. (NASDAQ:WASH) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new stake in Washington Trust Bancorp, Inc. (NASDAQ:WASH) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,100 shares of the financial services provider’s stock, valued at approximately $97,000.

Several other large investors also recently added to or reduced their stakes in WASH. American Century Companies Inc. raised its holdings in shares of Washington Trust Bancorp by 1.2% during the 4th quarter. American Century Companies Inc. now owns 325,169 shares of the financial services provider’s stock valued at $10,194,000 after purchasing an additional 3,697 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Washington Trust Bancorp during the fourth quarter worth $2,192,000. JPMorgan Chase & Co. raised its holdings in Washington Trust Bancorp by 60.0% during the third quarter. JPMorgan Chase & Co. now owns 66,737 shares of the financial services provider’s stock valued at $2,150,000 after buying an additional 25,029 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Washington Trust Bancorp in the fourth quarter worth about $1,955,000. Finally, Inspire Advisors LLC boosted its stake in shares of Washington Trust Bancorp by 7.4% during the 4th quarter. Inspire Advisors LLC now owns 60,694 shares of the financial services provider’s stock worth $1,903,000 after acquiring an additional 4,195 shares in the last quarter. 65.81% of the stock is owned by institutional investors.

Washington Trust Bancorp Trading Down 4.4 %

Shares of NASDAQ:WASH opened at $26.20 on Friday. The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.10 and a current ratio of 1.10. The stock’s 50-day moving average is $30.78 and its 200-day moving average is $32.76. The company has a market cap of $505.03 million, a P/E ratio of -16.90 and a beta of 0.76. Washington Trust Bancorp, Inc. has a 52-week low of $24.11 and a 52-week high of $40.59.

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

Washington Trust Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 8.55%. The ex-dividend date of this dividend is Tuesday, April 1st. Washington Trust Bancorp’s payout ratio is currently -144.52%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. StockNews.com upgraded Washington Trust Bancorp from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Seaport Res Ptn upgraded shares of Washington Trust Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 14th.

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.