EP Wealth Advisors LLC Acquires New Position in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

EP Wealth Advisors LLC acquired a new stake in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 7,987 shares of the financial services provider’s stock, valued at approximately $259,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC grew its position in Washington Trust Bancorp by 0.4% during the third 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. Dimensional Fund Advisors LP grew its position in Washington Trust Bancorp by 9.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 774,705 shares of the financial services provider’s stock worth $25,086,000 after acquiring an additional 68,930 shares in the last quarter. Third Avenue Management LLC grew its position in Washington Trust Bancorp by 44.5% in the third quarter. Third Avenue Management LLC now owns 294,994 shares of the financial services provider’s stock worth $8,050,000 after acquiring an additional 90,842 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Washington Trust Bancorp by 7.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 235,586 shares of the financial services provider’s stock worth $7,628,000 after acquiring an additional 16,378 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Washington Trust Bancorp by 13.2% in the third 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. 65.81% of the stock is owned by hedge funds and other institutional investors.

Washington Trust Bancorp Stock Performance

WASH stock opened at $25.79 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.08 and a debt-to-equity ratio of 2.70. The company has a market capitalization of $439.72 million, a price-to-earnings ratio of 9.52 and a beta of 0.81. Washington Trust Bancorp, Inc. has a 12 month low of $21.69 and a 12 month high of $33.96. The firm has a 50 day moving average of $26.02 and a two-hundred day moving average of $27.42.

Washington Trust Bancorp (NASDAQ:WASH) last issued its quarterly earnings data on Monday, April 22nd. The financial services provider reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.21. Washington Trust Bancorp had a net margin of 12.01% and a return on equity of 10.11%. The business had revenue of $48.83 million during the quarter, compared to analysts’ expectations of $45.24 million. As a group, equities analysts anticipate that Washington Trust Bancorp, Inc. will post 2.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research report on Monday.

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.