Washington Trust Bancorp (NASDAQ:WASH) Reaches New 12-Month High at $34.16

Washington Trust Bancorp, Inc. (NASDAQ:WASH)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $34.16 and last traded at $33.76, with a volume of 39113 shares changing hands. The stock had previously closed at $32.57.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Washington Trust Bancorp from a “sell” rating to a “hold” rating in a report on Monday, June 17th.

Washington Trust Bancorp Stock Performance

The company has a market capitalization of $563.15 million, a P/E ratio of 12.02 and a beta of 0.79. The company has a current ratio of 1.15, a quick ratio of 1.14 and a debt-to-equity ratio of 3.34. The company’s fifty day moving average is $30.78 and its 200 day moving average is $27.68.

Washington Trust Bancorp (NASDAQ:WASH) last posted its earnings results on Monday, July 22nd. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.14. Washington Trust Bancorp had a return on equity of 9.95% and a net margin of 11.51%. The firm had revenue of $102.66 million for the quarter, compared to the consensus estimate of $46.06 million. During the same quarter in the prior year, the business posted $0.66 earnings per share. As a group, equities analysts anticipate that Washington Trust Bancorp, Inc. will post 2.38 earnings per share for the current year.

Washington Trust Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Monday, July 1st were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 6.79%. The ex-dividend date was Monday, July 1st. Washington Trust Bancorp’s dividend payout ratio is presently 82.66%.

Hedge Funds Weigh In On Washington Trust Bancorp

A number of large investors have recently modified their holdings of the company. Creative Planning lifted its stake in Washington Trust Bancorp by 23.9% in the 2nd quarter. Creative Planning now owns 50,306 shares of the financial services provider’s stock worth $1,379,000 after purchasing an additional 9,708 shares in the last quarter. AQR Capital Management LLC boosted its stake in Washington Trust Bancorp by 12.3% during the second quarter. AQR Capital Management LLC now owns 136,141 shares of the financial services provider’s stock valued at $3,732,000 after buying an additional 14,910 shares during the period. Sei Investments Co. grew its position in Washington Trust Bancorp by 30.8% during the second quarter. Sei Investments Co. now owns 15,669 shares of the financial services provider’s stock worth $429,000 after buying an additional 3,687 shares in the last quarter. Renaissance Technologies LLC increased its stake in Washington Trust Bancorp by 56.6% in the 2nd quarter. Renaissance Technologies LLC now owns 108,668 shares of the financial services provider’s stock worth $2,979,000 after acquiring an additional 39,268 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Washington Trust Bancorp by 7.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 826,057 shares of the financial services provider’s stock valued at $22,642,000 after acquiring an additional 59,115 shares in the last quarter. 65.81% of the stock is currently owned by institutional investors.

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.