Victory Capital Management Inc. Grows Holdings in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Victory Capital Management Inc. lifted its stake in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 5.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,100 shares of the financial services provider’s stock after purchasing an additional 1,118 shares during the period. Victory Capital Management Inc. owned about 0.12% of Washington Trust Bancorp worth $551,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its holdings in Washington Trust Bancorp by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 235,586 shares of the financial services provider’s stock valued at $7,628,000 after purchasing an additional 16,378 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Washington Trust Bancorp by 9.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 774,705 shares of the financial services provider’s stock valued at $25,086,000 after purchasing an additional 68,930 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Washington Trust Bancorp in the 4th quarter valued at approximately $186,000. EP Wealth Advisors LLC acquired a new position in shares of Washington Trust Bancorp in the 4th quarter valued at $259,000. Finally, Napatree Capital LLC purchased a new stake in Washington Trust Bancorp in the fourth quarter valued at approximately $1,813,000. Hedge funds and other institutional investors own 65.81% of the company’s stock.

Analysts Set New Price Targets

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

Washington Trust Bancorp Trading Down 4.2 %

Shares of Washington Trust Bancorp stock opened at $32.81 on Monday. The business has a 50 day moving average price of $31.11 and a 200 day moving average price of $27.84. The company has a debt-to-equity ratio of 3.34, a current ratio of 1.15 and a quick ratio of 1.14. The company has a market capitalization of $559.54 million, a P/E ratio of 12.11 and a beta of 0.79. Washington Trust Bancorp, Inc. has a 1 year low of $21.69 and a 1 year high of $34.27.

Washington Trust Bancorp (NASDAQ:WASH) last announced its quarterly earnings results on Monday, July 22nd. The financial services provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.14. The firm had revenue of $102.66 million during the quarter, compared to analysts’ expectations of $46.06 million. Washington Trust Bancorp had a net margin of 11.51% and a return on equity of 9.95%. During the same period in the prior year, the company earned $0.66 EPS. Sell-side analysts anticipate that Washington Trust Bancorp, Inc. will post 2.38 EPS for the current fiscal year.

Washington Trust Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $2.24 annualized dividend and a dividend yield of 6.83%. Washington Trust Bancorp’s payout ratio is 82.66%.

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.