Victory Capital Management Inc. Has $702,000 Stock Holdings in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Victory Capital Management Inc. raised its stake in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 8.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,800 shares of the financial services provider’s stock after buying an additional 1,700 shares during the period. Victory Capital Management Inc. owned about 0.13% of Washington Trust Bancorp worth $702,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of WASH. CWM LLC raised its holdings in shares of Washington Trust Bancorp by 29.9% during the second quarter. CWM LLC now owns 3,146 shares of the financial services provider’s stock worth $86,000 after acquiring an additional 725 shares in the last quarter. Barrett & Company Inc. lifted its holdings in shares of Washington Trust Bancorp by 20.1% during the 3rd quarter. Barrett & Company Inc. now owns 4,694 shares of the financial services provider’s stock valued at $151,000 after buying an additional 787 shares during the last quarter. Sanders Morris Harris LLC acquired a new stake in shares of Washington Trust Bancorp during the 3rd quarter valued at about $206,000. IFG Advisory LLC bought a new stake in shares of Washington Trust Bancorp in the 2nd quarter valued at approximately $211,000. Finally, SG Americas Securities LLC acquired a new position in Washington Trust Bancorp in the second quarter worth approximately $232,000. 65.81% of the stock is currently owned by hedge funds and other institutional investors.

Washington Trust Bancorp Trading Down 1.0 %

Washington Trust Bancorp stock opened at $37.32 on Friday. Washington Trust Bancorp, Inc. has a one year low of $24.11 and a one year high of $40.59. The company’s fifty day moving average price is $34.56 and its two-hundred day moving average price is $30.77. The company has a debt-to-equity ratio of 2.63, a current ratio of 1.10 and a quick ratio of 1.10. The company has a market capitalization of $637.05 million, a price-to-earnings ratio of 13.98 and a beta of 0.77.

Washington Trust Bancorp (NASDAQ:WASH) last issued its quarterly earnings data on Monday, October 21st. The financial services provider reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.08. Washington Trust Bancorp had a return on equity of 9.55% and a net margin of 11.24%. The business had revenue of $103.86 million for the quarter, compared to analyst estimates of $47.32 million. During the same quarter in the prior year, the firm posted $0.65 EPS. On average, analysts forecast that Washington Trust Bancorp, Inc. will post 2.49 earnings per share for the current fiscal year.

Washington Trust Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 6.00%. The ex-dividend date was Tuesday, October 1st. Washington Trust Bancorp’s payout ratio is 83.90%.

Analyst Ratings Changes

Separately, Piper Sandler raised shares of Washington Trust Bancorp from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $30.00 to $34.00 in a research report on Tuesday, October 22nd.

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.